South Korean developer SK D&D has signed a co-investment memorandum of understanding (MOU) with renewable vitality funding fund supervisor Glennmont Companions to focus on alternatives in photo voltaic PV initiatives in South Korea.
With a capital deployment of practically €150 million (US$158 million), the South Korean developer will supply and function the photo voltaic PV initiatives whereas the funding agency will probably be chargeable for elevating debt funding and discovering finish consumers for the initiatives.
The settlement will enable Glennmont to enter the South Korean market as properly proceed the growth of its operations in Asia, mentioned Joost Bergsma, Glennmont’s CEO and managing associate.
Harrison Kim, head of the vitality answer enterprise division at SK D&D, mentioned: “The electrical energy buying and selling enterprise requires having photo voltaic PV property, and we began to debate co-investment alternatives with one of many main renewable vitality funds, Glennmont Companions from Nuveen. SK D&D will set up a digital energy plant platform by buying a lot of energy era property, forecasting yield, and utilising digital O&M options”.
Earlier this 12 months, BNZ, a newly launched impartial energy producer from Glennmont, introduced the event of a photo voltaic PV portfolio in Spain with an preliminary capability of 473MWp.