Naver is collaborating with renewable energy developer Gorin Energy to secure renewable energy for its data center operations. The partnership aims to expand renewable energy procurement through equity investment in a 216MW solar project currently under development by Gorin Energy and a long-term power purchase agreement (PPA).
Naver announced on September 16 that it has signed a memorandum of understanding (MOU) with Gorin Energy to secure renewable energy for its data centers.
Under the MOU, Naver plans to pursue equity investment in the 'Jindo Green Solar' project being developed by Gorin Energy in Jindo County, Jeonnam, and to establish a long-term PPA. The two companies aim to finalize the main contract by the end of this year based on the MOU.
The Jindo Green Solar project received approval for a total capacity of 216MW earlier this year. Gorin Energy will lead the development and operational management of the project. Naver intends to purchase the renewable energy generated from the project over the long term to strengthen its renewable energy supply for AI and cloud infrastructure operations in Sejong and Chuncheon.
This collaboration will diversify Naver's renewable energy procurement portfolio by combining long-term PPAs with equity investments in projects. Naver aims to expand its renewable energy procurement base for data centers by investing directly in renewable energy generation projects while purchasing the generated electricity over an extended period.
Naver plans to procure the power needed for expanding its domestic AI and cloud infrastructure from renewable energy sources and establish a long-term cooperation model between renewable energy developers and technology platform companies.
Chae Seon-joo, Naver's representative for strategic business, stated, “As the demand for power in data centers increases due to the expansion of AI and cloud services, securing stable renewable energy is essential for sustainable infrastructure operations. Naver will strengthen the foundation for renewable energy transition in data centers through long-term PPAs and strategic investments.”
Asad Rajuk, CEO of Gorin Energy, expressed, “We are deeply honored that Naver, one of the most trusted and influential companies in Korea, has placed its trust in Gorin Energy for the successful advancement of the Jindo Green Solar project. We will contribute to supporting Naver's expansion of renewable energy while also aiding Korea's energy transition and carbon neutrality goals.”
* This article has been translated by AI.
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