Peak Energy enters South Korea market

Singapore-based Peak Energy, a leading renewable developer in Asia, signed an MOU with Shinsung E&G and YSP Co., Ltd., both based on South Korea, to develop a 50 MW solar portfolio in South Korea. The agreement aims to boost revenue for building owners and supply green power to RE 100 companies. The South Korean Government’s recent initiatives to promote renewable energy include regulatory changes to facilitate solar projects on small plots and rooftops, aiding in reducing power costs, improving energy security, and meeting net-zero targets. Peak Energy, with over 400 MW of solar projects across 13 countries, will handle project coordination, business management, financing, and sourcing corporate customers. Shinsung and YSP will lead construction and source rooftops. This collaboration leverages each company’s strengths to boost South Korea’s renewable energy development and contribute to the country’s energy transition.