Peak Energy, Shinsung E&G and YSP sign agreement for 50 MW of solar power in Korea

Peak Energy signs an agreement with Shinsung E&G and YSP to develop a 50 MW solar portfolio in South Korea, reinforcing the government's renewable energy initiatives.

Share:

Peak Energy, Shinsung E&G et YSP s'accordent pour 50 MW de Solaire en Corée.

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Renewable energy initiatives in South Korea take a new turn with the signing of a Memorandum of Understanding (MOU) between Peak Energy, Shinsung E&G and YSP Co., Ltd. The agreement provides for the joint development of a 50 MW solar portfolio, aimed at maximizing revenue for existing building owners while supplying green energy to companies committed to the RE 100 program, including BayWare r.e.

Background and objectives

Recent measures by the South Korean government are encouraging the deployment ofsolar energy projects on small plots of available land and roofs. These initiatives are aimed at reducing energy costs and improving energy security. This strategic partnership fits in perfectly with this dynamic, catalyzing the rooftop solar industry in South Korea. Peak Energy, a major player in Asia’s renewable energy sector, will contribute its expertise in project management, financing and sourcing corporate customers for the energy produced. For their part, Shinsung E&G and YSP will be responsible for finding suitable roofs and managing construction activities. This synergy will combine the strengths of each partner for maximum impact.

Commitments and prospects

Gavin Adda, CEO of Peak Energy, said: “Peak Energy is committed to Korea, where we currently own and operate one of the country’s largest projects. This partnership with Shinsung and YSP is crucial to boosting the rooftop solar industry and helping the government achieve its goals. We bring global best practices through long-term strategic partnerships.” For Su-ok Choi, Vice President of Shinsung’s Renewable Energy Division, the agreement will revitalize the domestic solar energy market and create a positive synergy between the three companies. He added that Shinsung will continue to be fully committed to achieving the government’s objectives.

Economic and environmental impact

The importance of this project also lies in its economic potential. By developing a 50 MW capacity, it will not only help reduce energy costs, but also create new economic opportunities for building owners and local businesses. This project illustrates the ability of public-private partnerships to catalyze sustainable development. In addition, this project meets the growing demand from companies for renewable energy solutions in their operations. Peak Energy’s integrated approach, including business models such as PPAs (Power Purchase Agreements) and energy storage applications, positions the company as a key partner for decarbonization in Asia-Pacific. This agreement between Peak Energy, Shinsung E&G and YSP marks a significant milestone in South Korea’s energy landscape. By joining forces, these companies demonstrate how international cooperation and innovation can help achieve ambitious energy goals while generating economic benefits. The 50 MW project will serve as a model for similar initiatives in the future, contributing to a more stable energy future.

Island Green Power opens a public consultation on design changes to its 500MW East Pye solar and battery storage project ahead of a permit application expected in early 2026.
US developer Cypress Creek Renewables has closed financing for the Sundance project, combining 75MWac of solar with 200MWh of storage, with commissioning expected by late 2026.
US-based solar developer Ampliform secured a loan facility of up to $165mn to support large-scale energy projects in key regional markets, with a focus on the PJM grid.
More than 75 solar projects in the United States were tax-sheltered in Q2 through GameChange BOS transformers, responding directly to new U.S. Treasury requirements.
Chanel has signed a 20-year power purchase agreement with REDEN to supply nearly one-third of its electricity needs in France from two photovoltaic plants commissioned in 2025.
i Grid Solutions and Tokyu Land will develop an additional 200MW of on-site solar under power purchase agreements by 2029 through their joint venture TLC VPP, with an investment exceeding JPY20bn ($133mn).
US-based developer Janta Power secures funding to expand its vertical photovoltaic towers across data centres, airports, charging stations and critical infrastructure.
The global floating solar panel market could triple by 2030, supported by energy demand and favourable regulations, according to the latest double-digit annual growth forecasts.
SMFL Mirai Partners commits to purchasing fifty low-voltage solar plants from GreenEnergy Plus, targeting 50MW installed capacity by fiscal 2030 to strengthen its supply strategy for private power purchase agreements.
Recurrent Energy, a subsidiary of Canadian Solar, secured $825mn to develop a 150 MWac solar plant and a 600 MWh storage site in Maricopa County, in partnership with Arizona Public Service.
Canadian firm Stardust Solar grants its first African franchise to Megatricity Energy in Zambia, launching a new phase of expansion into emerging solar energy markets.
French energy company elmy finalises a €3.5mn bank loan with Caisse d’Epargne Rhône Alpes to fund 13 new photovoltaic plants with a combined capacity of 3.6 MWp.
Ampyr Solar Europe has connected a 45MWp solar cluster to the grid, made up of three sites spanning 40 hectares in Germany, supplying electricity to 13,000 households.
The independent commission approved development of the Glorit solar project, with a capacity of 147 megawatts (MW), north of Auckland, following a detailed assessment of environmental, land-use, and economic impacts.
i Grid Solutions and CPower have partnered to accelerate the deployment of solar plants through on-site power purchase agreements, targeting 30MW of installed capacity by 2028.
PowerBank has signed a lease for a 1.76 MW ground-mounted solar project in upstate New York, aiming to power around 200 homes through a community-based programme.
AXIAN Energy has acquired a majority stake in the Bangweulu solar plant in Zambia, strengthening its pan-African solar strategy while entering a rapidly growing energy market.
Sun Trinity has commissioned a 3.1 MW solar carport in Nara, bringing its on-site PPA capacity with Aeon Mall to 10.1 MW under a nationwide rollout plan across twelve commercial sites.
A joint programme funded with CHF15.12mn ($19mn) aims to boost energy efficiency and renewables in Alpine regions by 2029.
Aurora Renewables will develop an intelligent microgrid combining solar, batteries and digital simulation technology to enhance power supply in northern Saskatchewan.

All the latest energy news, all the time

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.