Shizen International Inc, a subsidiary of the Shizen Energy Group, has announced its entry into the South Korean renewable energy market through a joint venture with INMARK Asset Management and DOHWA Engineering Co, Ltd.
The joint venture, named Inmark Jayeon Energy Co., Ltd. will focus on developing renewable energy projects throughout South Korea, including energy storage, onshore renewables and offshore wind.
The South Korean government aims to generate 30.6% of its electricity from renewable energy sources by 2036, up from 9% in 2021, as part of its 10th Basic Plan for Electricity Supply and Demand. Shizen Energy Group sees significant potential in the country’s renewable energy market and hopes to contribute to South Korea’s goal of achieving carbon neutrality by 2050.
Shizen Energy Group’s Korean joint venture: a key step towards achieving its sustainability objective
The joint venture has already identified 2,000 MW of renewable energy project opportunities and plans to invest in a 100 MW project by the end of 2023. Shizen Energy Group brings its expertise in offshore wind projects in Japan to the joint venture, and will combine digital technologies such as EMS and battery storage to develop renewable energy sources that work in harmony with local communities.
Shizen Energy Group’s mission is to achieve a 100% renewable energy world as soon as possible. Through this joint venture and its partnership with INMARK and DOHWA, Shizen Energy Group hopes to contribute to a sustainable future for South Korea and the planet.
