NAVER Joins Forces with Asian Renewable Energy Developer to Secure Power for Data Centers

[Financial News] NAVER is joining forces with Asian renewable energy developer Gurīn Energy to secure renewable energy for its data centers. The two companies will pursue long-term power purchase agreements (PPAs) and project equity investments, accelerating efforts to diversify NAVER’s renewable energy procurement portfolio.
According to industry sources on the 16th, NAVER signed a memorandum of understanding (MOU) with Gurīn Energy and plans to invest in part of the equity of the Jindo Green Solar photovoltaic project in Jindo, Jeonnam Gwangju Integrated Special City, which Gurīn Energy is developing. The companies also plan to sign a long-term PPA. They will negotiate the details with the goal of signing a definitive agreement by the end of this year.
The Jindo Green Solar project is a photovoltaic power generation project that secured an electricity business license for a total capacity of 216 megawatts (MW) early this year. Gurīn Energy is expected to lead the project’s development and operations management. NAVER plans to purchase the renewable energy generated by the project over the long term, strengthening the stability of renewable energy supplies needed to operate AI and cloud infrastructure, including Naver Data Center GAK Sejong and GAK Chuncheon.
NAVER plans to procure the power needed for the growth of its domestic artificial intelligence (AI) and cloud infrastructure from renewable energy sources while establishing a long-term cooperation model between renewable energy developers and technology platform companies. Through this initiative, it aims to expand the connection between the domestic energy transition and digital infrastructure growth.
Chae Sun-joo, head of strategic businesses at NAVER, said, "As power demand from data centers rises with the expansion of AI and cloud services, securing a stable supply of renewable energy is essential to operating sustainable infrastructure. NAVER will strengthen the foundation for transitioning its data centers to renewable energy through long-term PPAs and strategic investments, and will continue its efforts to achieve its 2040 carbon-negative goal."
[email protected] Jang Min-kwon Reporter