Renewable Energy JV For South Korea

• Aquila Development Partners is a new South Korea based joint venture between Aquila Capital and TopInfra
• The joint venture will develop and construct solar PV, wind power and BESS systems
• Plan is to start with an existing pipeline of 430 MW solar PV and 1 GW of wind energy capacity, and expand further

German investor and asset development company Aquila Capital is putting its money on the South Korean renewables market where under a joint venture (JV) with local solar PV developer TopInfra, it will realize a portfolio of solar PV, wind power and battery energy storage systems (BESS).

The JV Aquila Development Partners starts with a pipeline of 430 MW of solar PV and 1 GW of wind power capacity, currently at various stages of development, and will expand the portfolio further.

As the investor with a significant focus on Asia Pacific, Aquila brings to the table its expertise of investing, developing, building and operating renewable energy assets, while TopInfra comes with its local experience of developing and executing solar projects along with operation and maintenance (O&M) services.

"The renewable energy capacity demands in South Korea are expected to double between now and 2050 – to meet this, significant institutional investment is required, and we look forward to exploring the co-development of additional asset classes as the needs evolve," said Aquila Capital Asia Pacific CEO Alexander Lenz.

South Korea aims to report net zero emissions by 2050 and turn carbon neutral, as per the Carbon Neutrality and Green Growth Act cleared by the nation's National Assembly in 2021 (see South Korea Clears Carbon Neutrality Act).