GS Engineering & Construction CEO Huh Yoon-hong, left, poses with Arie Energy Designated Partner Vishwajitsinh Parmar during a memorandum of understanding signing ceremony for the two companies' partnership in Delhi, India, Monday. Courtesy of GS Engineering & Construction
GS Engineering & Construction (E&C) has signed separate memorandums of understanding with two Indian renewable energy companies, marking the Korean builder's formal entry into India's growing wind repowering and hybrid clean energy markets, the company said Tuesday.
GS E&C CEO Huh Yoon-hong attended both signing ceremonies held the previous day, the company said. GS E&C signed agreements with Arie Energy, an Indian wind repowering specialist, and Suzlon Energy, one of India's leading wind power companies, targeting the development of wind repowering and integrated solar-wind-battery energy storage projects across India.
Under the agreement with Arie Energy, the two companies will jointly pursue wind repowering projects targeting aging wind farms in India — replacing older turbines with modern, higher-capacity units to increase power output and reduce early-stage development risks. The partnership sets a target of securing 1 gigawatt of wind repowering projects in India within the next five years.
The companies plan to establish a joint venture to manage the full project lifecycle from development through investment and operations. GS E&C will handle project structuring, investment and financing and off-take arrangements, while Arie Energy will be responsible for local permitting, land acquisition and project management.
Under the separate agreement with Suzlon Energy, which primarily manufactures and distributes wind turbines and holds a significant position in the global wind energy market, the two companies will jointly develop an integrated renewable energy business model combining solar, wind and energy storage systems.
GS E&C will cover project structuring, investment and financing, while Suzlon Energy will manage technical optimization and plant operations. The partnership will focus on building a hybrid energy supply model — one that pairs solar and wind generation with battery storage rather than relying on a single power source — allowing for more stable and consistent electricity supply.
GS E&C said the moves are part of its broader strategy to expand its renewable energy portfolio, respond to climate change commitments and strengthen its medium- to long-term business pipeline in high-growth overseas markets.
This article was published with the assistance of generative AI and edited by The Korea Times.
Source: Korea Times News
