September 20 (Renewables Now) - Aquila Clean Energy APAC, part of German investment firm Aquila Capital, has set up a partnership for the development of 300 MW of solar photovoltaic projects in South Korea.
The Asia Pacific-focused clean energy platform said on Tuesday that it has signed an investment agreement with South Korea-based Alpha Asset Management (Alpha) and local project developer Central ENG to co-develop the projects.
Under the agreement, Aquila will oversee the development of the projects in partnership with Central ENG. Central ENG will lead all local permitting requirements.
“In partnering with Alpha and Central ENG, we are able to complement our own expertise with theirs, and we are excited to continue doing this to seize the significant opportunities in Korea’s clean energy industry,” said Kim Ji Hong, Head of Korea at Aquila Clean Energy.
Aquila Clean Energy APAC set up a subsidiary in South Korea in September 2022. The agreement with Alpha and Central ENG represents its first investment in the Korean market.