GS E&C CEO Huh Yoon-hong / Courtesy of GS E&C
GS Engineering & Construction (GS E&C) is accelerating its shift toward an energy transition and developer-led business model as it seeks new growth engines in renewable energy beyond traditional construction.
The company said Monday it signed a memorandum of understanding (MOU) with global infrastructure investor I Squared Capital to establish a joint venture aimed at developing renewable energy projects in Korea, including solar power and battery energy storage systems (BESS).
I Squared Capital, founded in 2012, is a global infrastructure investment firm managing more than $60 billion (90 trillion won) in assets, with a focus on power and utilities, transport, digital infrastructure, environmental systems and social infrastructure.
The signing ceremony was attended by GS E&C CEO Huh Yoon-hong and executives from I Squared Capital. The partnership marks a strategic move for GS E&C as it expands from an engineering, procurement and construction contractor into a full-scale project developer securing energy assets from the early stages.
