(GS E&C) GS E&C said Monday it signed a memorandum of understanding with global infrastructure investment firm I Squared Capital to establish a joint venture focused on renewable energy projects in South Korea.Under the agreement, the two companies aim to secure 1.5 gigawatts of energy transition assets by 2035, targeting solar power generation and battery energy storage system projects.Founded in 2012, I Squared Capital manages approximately $60 billion in assets and has invested in renewable energy projects across Asia, including India, Japan and Taiwan, as well as other global markets.The partnership will combine I Squared Capital's expertise in infrastructure investing and project financing with GS E&C's engineering capabilities, project development experience and knowledge of the Korean market.GS E&C will lead project development, including site acquisition, permitting, licensing, project structuring and technical advisory services. I Squared Capital will oversee investment structures and financing strategies for individual projects.The partners plan to jointly identify and develop opportunities in Korea's solar and energy storage sectors while evaluating the commercial, technical and financial viability of each project.GS E&C said the venture marks a strategic shift beyond its traditional engineering, procurement and construction business toward a developer model, allowing it to participate from the earliest stages of projects and secure long-term development rights and energy assets."As the global push for energy transition and carbon neutrality accelerates, we are expanding our renewable energy portfolio, including solar power and energy storage systems," a GS E&C official said."We will continue to pursue new opportunities while securing renewable energy development rights and stable power off-takers in Korea and overseas."