Japanese renewables developer Shizen Energy Inc has agreed to set up a joint venture with two partners to develop energy storage, onshore renewables, and offshore wind energy projects in South Korea.
The Tokyo-based green power company said today that its subsidiary Shizen International Inc is teaming up with INMARK Asset Management and DOHWA Engineering Co Ltd.
Inmark Infra Holdings, a joint venture between INMARK and DOHWA, will hold 60% of the new firm with Shizen International taking the remaining 40%.
Named Inmark Jayeon Energy Co Ltd, the new joint company has already identified 2,000 MW of potential renewable energy projects, with the first investment in a 100-MW scheme planned to take place by the end of this year.
INMARK will be in charge of consortium management and financing, while DOHWA will be responsible for engineering and permitting. Shizen International brings its expertise in site assessment, development, supply chain, and off-taker relationships.