Peak Energy, INUPS to develop rooftop solar projects in South Korea

These will be connected to the utility grid.

Renewable energy developer Peak Energy has signed a partnership agreement with INUPS to develop 30 megawatts (MW) rooftop projects across South Korea, which may be later expanded to 200 MW.

Through this partnership, Peak Energy and INUPS will work on grid-connected rooftop solar projects, and sell the generated power to large corporations.

Peak Energy will be responsible for project development and construction until commercial operation, and for the sale of the energy generated on a long-term power purchase agreement basis to corporate off-takers. Meanwhile, INUPS will be responsible for the operation and maintenance.

“Based on this partnership agreement, we will quickly lead the domestic rooftop solar market in the future,” said Kim Hyung-jun, vice president/COO of INUPS.

Korea aims for net zero by 2050. Despite limited land for solar farms, rooftops offer significant potential for quick and easy solar panel installation. More companies in the country also have sustainability targets to hit and need access to copious renewable energy in advance of 2050.

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