Peak Energy Korea Holdings Co. (PE Korea), the local subsidiary of Peak Energy, a renewable energy platform formed by Stonepeak Partners LP, a leading alternative investment firm, announced Monday that it has signed a joint investment agreement with Blackwood Corp., a South Korean specialist in renewable energy development, construction, and operation, to undertake solar and battery projects in the country.

Headquartered in New York and managing a total of $61.1 billion, Stonepeak specializes in infrastructure and real asset investments. Established in 2020, Peak Energy is Stonepeak’s renewable energy platform focused on pursuing renewable energy projects in Asia.

Blackwood is a Korean renewable energy company with a track record of developing, constructing, and operating solar projects exceeding 200 megawatts.

Its primary focus is on solar power plant construction and operation management, as well as residential, construction, civil engineering, and electrical infrastructure projects.

Under the joint investment agreement, PE Korea will invest in operational solar projects with a capacity of over 70 MW and jointly provide funding for projects under development exceeding 500 MW capacity, aligning with Peak Energy‘s strategy of investing from project inception.

“With the addition of these projects to the portfolio, alongside the 100 MW solar project in South Jeolla Province already operational by PE Korea, we will boast the largest operational and development portfolio in Korea,” said an official from PE Korea.

Particularly noteworthy is the projects integrating solar with battery technology to ensure stable power generation.

“Investing in battery projects is expected to play an increasingly vital role in future renewable energy development in Asia,” the official said.

By Lee Ho-joon and Chang Iou-chung

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