Naver is moving deeper into renewable power generation as artificial intelligence and cloud services increase electricity requirements across its data center operations. The South Korean technology company signed a memorandum of understanding with Gurīn Energy on Sept. 16 to pursue an equity investment in the developer’s 216-megawatt Jindo Green Solar project in South Jeolla Province. Naver plans to combine the investment with a long-term power purchase agreement that would direct electricity toward its Gak Sejong and Gak Chuncheon data centers and other AI and cloud infrastructure.
The arrangement marks a shift from treating renewable electricity as a procurement item toward securing an interest in the assets that generate it. Gurīn Energy will lead development and operations management for Jindo Green Solar, while Naver will negotiate the size of its equity position and the terms of its power purchase. The project obtained an electricity business license for 216 MW earlier this year, giving the proposed supply arrangement a defined generation asset behind it. The companies aim to finalize a binding agreement by the end of 2026.
AI Growth Raises the Stakes for Renewable Power
For Naver, the timing reflects a broader infrastructure challenge created by AI workloads: electricity demand is becoming a strategic constraint alongside computing capacity, networking and cooling. The company expects power from Jindo Green Solar to support AI and cloud infrastructure at Gak Sejong and Gak Chuncheon, strengthening the renewable supply available to those facilities. The approach gives Naver another mechanism for matching long-duration digital infrastructure demand with renewable generation rather than relying solely on market purchases or renewable energy certificates. Industry coverage of the agreement identifies the strategy as part of Naver’s effort to diversify renewable procurement as data center electricity consumption rises.
Chae Seon-ju, Naver’s head of strategic business, said, “As data center power demand increases with the spread of AI and cloud services, securing a stable supply of renewable energy is an essential task for sustainable infrastructure operations. Naver will strengthen the foundation for renewable energy transition at its data centers through long-term PPAs and strategic investments, and continue efforts to achieve our 2040 carbon negative goal.” The statement places renewable procurement within Naver’s broader infrastructure strategy rather than presenting the Jindo project as an isolated clean-energy purchase. Naver declared its 2040 Carbon Negative commitment in 2020 and has since pursued renewable electricity through solar, small hydro and wind resources.
Direct Ownership Extends Naver’s Renewable Strategy
The Jindo proposal follows Naver’s April investment in a GS wind power project, where the company combined an equity investment with a PPA. Naver said that the transaction made it the first South Korean RE100 company to secure renewable energy through direct investment in a renewable generation entity. The Jindo transaction would extend that model from wind generation into utility-scale solar while giving Naver another long-term renewable supply relationship. Meanwhile, the company’s broader procurement strategy reflects the growing importance of securing power sources as AI infrastructure expands.
Assaad Razzouk, CEO of Gurīn Energy, said, “We are deeply honored that Naver, one of South Korea’s most trusted and influential companies, has placed its confidence in Gurīn Energy for the successful execution of the Jindo Green Solar project. We will support Naver’s renewable energy expansion while also contributing to South Korea’s energy transition and carbon neutrality goals.” Gurīn Energy is responsible for developing and operating the Jindo project, while Naver’s role would connect generation economics directly with the long-term electricity requirements of its digital infrastructure. The partnership therefore brings a technology platform company and a renewable developer into a structure built around both asset participation and contracted power supply.
Year-End Agreement Will Define the Economics
The memorandum does not yet establish the final investment amount, PPA duration or electricity pricing. Those terms remain subject to negotiations between Naver and Gurīn Energy before the targeted year-end definitive agreement. The outcome will determine how much generation Naver effectively supports through ownership and how much electricity it can contract for its data center operations. Still, the proposed structure points toward a procurement strategy in which large technology companies seek greater control over the renewable assets underpinning their expanding electricity needs.
At 216 MW, Jindo Green Solar gives the agreement a utility-scale dimension that matches the growing power requirements of digital infrastructure. Naver’s planned use of the output for Gak Sejong, Gak Chuncheon and other AI and cloud operations places renewable generation closer to the core economics of its computing expansion. If the companies complete the definitive agreement, the transaction could provide another reference point for how South Korean technology companies structure long-term relationships with renewable generators. For Naver, the immediate objective is straightforward: secure more renewable power while building the energy foundation for an AI and cloud infrastructure portfolio that will require increasingly predictable electricity supply.
