Naver (South Korea's premier internet technology conglomerate) has entered into a memorandum of understanding with Asian renewable energy developer Gurīn Energy to secure long-term clean power for its data center operations, the South Korean internet giant announced on September 16, 2026.

The agreement centers on the Jindo Green Solar project, a 216-megawatt solar development located in Jindo, South Jeolla Province, and marks another step in Naver's broader push to decarbonize its rapidly growing digital infrastructure.

Structure of the Deal

Under the terms of the MOU, Naver will pursue both a partial equity stake in the Jindo Green Solar project and a long-term power purchase agreement for the electricity it generates.

Gurīn Energy will lead the development and operational management of the project, while Naver will serve as a long-term buyer of the renewable energy produced at the site.

The two companies said they are aiming to finalize a definitive contract before the end of this year, with ongoing negotiations over the specific terms of the arrangement.

The Jindo Green Solar project received an electrical business license for its full 216MW capacity earlier this year. It is located in Jindo within the newly integrated South Jeolla and Gwangju special metropolitan area, and the energy generated from the facility is intended to supply Naver's data centers, including its Gak Sejong and Gak Chuncheon facilities, which support the company's artificial intelligence and cloud infrastructure operations.

Diversifying Renewable Energy Procurement

Naver described the combination of a long-term power purchase agreement and a direct equity investment as a deliberate strategy to diversify its renewable energy procurement portfolio.

By taking a stake in the project alongside securing offtake rights, the company is positioning itself to have greater control and stability over its clean energy supply as electricity demand from its data centers continues to rise.

This approach is not entirely new for Naver. In April of this year, the company made an equity investment in a GS wind power plant and signed a power purchase agreement with it, becoming the first RE100-committed company in South Korea to directly invest in a renewable energy generation entity as a procurement method. The Gurīn Energy MOU follows a similar investment-plus-PPA structure and extends that model into the solar sector.

Naver has previously sourced renewable energy through multiple channels, including solar, small hydropower, and wind generation. The addition of the Jindo Green Solar project is intended to further broaden the sources from which the company draws clean power.

Executives Cite AI Expansion as Driver

Chae Sun-joo, Naver's head of strategic business, tied the renewable energy push directly to the company's growing artificial intelligence and cloud operations.

"As power demand for data centers increases with the spread of AI and cloud services, securing stable renewable energy is an essential task for sustainable infrastructure operations," she said.

"Naver will strengthen the renewable energy transition foundation of its data centers through long-term PPAs and strategic investments, and will continue its efforts toward achieving its 2040 Carbon Negative goal."

Gurīn Energy chief executive Asad Rajuk said his company viewed the partnership as significant given Naver's standing in South Korea. "We are very pleased that Naver, one of the most trusted and influential companies in Korea, has placed its confidence in Gurīn Energy for the successful development of the Jindo Green Solar project," he said. "We will support Naver's renewable energy expansion while also contributing to South Korea's energy transition and carbon neutrality goals."

Naver's 2040 Carbon Negative Commitment

Naver declared its 2040 Carbon Negative target in 2020, committing to remove more carbon from the atmosphere than it emits by that year. Since making that declaration, the company has pursued a series of measures focused on improving energy efficiency at its data centers and transitioning its power consumption toward renewable sources.

The partnership with Gurīn Energy represents the latest in a series of concrete steps the company has taken to move closer to that target. With electricity consumption at data centers expected to grow in line with increasing demand for AI-powered services and cloud computing capacity, securing dedicated renewable supply through mechanisms that go beyond standard market purchases has become a central element of Naver's sustainability strategy.

Gurīn Energy, which describes itself as an Asian renewable energy developer, will oversee the construction and ongoing management of the Jindo Green Solar facility.

The project's 216 MW capacity received its required electrical business license earlier in 2026, clearing a significant regulatory milestone in its development timeline.

Both companies said they expect the collaboration to serve as a model for long-term cooperation between renewable energy developers and technology platform companies in South Korea.

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