Vena Group, a Singapore-based energy company and a subsidiary of BlackRock, has announced a landmark plan to invest ₩20 trillion (approximately US$14 billion) in South Korea’s renewable energy and AI data center sectors. The commitment was detailed following a Letter of Intent (LOI) ceremony involving South Korea’s Ministry of Climate, Energy and Environment and the Ministry of Science and ICT.
$14 Billion Korean Renewables AI Investment in South Korea
Vena Group’s investment will strategically target a wide array of renewable energy solutions. The portfolio includes large-scale projects in solar power, both onshore and offshore wind, battery energy storage systems (BESS), and emerging technologies like green hydrogen and fuel cells. A key part of the basics of solar panel manufacturing involves sourcing high-quality components, a crucial factor for the success of these new solar farms.
Specific initiatives already outlined include a 500 MW Taean offshore wind power project and a 384 MW Yogi offshore wind power project. Beyond generation, the investment will fund the development of advanced AI data centers powered entirely by renewable energy, creating a powerful synergy between AI computing and clean energy infrastructure. This integrated approach ensures that the digital backbone of the future is built on a sustainable foundation.
Strengthening South Korea’s Renewable Energy Capacity with AI Investment
This substantial investment is poised to create thousands of jobs and significantly accelerate South Korea’s journey toward its goal of becoming a carbon-neutral economy by 2050. The funding directly supports the government’s ambitious plan to expand its renewable energy capacity from 34 GW to 100 GW by 2030 and to establish an “energy highway” connecting offshore wind farms, power grids, and AI data centers.
“We are thrilled to announce this significant investment in South Korea’s renewable energy and AI sectors,” a Vena Group spokesperson stated. “We believe that South Korea is a leader in these industries, and we are proud to contribute to the country’s economic growth and energy transition.”
This move is part of a broader cooperation on AI and renewable energy between South Korea and Vena Group’s parent company, BlackRock, underscored by a Memorandum of Understanding signed in September 2025.
Vena Group’s Korean Renewables AI Investment to Boost South Korea’s Economy
Vena Group’s investment arrives at a critical time, as South Korea actively works to solidify its position in the global renewable energy and AI markets. The company’s extensive experience—with nearly 9.7 GW of renewable energy facilities in operation or under construction across the Asia-Pacific region—will be instrumental in executing these complex projects.
The development of new solar projects, for instance, will require a deep understanding of the entire solar panel manufacturing process, from sourcing solar panel raw materials to final assembly. The successful implementation hinges on both advanced technology and a robust supply chain.
In addition to the clear economic benefits, the investment will have a profound positive impact on South Korea’s environment. By developing a diverse portfolio of renewable energy projects, the initiative will help reduce the nation’s dependence on fossil fuels and contribute meaningfully to the global fight against climate change.
Vena Group’s ₩20 trillion commitment is a major milestone for South Korea. The investment is set to create lasting jobs, stimulate economic growth, and propel the nation toward its ambitious environmental and technological goals. As these projects come to fruition, South Korea is well-positioned to become a global leader in the convergence of renewable energy and AI technology.
To learn more about the intricacies of bringing such large-scale solar projects to life, from initial costs to final output, consider exploring our free e-course on solar panel manufacturing.
