The latest renewable energy news includes announcements from Gurin Energy, Samana Energy, Alternergy, Jindo Green Solar project, and others.
Naver to Invest in 216 MW Jindo Solar Project and Sign Long-Term PPA
South Korean internet company Naver plans to acquire a stake in Gurin Energy’s 216 MW Jindo Green Solar project and purchase renewable electricity from the facility under a long-term PPA. The arrangement combines direct project investment with corporate clean-energy procurement, giving Naver both an ownership interest and access to renewable electricity. Technology companies are becoming increasingly important clean-power buyers as electricity demand from cloud services, AI and digital infrastructure expands. The 216 MW project will provide a sizeable source of renewable generation in South Korea, where limited land availability and grid constraints complicate large solar development. Naver’s participation should strengthen the project’s commercial position while supporting the company’s corporate decarbonisation strategy.
Riyadh Cement Signs 25-Year Solar PPA with Samana Energy in Saudi Arabia
Riyadh Cement has signed a 25-year power purchase agreement with Samana Energy for solar electricity from a new facility expected to enter operation in 2027. The long contract duration provides revenue certainty for the renewable project while allowing the cement producer to reduce dependence on conventional electricity. Cement manufacturing is highly energy intensive, making renewable PPAs increasingly important to industrial decarbonisation strategies. The agreement also demonstrates growing corporate solar procurement in Saudi Arabia beyond utility-led mega-projects. The kingdom is rapidly expanding photovoltaic generation under its energy-diversification strategy, supported by exceptionally strong solar resources. Commercial operation targeted for 2027 gives Samana a defined development timeline while providing Riyadh Cement with long-term visibility over part of its electricity supply.
Alternergy Raises $32 Million Through Philippine Green Bond Issue
Philippine renewable-energy developer Alternergy Holdings has raised approximately $32 million through a green bond placement in the domestic debt market to support its expanding clean-energy portfolio. Alternergy develops wind, solar, hydropower and other renewable projects across the Philippines, giving the financing potential application across multiple technologies. Green bonds allow developers to tap institutional debt capital while linking proceeds specifically to eligible environmental investments. The transaction is significant as Philippine renewable developers require increasing amounts of capital to convert their growing project pipelines into operating assets. Domestic green financing can complement bank lending and international investment while reducing dependence on a single funding source as Alternergy progresses construction and development of its renewable portfolio.
