The OCI Solar Energy Fund 1 (“Fund”) was conceived and established to address the growing demand for access to investments in solar projects within the South Korean market.
The OCI Solar Energy Fund 1 (“Fund”) was conceived and established to address the growing demand for access to investments in solar projects within the South Korean market which has been fueled by a government drive to promote renewable energy to 20 percent of its energy mix by 2030 and pledge to reduce the country’s reliance on nuclear power. South Korea plans to add 30.8 GW of generating capacity from solar power over this period. As of 2017, it has 5.7 GW of generating capacity from solar power.
The Fund is established in South Korea in collaboration with Samsung Asset Management Co., Ltd. and OCI Company (“OCI”), and is a first-of-its-kind fund in South Korea to be established with joint efforts by financial investors and a strategic partner. OCI provides the Fund’s investors access to their development expertise and network in the region, as well as a pipeline of projects developed and owned by OCI or constructed and operated by OCI. OCI, headquartered in Seoul, is a leading global renewable energy and chemical company with operations in Korea, China, Vietnam, Malaysia, Philippines, Europe and North America, and revenues exceeding US$3bn.