In a bold stride toward renewable energy leadership, Nuveen Infrastructure has secured $171 million in financing to power one of South Korea’s most ambitious solar projects — the 137MW Shinan Salt Farm Solar Project. This landmark investment not only underscores the growing global commitment to clean energy but also positions South Korea at the forefront of large-scale solar innovation.

Nuveen Infrastructure’s latest funding milestone comes with the strong backing of a banking consortium led by KB Kookmin Bank, one of South Korea’s premier financial institutions. Joined by five other undisclosed financial entities, this collective effort represents a significant vote of confidence in the renewable sector’s potential. The secured $171 million will fuel the development of the Shinan Salt Farm Solar Project, an initiative designed to transform a traditional salt farming area into a hub for sustainable power generation. Such collaborations mark a pivotal shift in the financial landscape, where banks and investors are increasingly aligning with environmental, social, and governance (ESG) goals.

Situated in South Jeolla province, the 137MW Shinan Salt Farm project stands as a joint investment between SK Innovation E&S and Nuveen Infrastructure. By converting a vast salt farm into a high-capacity solar facility, the project merges tradition with technology. Once operational by December 2026, the plant will deliver clean energy under a long-term power purchase agreement (PPA) with SK Group, ensuring 100% utilization of its generated output. This agreement not only stabilizes revenue streams but also reflects SK Group’s dedication to integrating sustainable energy sources into its operations.

The Shinan Salt Farm Solar Project serves as more than just an energy milestone—it’s a blueprint for future renewable collaborations in Asia. By leveraging strategic partnerships, long-term PPAs, and innovative land-use models, it demonstrates how infrastructure investments can drive both economic and environmental impact. For investors and developers alike, projects like this highlight the vast potential in renewable transitions and the importance of financing mechanisms that make them possible. As the world continues to accelerate its clean energy transition, South Korea’s Shinan Salt Farm stands as a shining example of what’s possible when finance meets forward-thinking sustainability.

Nuveen’s $171 million funding success for the Shinan Salt Farm Solar Project is not just a financial win—it’s a signal of momentum in Asia’s renewable energy movement. With strategic partnerships, solid financing, and a clear operational roadmap, this project sets the stage for a more sustainable energy future.

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