Argo Energy Completes Financial Closing for 7.8MW Solar Project
Argo Energy, in renewable energy, announced that it has completed financial closing for a 7.8-megawatt (MW) solar power project and commenced full-scale construction.
The project, which Argo Energy has led from development since 2021 through all permitting processes, features a combined model integrating RPS (Renewable Portfolio Standard) and RE100 (100% renewable energy) programs.
"This project is designed to simultaneously meet RPS compliance requirements and RE100 demand from global corporations," said Jongyoung Jung, COO of Argo Energy, emphasizing that it represents a business model ensuring both flexibility and profitability in the renewable energy market.
Since initiating the project in 2021, Argo Energy has independently managed the entire development process, including site acquisition, administrative procedures, and permit acquisition. Following the completion of financial closing, the company has now entered the construction and operation phase.
"This project, developed entirely through our own capabilities from the early stages, demonstrates a business model that simultaneously satisfies RPS compliance and RE100 demand," said CEO Donguk Jo. "It represents a meaningful achievement that sets a new direction for domestic renewable energy development."
Beyond this project, Argo Energy is pursuing multiple additional solar developments and plans to strengthen its portfolio to meet growing RE100 demand over the medium to long term.
