SK Energy, SK REIT to establish complex energy platforms

South Korea's SK Energy announced on Wednesday its partnership with Clean Energy REIT, a real estate subsidiary of SK REIT, to embark on the SK Eco-friendly Complex Station Structure Upgrading Project.

The memorandum of understanding was signed on Tuesday, aiming to develop SK Energy's gas stations into comprehensive energy platforms.

Clean Energy REIT, established by SK REIT in 2021 as a wholly owned subsidiary, will oversee the management of the 116 gas station sites acquired from SK Energy.

The vision is to transform these locations into complex stations that offer a range of services, including refueling, electric vehicle (EV) charging, fuel cell power generation, car wash and logistics.

The first gas station selected for development into a complex station is the SK Sihwa Industrial Gas Station in Siheung, Gyeonggi Province. Situated near a busy six-lane thoroughfare and surrounded by industrial and commercial districts, the station enjoys a significant customer base of both passenger cars and trucks.

The construction of the complex gas station is expected to commence this year following the necessary approval processes. The existing canopy-style gas station will be dismantled, making way for a three-story building dedicated to urban logistics facilities. The conversion will turn the gas station into an indoor facility.

The rooftop of the new structure will accommodate fuel cells, solar panels and other distributed power facilities. Additionally, a model that utilizes the electricity generated on-site to provide EV charging services will be introduced in compliance with pertinent regulatory reforms.

SK REIT aims to enhance the asset value of its current SK gas station sites and establish business models with eco-friendly energy supply functions. The endeavor aligns with their commitment to promoting sustainable energy solutions.

Write to Mi-Sun Kang at misunny@hankyung.com