Latest news with #NitinApte
GMA Network
a day ago
- Business
- GMA Network
Vena Group forms AI-ready data center development unit
Vena Global Group Pte Ltd or Vena Group has announced the launch of Vena Nexus Group Pte Ltd. —its wholly owned subsidiary dedicated to the development of AI-ready data center infrastructure (AI-DC). In a news release, Vena Group said it has transferred all related activities, personnel, and development pipeline for AI-DC solutions from Vena Energy, its renewable energy arm, to Vena Nexus. The company said the move reflects its goal to deliver hyperscale-grade data center campuses deeply integrated with large-scale renewable power projects, as well as distributed edge facilities co-located with its renewable energy sites. 'With traditional workloads continuing to grow and AI demand for power-secure infrastructure accelerating across APAC, Vena Nexus represents the natural extension of our platform into high-performance, AI-ready digital infrastructure,' said Nitin Apte, CEO of Vena Group. 'The establishment of Vena Nexus enables sharper execution, focused capital deployment, and dedicated partnerships, while maintaining strong integration with Vena Energy as the power enabler behind our digital growth,' said Apte. Vena Nexus inherits a pipeline of approximately 3 GW (gigawatts) of data center developments originally initiated within Vena Energy, including over 1 GW of AI-DC projects with secured power, land, and permits. Vena Nexus, it said, is backed by a team of 60 specialists across data center development, digital infrastructure, commercial strategy, and investment. The new unit also leverages Vena Group's broader corporate platform, comprising nearly 700 professionals in development, construction, and operations, and more than 300 specialists in legal, finance, ESG, procurement, and other corporate functions. Vena Group's current footprint includes Japan, Singapore, Malaysia, and the Philippines, with ongoing expansion into Thailand, South Korea, Australia, and other existing Vena Group markets across the Asia Pacific region. —VAL, GMA Integrated News
Yahoo
26-03-2025
- Business
- Yahoo
Vena Energy invests $200m in South Korea's Yokji Offshore Wind Project
Green energy solutions provider Vena Energy has announced a Won292.89bn ($200m) investment in South Korea's renewable energy sector. This investment is directed towards the Yokji Offshore Wind Project in South Gyeongsang Province and aims to accelerate the country's shift to renewable energy and support its energy independence. The project, with a planned capacity of 384MW, is expected to play a pivotal role in diversifying South Korea's energy mix. By increasing the share of locally generated energy, the project will reduce reliance on imported fossil fuels, contributing to the country's long-term energy security and carbon neutrality goals. Vena Energy said the South Korean Government has welcomed its investment. It added that it aims to build partnerships with local communities, fisheries, and suppliers to ensure the project delivers economic and social benefits. The company added that the Yokji Offshore Wind Project is currently assessing its industrial contributions to the local supply chain while seeking ways to coexist with local fishermen. Vena Energy CEO Nitin Apte said: 'Our investment in South Korea underscores our commitment to supporting the country's energy transition and independence. 'By expanding our renewable energy projects and strengthening local partnerships, we aim to contribute to a more sustainable and resilient energy future.' In addition to the Yokji Offshore Wind Project, Vena Energy has developed another offshore wind project in South Korea. The 500MW Taean Offshore Wind Project, awarded in the 2024 auction, is expected to begin construction by the end of 2026 in partnership with Copenhagen Infrastructure Partners. Upon completion, the project is anticipated to generate enough electricity to power approximately 300,000 homes annually. "Vena Energy invests $200m in South Korea's Yokji Offshore Wind Project" was originally created and published by Energy Monitor, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
