In a recent feature by Hankyung ESG, ESG-focused publication of Hankyung (The Korea Economic Daily), one of Korea’s leading business and economy media outlets, Kwangjin shares his perspectives on the evolving energy landscape, responsible leadership, and the role businesses play in driving a sustainable energy transition. The interview also explores how organisations can create long-term value by balancing economic growth with environmental stewardship, community engagement, and strong governance.
*Original article is in Korean: https://www.hankyung.com/article/202605184526G
Continue reading for the English translation.
Singapore-headquartered Vena Group is a global renewable energy company developing solar, wind and energy infrastructure projects across the Asia-Pacific region. Through its Mingus Solar Project in Taiwan, the company has presented a model of “responsible development” that combines ecological restoration with clean energy generation. It is now accelerating its ESG-driven business expansion while operating an 8.6 GW renewable energy portfolio.
A former salt field site in Yizhu, Chiayi County, Taiwan, has been transformed into a large-scale eco-friendly solar farm, drawing attention from the renewable energy industry across Asia-Pacific.
Vena Energy, the renewable energy business of Singapore-headquartered global green solutions company Vena Group, recently developed the 70 MW Mingus Solar Project on an 80-hectare site equivalent to the size of 110 football fields. The project presents a new development model that combines ecological restoration with renewable energy generation.
The Mingus Solar Project is located on a site that was once at the centre of Taiwan’s salt industry but had been left idle for decades following the industry’s decline. Vena Energy installed approximately 200,000 solar panels across the site, while developing around 30% of the total area into ecological ponds and artificial habitats. As migratory birds and rare bird species began returning to the area, the project has been recognised as an example of how renewable energy development can be pursued alongside biodiversity restoration.
The project established a long-term ecological monitoring system in cooperation with specialised institutions including the Kaohsiung Wild Bird Society and Tunghai University. It also received the Bronze Award in the SDG 15 Life on Land category at the Taiwan Sustainability Action Awards (TSAA). Taiwan’s first Green Energy Eco-Education Centre was also established within the project site, introducing a case study in which industrial heritage and ecological conservation coexist. To date, the centre has welcomed more than 4,000 visitors.
8.6 GW in Operation Across Asia-Pacific… Expanding Renewable Energy with ESG at the Core
Vena Energy has an infrastructure platform that spans the full lifecycle of renewable energy projects, from development and financing to construction and operation. Its projects include solar, onshore and offshore wind, and hybrid renewable energy projects across Asia-Pacific markets including Taiwan, Australia, Japan, the Philippines and Indonesia.
As of 2024, Vena Energy’s operational, construction and contracted (OCC) portfolio stood at 8.6 GW, with the capacity to supply electricity to approximately 8.7 million households. The company expects its portfolio to reduce around 10.7 million tons of carbon dioxide (CO₂) emissions annually. This is estimated to be equivalent to planting more than 1.7 billion pine trees.
Vena Energy has consistently demonstrated execution capabilities in complex regulatory environments. From utility-scale solar projects in Taiwan to large-scale onshore wind developments in Japan and Southeast Asia, the company has successfully delivered projects across diverse markets, while integrating ESG principles into its financing structures and overall operations.
The company has also been strengthening ESG-based management while expanding its renewable energy business and green digital infrastructure business. It transparently discloses quantitative indicators, including greenhouse gas emissions reductions and resource management performance, on an annual basis in line with the Global Reporting Initiative (GRI) standards. Through Vena Nexus, its renewable energy-powered green data centre platform, the company is also pursuing a strategy that links decarbonisation with the growth of digital infrastructure.
“Clean energy projects are not simply power generation businesses; they must be designed together with environmental conservation, community collaboration and transparent governance,” said Kwangjin Cheong, Head of Korea at Vena Group. “It is important to advance the energy transition in a way that people can trust.”
Strengthening ESG Management, from Community Partnership to Green Finance
Vena Group is also carrying out community engagement initiatives. In the Philippines, through its “Seats for Sustainability” programme, the company supported local carpenters in producing more than 1,000 school chairs, contributing both to improved educational environments and job creation. In Indonesia, it has ran a programme to support women entrepreneurs, while in Australia, it operated customised training programmes for local residents and students in connection with the construction of the Tailem Bend Battery Energy Storage System (BESS). In Korea, the company continues to support schools and engage with residents in the Yokjido area of Tongyeong, South Gyeongsang Province.
The company has also strengthened ESG-linked structures in the financial sector. Based on the principles of the United Nations Global Compact (UNGC), Vena Group secured a JPY 87 billion, or approximately USD 600 million, sustainability-linked loan (SLL) in the global financial market. The structure is advanced in that the loan interest rate is adjusted depending on whether ESG key performance indicators (KPIs) are achieved. The company also obtained a second-party opinion (SPO) from an external specialist organisation to maximise investor confidence.
Vena Energy has consistently demonstrated execution capabilities in complex regulatory environments. From utility-scale solar projects in Taiwan to large-scale onshore wind developments in Japan and Southeast Asia, the company has successfully delivered projects across diverse markets, while integrating ESG principles into its financing structures and overall operations.
As the Korean government’s “2050 Carbon Neutrality” policy enters the full implementation stage, the renewable energy industry is increasingly moving beyond the simple expansion of generation facilities. Resident acceptance, environmental preservation and the establishment of governance frameworks are becoming more important. In particular, as offshore wind emerges as a key area in the national industrial transition strategy following solar, energy storage systems (ESS) and grid modernisation, whether projects are developed responsibly is becoming a decisive factor in business competitiveness.
As large-scale offshore wind developments focused on establishing domestic supply chains and revitalising coastal economies are being pursued in regions including South Jeolla and South Gyeongsang provinces, the success of these projects is expected to depend on how effectively developers manage marine environmental surveys, coexistence with fisheries and stakeholder collaboration.
“Offshore wind is not simply an engineering business; it is a project that must secure the trust of local communities, investors and regulators at the same time,” said Kwangjin. “It is important to incorporate environmental and governance considerations from the initial design stage.”
[Interview]
Kwangjin Cheong, Head of Korea at Vena Group: “Trust and Execution Capabilities Are at the Core of Renewable Energy Development”
Kwangjin Cheong, Head of Korea at Vena Group, is an energy infrastructure expert who has led renewable energy development, investment and business operations across the Asia-Pacific region for nearly 20 years. He has held key leadership roles at global renewable energy companies including SunEdison, Conergy and SCHOTT, as well as serving as President and Chief Investment Officer (CIO) of Nippon Renewable Energy (NRE), a Japan-based financial investment company specialising in the energy sector. He currently oversees Vena Energy’s overall business in Korea.
Kwangjin leads the full value chain from business development and investment to engineering, procurement and construction (EPC), as well as operations and maintenance, with a focus on advancing Korea’s sustainable energy transition and expanding collaboration with local communities.
“ESG is not a separate activity; it is embedded in every decision-making process,” Kwangjin said. “From the early stages of a project, we consider not only profitability and technical feasibility, but also environmental impact, community relations and long-term sustainability.” Vena Group is currently pursuing an integrated business strategy across Asia-Pacific that spans solar, onshore and offshore wind, battery energy storage systems (BESS) and data infrastructure. The following is a Q&A with Kwangjin.
Q. What are Vena Group’s core competitive strengths?
“Vena Group is not simply a developer. We have an integrated platform capable of handling development, investment, construction and operations. In particular, our core competitive strength lies in our ability to execute complex projects in a stable manner, based on the experience we have accumulated across diverse markets in Asia-Pacific. I believe what differentiates us is not simply the scale of our business, but our ability to complete actual projects and continue operating them over the long term.”
Q. What experience has had the greatest influence on your current business strategy?
“Rather than one specific project, it is the overall experience I have gained in pursuing global energy infrastructure businesses that has had the greatest impact on my current decision-making. I have learned firsthand that aligning global capital with local stakeholders is what determines the success or failure of a project. In markets such as Korea, Japan and Taiwan, cooperation with a wide range of stakeholders — including central and local governments, development partners, local communities and fishing communities — is particularly important. Ultimately, I believe sustainable projects are completed on a foundation of trust with local communities.”
Q. What are the key conditions for successfully delivering projects in Asia-Pacific?
“A deep understanding of policies and regulations, strong local partnerships and the ability to complete projects through to the end are all important. Because market structures differ from country to country, a tailored strategy for each market is needed, rather than a one-size-fits-all approach.”
Q. How do you assess Vena Group’s current 8.6 GW portfolio?
“We have built an 8.6 GW portfolio across Asia-Pacific. What matters is not simply scale, but actual performance. We are continuing selective growth based on long-term demand, while steadily advancing projects from the construction stage through to operations.”
Q. Why is Vena Group expanding its business across solar, wind and data infrastructure?
“As energy systems change rapidly, it is becoming increasingly difficult to meet demand with a single technology alone. We are building a balanced portfolio that combines solar, onshore and offshore wind, BESS and digital infrastructure. In particular, as demand for digital infrastructure such as data centres continues to grow rapidly, demand for green power is also expanding.”
Q. What is the direction of the recently expanding Vena Nexus business?
“Vena Nexus is a natural extension of our existing renewable energy business. Customers are demanding integrated solutions that combine data infrastructure with green energy, and Vena Group sees long-term growth potential in this area.”
Q. What is the significance of the Mingus Solar Project in Taiwan?
“It is a case that demonstrates how renewable energy development and ecological conservation can coexist. By protecting migratory bird habitats and establishing a long-term environmental monitoring system, the project has achieved a balance between power generation and environmental preservation.”
Q. What are some examples of collaboration with local communities in Korea?
“We have worked closely with local fisheries groups, residents and local governments in island areas such as Yokjido. In particular, to secure community acceptance, we operated a site visit programme to an actual wind farm. This gave residents the opportunity to directly experience the noise levels and operating environment, which helped shift perceptions of renewable energy in a positive direction. We have also maintained continuous communication and transparent information sharing from the early stages, and we are working to ensure that the project makes a meaningful contribution to local communities.”
Q. What opportunities and challenges do you see in Korea’s offshore wind market?
“Korea has significant growth potential, based on its geographic conditions and the competitiveness of its shipbuilding and maritime industries. However, there is a need to make the cooperation framework among ministries and local governments more efficient. Collaboration with the fishing industry and local communities is also an important challenge that must be addressed over the long term.”
Q. What role does Vena Groupseekto play in Korea’s path toward carbon neutrality?
“Vena Group believes it can contribute to Korea’s carbon neutrality goals through large-scale green energy solutions. Based on projects such as Taean and Mijo in Namhae, we are focused on building an integrated energy platform that combines renewable energy, BESS and digital infrastructure. We plan to continue serving as a long-term partner in Korea’s energy transition.”