South Korea’s POSCO International is entering India’s fast-growing solar energy market through a potential partnership with local renewable energy developer Sunkind Energy, as part of a broader strategy to scale up clean energy projects across emerging markets.
Executives from POSCO International recently visited Sunkind’s headquarters in Gurugram, Haryana, to explore opportunities in solar power development, according to Sunkind Energy. The meeting included discussions with CEO Hanish Gupta and other senior officials.
Founded in 2019, Sunkind Energy has executed more than 150 megawatts of EPC (engineering, procurement, and construction) projects and is rapidly expanding into manufacturing. The company is building a 1.5-gigawatt (GW) solar module plant in Rajasthan and planning a 2.5 GW integrated solar cell and module facility in Madhya Pradesh. In June, it also signed a partnership with China’s JA Solar to support construction of a 2.4 GW cell facility and a 4 GW module plant.
POSCO’s move into India aligns with the group’s renewed push to re-enter the Indian market, including plans to build an integrated steel mill in partnership with local conglomerate JSW Group. Previous attempts by POSCO to establish a steel presence in India were halted due to environmental opposition, but the company now seeks to bolster its reputation and diversify its portfolio through renewable energy investments.
India is a central pillar in POSCO International’s strategy to grow its energy business across Asia. In February, the company launched a regional energy business council in Hanoi, Vietnam, under the leadership of Executive Vice President Min Chang-ki. The initiative spans seven countries—India, Vietnam, Malaysia, Indonesia, the Philippines, Thailand, and Singapore—and aims to advance clean energy projects through cross-border collaboration.
India is currently the world’s fourth-largest renewable energy market, with high solar potential due to its geographic location. According to the Korea Trade-Investment Promotion Agency (KOTRA), the country is targeting 450 GW of renewable capacity by 2030, of which 280 GW is expected to come from solar power.
POSCO International is expected to leverage this momentum to establish a solid foothold in India’s solar supply chain and position itself for broader expansion across South Asia.
