SGC Energy has approved an 86.9 billion won investment, about $63 million, as a limited partner in the tentatively named SGC-KIS No. 1 Private Equity Fund, established with Korea Investment & Securities. The fund will work with SGC AI Infra on a 60-megawatt AI data center in Gunsan, where construction is scheduled to begin in October. Pilot operations remain targeted for the third quarter of 2027 and commercial operations for the first quarter of 2028. SGC Partners, Korea Investment & Securities and Harvest Equity Partners will serve as co-general partners and assemble five key management personnel. The fund will design the project’s financing structure and handle project-finance loan agreements and construction contracts on favorable terms, while SGC AI Infra oversees the project’s business model and strategy. SGC Energy is also pursuing an on-site power model that supplies electricity directly from its own plants to AI data centers. It targets commercial operation of a 240MW AI data center by 2030, followed by an liquefied natural gas power plant, and aims to offer South Korea’s first AI energy infrastructure solution combining data centers with power infrastructure. The 60MW and 240MW phases will be developed modularly on land already secured, while the company has filed for a power-grid impact assessment for the larger project and plans to complete its final review by September 2028 and start construction in 2029.