[Featured Stock] Sinsung ENG's Green New Deal Ultra-Competitive Technology Strategy... "Promoting Perovskite Solar Cell Development"

[Asia Economy Reporter Yoo Hyun-seok] As expectations for the government's Green New Deal promotion rise, related stocks are soaring, with Sinseong ENG also expanding its gains.

As of 2:28 PM on the 4th, Sinseong ENG was trading at 1,875 KRW, up 20.58% (320 KRW) from the previous trading day.

Earlier, on the 2nd, the Ministry of Trade, Industry and Energy held a 'Green New Deal Policy Meeting' remotely. During the policy meeting, the ministry announced systems and implementation measures for RE100 compliance, and also signed a business agreement between the ministry and companies to secure global competitiveness for domestic solar power companies.

Sinseong ENG participated as a signatory institution in the business agreement. Through the agreement, government agencies including the Ministry of Trade, Industry and Energy and the Korea Energy Technology Evaluation Institute, along with Sinseong ENG and other domestic related companies, will jointly establish and operate a shared research center.

The solar power research center will be built as a 100MW scale pilot line. It will support the development of high-efficiency technologies and mass production of domestic solar cells and modules to enable global competitiveness.

Recently, R&D to improve the efficiency and output of solar cells and solar modules has been rapidly progressing both domestically and internationally. This is becoming a competitive advantage in the renewable energy market, which plays a crucial role in the transition to a 'carbon-zero era.' Sinseong ENG, as a first-generation solar power company in South Korea, is conducting R&D in various solar power technologies, including the development of 'high-efficiency crystalline monolithic tandem solar cell technology exceeding 25% efficiency.'

Sinseong ENG is also conducting product-related technology research on perovskite solar cell technology, which is attracting attention as a new high-efficiency trend technology, commercialization of bifacial modules, and nano-material laminated solar cell technology. In addition, it is developing technologies in diverse fields including virtual power plants (VPP) related to distributed energy integrated management platforms. Through related technology research, the company plans to secure differentiated competitiveness in the Green New Deal era.

Sinseong ENG is investing 12.2 billion KRW for a 600MW solar module line in Gimje. Along with the existing 250MW cell, 200MW module, and 70MW high-efficiency module lines, it will have a total production capacity of 1GW. The new factory will also be capable of applying large-area wafers (M4/M6) in line with wafer trend changes. The new factory is scheduled to start operations in the first quarter of next year. It is expected to contribute approximately 180 billion KRW in annual sales. Since last year, all cells and high-efficiency modules have been exported to the U.S., improving the performance of the RE business division.