Government Green New Deal Policy Benefits Expected
Wind Power Stocks Unison, CS Wind, and Others Soar Vertically
[Asia Economy Reporter Hyungsoo Park] Daelim CNS is showing strong performance. Since the largest shareholder changed to VL Samil and one other person, expectations have been reflected that synergy effects will increase in the renewable energy sector, including offshore wind power.
At 10:40 a.m. on the 10th, Daelim CNS was trading at 12,300 KRW, up 13.89% from the previous day.
Daelim CNS is the number one company in the domestic concrete pile and steel bridge sectors. Based on cumulative figures for the first half of this year, it recorded sales of 95.3 billion KRW and operating profit of 1.4 billion KRW.
Daelim CNS's Gunsan plant is located within the Gunjang Industrial Complex, the largest wind power cluster in Korea, which includes Gunsan Port designated as a support port for the 2.5GW Southwest Sea offshore wind project, as well as major equipment suppliers such as towers, jackets, blades, and turbines. It holds key domestic and international certifications for wind power structure manufacturing, including EN1090 (TUV, Germany). It manufactures offshore wind power structures and produces wind power equipment.
In 2018, Daelim CNS carried out a research and development (R&D) project commissioned by the Ministry of Land, Infrastructure and Transport, developing design technology for 10MW-class steel and 3MW-class hybrid composite wind power towers. It secured optimized technology that can commercialize the design and construction stages of the new type of wind power tower.
Recently, Daelim CNS's largest shareholder changed. VL Samil purchased 50.81% of shares held by Daelim Industrial. This consortium was formed by Samil Ecotech, a domestic construction aggregate company, and VL Investment, a private equity fund (PEF) management firm specializing in environmental energy.
Park Young-jun, CEO of VL Investment, a professional operator in renewable energy, is a leading environmental expert with a Ph.D. from POSTECH (Pohang University of Science and Technology). He has worked at Samsung Engineering's Technology Research Institute and completed postdoctoral research at the University of Cambridge, publishing dozens of papers and being listed in major international biographical directories such as IBC.
If Daelim CNS strengthens its business in wind power, renewable energy, and environmental sectors along with the change in the largest shareholder, it is expected to become a new growth engine. Daelim CNS recently held an extraordinary general meeting of shareholders and appointed new management. It also recruited Kim Young-man, chairman of the Korea Electric Power Veterans Association, as an outside director.
Recently, stocks of wind power-related companies have sharply risen in the domestic stock market. Unison, whose largest shareholder recently changed, has seen its stock price increase tenfold since March, and CS Wind's stock price has risen about fivefold, with its market capitalization approaching 2 trillion KRW. This is the result of growing expectations for the wind power industry’s growth as the government implements the Green New Deal policy.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
