Daehan Green Power Signs 28.5 Billion KRW Solar EPC Contract with Daehan Green Energy

[Asia Economy Reporter Yoo Hyun-seok] Daehan Green Power announced on the 13th that it has signed two solar power design, procurement, and construction (EPC) and goods supply contracts worth a total of 28.5 billion KRW with Daehan Green Energy. This amount corresponds to 552% compared to last year's consolidated sales of 4.98 billion KRW and 740% compared to standalone sales of 3.85 billion KRW.

Excluding maintenance business, Daehan Green Power's order backlog has significantly increased from 11.8 billion KRW to 40.3 billion KRW. This contract is the first complete construction contract carried out after Daehan Green Power shifted its main business focus to the renewable energy sector. Daehan Green Power will be responsible for the entire process from equipment supply to installation and commissioning.

Park Geun-sik, CEO of Daehan Green Power, said, "We have launched a signal marking the full-scale promotion of renewable energy project business by inheriting the know-how accumulated by our affiliate Daehan Green Energy in renewable energy projects," adding, "This order will serve as an opportunity for Daehan Green Power to equip not only power generation investment but also EPC business capabilities."

He continued, "It will be a milestone that dispels concerns about designation as a management item due to four consecutive years of operating losses and instills confidence in the company's future among shareholders," and added, "The large-scale offshore wind power projects currently underway are progressing smoothly, and multiple offshore wind power project orders are expected soon."