The government creates a power generation complex by 2030
CS Wind, up 5.66% to close 8,9600 won
Photo = Getty Image Bank
CS Wind, a manufacturer of wind power equipment(89,600 +5.66%) Stock prices soared. The government announced that it would build an offshore wind farm in Sinan-gun, Jeollanam-do by 2030.
On the 8th, CS Wind closed the deal at 89600 won, an increase of 5.66%. At the beginning of the market, it rose 27.35% to record 108,000 won, breaking the record high. CS Wind, which produces wind towers, has steadily increased its stock price last year in anticipation of its new and renewable energy policy. The current share price jumped more than 11 times compared to the low of last March (7710 won). Although the number of shares increased by 22% due to the capital increase, the shareholder value was diluted. Moon Kyung-won, a researcher at Meritz Securities, said, “It was raised through a paid-in capital increase to build a factory in the United States.”
The surge in CS Wind on this day is interpreted by the influence of President Moon Jae-in visiting Shinan-gun on the 5th and revealing the investment plan. According to the plan, the government will invest a total of 48 trillion won with the private sector by 2030 to build a 8.2GW offshore wind farm in Shinan. Hanwha E&C Doosan Heavy Industries & Construction(12,250 +3.81%)At this agreement ceremony, the investment plan was announced, and KEPCO(24,050 +2.12%), SK E&S, offshore wind power manufacturer CS Wind, Samgang M&T(20,250 +1.50%)Is expected to participate in this project.
It is still unknown how much CS Wind will benefit from this project. Researcher Moon pointed out, “It is too early to estimate the degree of benefit for each company because the order plan or exact schedule is not available.” Jeong Yeon-seung, a researcher at NH Investment & Securities, predicted that “Since there are not many companies with offshore wind business experience in the global market, CS Wind with experience can win some orders.”
CS Wind is already supplying towers to the world market. It has production facilities in China, Vietnam, Malaysia and the UK, and plans to build two new factories in the US. It is supplying towers to major global wind turbine companies such as General Electric, Vestas and Siemens.
Reporter Choi Ye-rin [email protected]
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