KRPN, Third-Party Allocation Rights Offering from Daehan Green Energy... "Full-Scale Collaboration Between Both Companies"

[Asia Economy Reporter Hyunseok Yoo] KRPN has decided to proceed with a paid-in capital increase worth 3 billion KRW from Daehan Green Energy. Through this capital increase, the strategic collaboration between the two companies will be strengthened, and KRPN's efforts to build a business portfolio centered on renewable energy are expected to gain further momentum.

KRPN announced on the 20th through a public disclosure that it will conduct a paid-in capital increase worth 3 billion KRW from Daehan Green Energy via a third-party allotment method. The new shares issued through the capital increase will amount to 3.25 million shares and will be subject to a one-year lock-up period.

A KRPN official stated, "Through this investment attraction, we have been able to strengthen the strategic collaboration system with Daehan Green Energy through joint investment and joint development," adding, "Since the scale of the Chilsan Offshore Wind Power Project promoted by Daehan Green Energy is large, we will start fundraising in earnest beginning with the collaboration between the two companies."

He continued, "This project requires equity participation from institutional investors and KEPCO Power subsidiaries, and Daehan Green Energy has already successfully attracted equity investments over a considerable period while carrying out major projects," further stating, "The Chilsan Offshore Wind Power Project is a representative project of Daehan Green Energy, and expectations for the 'Green New Deal' policy, which is being introduced as a measure to respond to the economic downturn caused by the COVID-19 pandemic, are growing, so equity participation is expected to proceed smoothly."

Meanwhile, KRPN has previously announced plans to invest 10 billion KRW in the 160MW (megawatt) scale 'Chilsan Offshore Wind Power Project' promoted by Daehan Green Energy. KRPN acquired convertible bonds worth a total of 10 billion KRW, including 2 billion KRW of the first tranche of convertible bonds. Follow-up investments are expected to be made consecutively.

This content was produced with the assistance of AI translation services.