[Special Stock] Hyundai Energy Doubles 'Green New Deal' Module Capacity... Holds Certified Solar Testing Labs in USA and Germany

[Asia Economy Reporter Hyungsoo Park] Hyundai Energy Solutions is soaring. It appears that the news of the government’s plan to establish a 20 trillion KRW scale ‘Policy-type New Deal Fund’ supported not only by the Korean New Deal government budget but also by pension funds, policy financial institutions, and private sector participation has influenced the stock price.

As of 1:39 PM on the 4th, Hyundai Energy Solutions is trading at 38,450 KRW, up 21.29% from the previous day.

Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki announced the ‘Plan to Establish a Public Participation New Deal Fund and Support New Deal Finance’ at the ‘1st Korean New Deal Strategy Meeting’ presided over by President Moon Jae-in at the Blue House on the 3rd.

The government plans to support the Korean New Deal through the establishment of the New Deal Fund and provide opportunities for the public to participate in New Deal investments to share the outcomes. The policy-type New Deal Fund will be created on a scale of 20 trillion KRW over five years. The government and policy financial institutions will invest to form a ‘mother fund’ similar to the existing fund-of-funds established for venture investments, and induce the formation of ‘sub-funds’ in which the public or financial institutions participate in a matching format.

Hyundai Energy Solutions’ core business is the sale of solar modules. The sales of solar modules account for a significant portion of total revenue. Recently, Hyundai Energy Solutions expanded a new solar module factory with a capacity of 750MW in Eumseong, Chungbuk.

With the expansion, Hyundai Energy Solutions’ module production capacity has doubled from the previous 600MW. The new factory has introduced state-of-the-art smart systems and unmanned automated robots, enabling management and analysis of all process histories and quality from raw material receipt to final product production.

Hyundai Energy Solutions entered the solar business in 2004 and holds solar certification testing laboratories designated by global certification bodies UL in the U.S. and VDE in Germany.

Ji-yeon Lee, a researcher at Shin Young Securities, explained, "The 750MW module expansion has been operating normally since the end of last month," adding, "The total production capacity will be expanded to 600MW for cells and 1.35GW for modules."

She continued, "This year’s sales volume is expected to increase by at least 200MW annually in-house production due to the module expansion," and added, "there is anticipation following the announcement of the domestic Green New Deal detailed plan."

She emphasized, "There is a plan to switch to the M6 line to improve cell line efficiency and productivity," and "there will be no impact on sales due to securing cell inventory and outsourcing production."

Earlier, on the afternoon of the 2nd, the Ministry of Trade, Industry and Energy held a ‘Green New Deal Policy Meeting’ chaired by Minister Sung Yun-mo to discuss institutional innovation measures in the renewable energy sector for achieving Green New Deal outcomes. As a pre-event to the policy meeting, the government signed an agreement for a 100MW-class joint solar R&D center with Hanwha Solutions, LG Electronics, Hyundai Energy Solutions, Sinsung ENG, Jusung Engineering, and Daewoo Electronic Materials.

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