Daehan Green Power "Parent Company Daehan Green Energy Secures 100 Billion KRW Investment"

[Asia Economy Reporter Yoo Hyun-seok] Daehan Green Energy, the parent company of Daehan Green Power, a specialist in eco-friendly renewable energy, has secured funding worth 100 billion KRW.

Daehan Green Power announced on the 27th that its parent company, Daehan Green Energy, signed an investment contract worth 100 billion KRW with Project Tortu Investment Purpose Corporation. This investment involves Project Tortu Investment Purpose Corporation acquiring 10-year maturity bonds with warrants (BW) issued by Daehan Green Energy.

The funds secured through this investment will be used for large-scale offshore wind power projects currently underway by Daehan Green Energy and Daehan Green Power.

Established in 2011, Daehan Green Energy is a renewable energy specialist developer that handles all processes from the planning, design, permitting, installation, equity investment, and project financing of wind and solar power plants to ownership, operation, and maintenance of power plants, covering the entire lifecycle of power generation projects.

In June, Daehan Green Energy acquired management rights of Daehan Green Power through the transfer of the largest shareholder’s stake, and in July, CEO Park Geun-sik of Daehan Green Energy was appointed as CEO of Daehan Green Power at the shareholders’ meeting.

A representative of Daehan Green Energy stated, "Through this investment attraction, we have secured sufficient capital to accelerate large-scale power generation projects," adding, "We expect the ongoing offshore wind power projects to proceed smoothly, aligned with favorable government policy environments and the renewable energy industry situation."

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