[Click eStock] "Hyundai Energy Solutions Accelerates Benefits from Green New Deal This Year"

[Asia Economy Reporter Park Jihwan] Hi Investment & Securities forecasted on the 4th that Hyundai Energy Solutions will benefit from the acceleration of the Green New Deal as the global solar power market enters its second growth phase this year. Accordingly, they issued a 'Buy' investment opinion with a target price of 52,000 KRW.

Researcher Lee Sangheon of Hi Investment & Securities stated, "Although the global solar power market was expected to experience negative growth compared to the previous year due to the unexpected outbreak of COVID-19 last year, installation volume is expected to increase compared to the previous year as demand from major countries such as China, the United States, and Europe remains strong."

He particularly predicted that infrastructure investment for economic stimulus by governments worldwide will increase, especially in eco-friendly infrastructure. In the case of the United States, with the Democratic administration expected to rejoin the Paris Climate Agreement, the spread of renewable energy centered on solar power is anticipated to accelerate further.

Researcher Lee Sangheon said, "With the achievement of grid parity and climate change issues, the global solar power market is expected to grow by more than 20% compared to the previous year, entering its second growth phase."

Last August, with the completion of a 750MW capacity expansion, the solar module CAPA increased more than twofold from the existing 600MW to 1350MW. This expansion is expected to have a positive impact on the expansion of the U.S. market as the production volume of relatively higher-priced products increases.

He emphasized, "Due to policies such as the Green New Deal, the solar power market will expand not only domestically but also in countries like the United States," adding, "As Green New Deal policies are fully implemented, performance this year is also expected to jump up."

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