Strengthening Eco-Friendly Energy... SK Ecoplant Acquires Samkang M&T

Core Manufacturer of Offshore Wind Power Equipment

Invests 324.6 Billion KRW to Acquire Shares

[Asia Economy Reporter Kim Min-young] SK Ecoplant has strengthened its eco-friendly energy business by acquiring Samkang M&T, an offshore wind power company.

SK Ecoplant announced on the 18th that it signed a Share Purchase Agreement (SPA) to secure management rights of Samkang M&T following a board resolution on the 17th. The company will invest approximately 342.6 billion KRW to acquire 31.83% (16,296,413 shares) of Samkang M&T’s shares. Additionally, it will invest about 116.9 billion KRW in convertible bonds (CB) issued by Samkang M&T, convertible into 5,372,530 shares.

Founded in 1996, Samkang M&T is a manufacturer of offshore wind turbine substructures. The substructure is a core component of offshore wind power that supports the wind turbine, and must withstand extreme marine environmental conditions for over 20 years, requiring high technical expertise and reliability, the company explained.

Currently, Taiwan is its main export market, and it has secured global clients including Ørsted, the world’s leading offshore wind developer from Denmark, as well as Jan De Nul from Belgium and Keppel from Singapore.

Through this agreement, SK Ecoplant plans to secure manufacturing capabilities for offshore wind turbine substructures, a key element of offshore wind power, and expand production capacity to meet growing demand in Northeast Asia. SK Ecoplant entered the offshore wind power market by obtaining power generation permits for the 136 MW Ulsan Southeast Coast offshore wind power project in 2018.

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