Kolon Global announced on Dec. 13 that it signed a business agreement with Enercon, a leading German manufacturer of direct-drive wind turbines without gears, at Kolon Tower in Gwacheon, Gyeonggi Province, on Dec. 12. Enercon is recognized as one of the top three global wind power companies.Through
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.With valuations of wind players likely to drop amid concerns that rising costs will curtail wind investment, we cut our TP by 24% to W76,000. But, higher US orders from major customer Vestas in 3Q23
The amount of foreign direct investment (FDI) declared in Korea in the first half of this year has recorded its highest since statistics started being compiled in 1962. Analysis suggests that Korea has emerged as an alternative investment destination to China due to U.S.-China tensions.The Ministry
The author is an analyst for NH Ivestment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.Excluding AMPC subsidy effects, CS Wind’s 1Q23 results arrived short of expectations due to sales decline stemming from production disruptions at the US subsidiary. However, utilization rate is contin
Hanwha Solutions vice chairman Kim Dong-kwan discussed future business cooperation with CEOs of global companies at the Davos Forum.Hanwha Group announced on Jan. 19 that Kim, the eldest son of the group's chairman Kim Seung-youn, met with CEOs of global companies in the fields of liquefied natu
Vestas, the world’s largest wind turbine manufacturer, reported a US$300 million investment in South Korea at the World Economic Forum in Davos, Switzerland.An investment report signing ceremony was held at a hotel in Davos in the presence of Trade, Industry and Energy Minister Lee Chang-yang and Ve
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.Expectations for an increase in demand for renewable energy are rising again, thanks to Hanwha Solutions’ expansion of photovoltaic manufacturing facilities in the US and Vestas’ strong order intake i
The authors are analysts of NH Investment & Securities. They can be reached at ys.jung@nhqv.com. -- Ed. The US Senate approved the IRA, which includes provisions that will extend existing renewable energy incentives and create new incentives for production of green products in the US. A boost is als
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. Though mid/long-term growth potential for the global wind power market remains intact, new orders have been tepid as project margins have worsened due to rising cost. While short-term earnings deteri
The authors are analysts of Shinhan Investment Corp. They can be reached at eoyeon.hwang@shinhan.com and younghoon.song@shinhan.com, respectively. – Ed. 2Q21 OP in line with consensus at KRW28.2bn (+16.7%YoY)CS Wind posted operating profit of KRW28.2bn (+16.7% YoY) on sales of KRW279bn (+15.9%) for
An increasing number of global energy companies are entering the South Korean wind power market. In addition, South Korean energy companies are strengthening their partnerships with them. Under the circumstances, South Korea’s reliance on foreign wind power generation facilities is likely to keep ri
The authors are analysts of NH Investment & Securities. They can be reached at minjae.lee@nhqv.com and ys.jung@nhqv.com, respectively. -- Ed. Interest in nuclear power plants, including SMRs, is intensifying. While the realization of SMRs is still a fairly long way off, orders for overseas nuclear p
CS Wind, the world's No. 1 wind turbine tower manufacturer, announced on June 3 that it has acquired a 100 percent stake in a U.S. plant of Danish wind turbine manufacturer Vestas for US$150 million.CS Wind chairman Kim Sung-kwon inked an M&A contract with Vestas chairman Henrik Anderson at the
The author is an analyst of Shinhan Investment Corp. He can be reached at eoyeon.hwang@shinhan.com. -- Ed. 1Q21 OP beats consensus by 25.8% at KRW31.6bn (+94.2% YoY)CS Wind posted operating profit of KRW31.6bn (+94.2% YoY) on sales of KRW242.1bn (+33.7% YoY) for 1Q21, topping the consensus estimate
The authors are analysts of NH Investment & Securities. They can be reached at minjae.lee@nhqv.com and ys.jung@nhqv.com, respectively. -- Ed. Looking at large wind power plants, offshore construction boasts several advantages over onshore development, including superior wind speed/direction and fewe
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. Upgrading our mid/long-term earnings estimates and valuation multiples for CS Wind on: 1) an expected jump in sales at its US subsidiary; 2) strengthening environmental policies; and 3) expanding off
The author is an analyst of Shinhan Investment Corp. He can be reached at eoyeon.hwang@shinhan.com. -- Ed. 3Q20 OP of KRW31.7bn (+73.5% YoY) tops consensus by 10.6%CS Wind posted sales of KRW273.3bn (+46.8% YoY) and operating profit of KRW31.7bn (+73.5% YoY) for 3Q20. Sales continued to grow on the
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com. -- Ed. 1) Solar energy marketSolar energy installations to slide for first timeGlobal solar energy installations are projected to slip 7% y-y to 110GW in 2020. While more than 130GW in installations was ex
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com. -- Ed. CS Bearing supplies wind turbine bearings to global top-tier wind turbine maker GE. In addition to capacity expansion in Vietnam, CS Bearing is also focusing upon expanding its client base via its l
Korea Southern Power Co. announced on Nov. 9 that the company held a groundbreaking ceremony for a 51MW wind power plant in Amman, Jordan, on Nov. 6 (local time).The project was launched in 2011 at the request of the Jordanian government. The Korean company will build and operate 15 3.45 MW wind pow