Susan Industry , a specialist in comprehensive maintenance solutions for power plants, announced on the 20th that it has acquired a 43% stake in Omisan Wind Power Generation as part of its expansion into the renewable energy business, becoming the largest shareholder.
This acquisition is a strategic decision to expand the business area of Soosan Industry to the wind power generation sector in addition to its existing solar power generation business capabilities. The company used some of the public offering funds raised through the IPO for this acquisition, and through this, it has established an energy portfolio that encompasses nuclear power, thermal power, solar power, and even wind power.
Omisan Wind Power Plant is a wind power plant complex located on a site of approximately 30,000 pyeong in Omisan, Seokpo-myeon, Bonghwa-gun, Gyeongbuk. The total installed capacity including 14 generators is approximately 60.2 MW, and the annual power generation is approximately 98,700 MWh. With this stake acquisition, Ssangyong Industry plans to accumulate experience in operating wind power plants and directly carry out maintenance (O&M) business.
In addition, Ssangyong Industry announced that it is also considering expanding its renewable energy business in Southeast Asia. It is currently developing a solar power generation business through its local subsidiary, SH Solar Farm VINA, in Vietnam, and plans to seek expansion into Southeast Asia and other regions based on its experience investing in wind power generation.
A representative of Ssangyong Industry said, “In line with the government’s carbon neutrality and renewable energy expansion policies, we are strategically diversifying our renewable energy business,” adding, “Through this equity acquisition, we will make a full-fledged entry into the wind power generation market and strengthen our foundation for stable profit generation.”
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