LS Electric Secures 76.4 Billion KRW EPC Contract for Yeonggwang Green Solar Project, Strengthening Renewable Energy Portfolio
LS Electric received the Notice to Proceed for the Yeonggwang Green Solar Power Plant EPC contract signed on February 11, 2026, and confirmed the contract period from June 5, 2026 to July 20, 2028.
The project involves installing approximately 90MW solar power facilities and 54km of 154kV transmission lines in Yeonggwang County, South Jeolla Province. LS Electric's portion is 76.4 billion KRW out of the total 186.5 billion KRW contract, and a separate management and operation contract worth 49.4 billion KRW was also signed.
This contract with counterparty K.E.N Co., Ltd. represents 1.7% of LS Electric's 2024 consolidated revenue, and contract terms may change due to permitting and schedule adjustments.
The order strengthens LS Electric's position in renewable energy EPC and is expected to contribute to stable revenue.
[AI Summary]LS Electric secured a 76.4 billion KRW EPC contract for the Yeonggwang solar project, expanding its renewable energy business, but the contract size is only 1.7% of revenue, limiting short-term stock impact. Given the opaque credit profile of counterparty K.E.N and potential project changes, a neutral investment stance is warranted.
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