Renewable energy specialist Haedream Energy is joining forces with Korea Water Resources Corporation (K-water) to push ahead with a 30MW onshore solar power generation project in the Baucau City area of Timor-Leste next year.

The project is part of K-water’s international greenhouse gas reduction initiative. A preliminary feasibility study is currently under way for the Baucau City area, comprehensively reviewing development conditions for solar power generation, grid connection potential, business viability, and financing structure. The study is scheduled for completion in December 2026. Based on the results, the two parties plan to consider a full-scale project rollout starting in 2027.

Using the Timor-Leste project as a stepping stone, Haedream Energy plans to expand its renewable energy and solar power business into overseas markets such as the Philippines, Mongolia, and Cambodia, seeking to strengthen its global competitiveness.

The company is in the process of a new listing on the KONEX market in early November this year and is aiming for a mid- to long-term transfer listing to KOSDAQ. Referring to the average PER (price-earnings ratio) of the solar power sector, the company expects improved performance and enhanced corporate value in line with future results from its overseas projects.

Park Sung-eon, CEO of Haedream Energy, stated, “In line with the government’s carbon neutrality policy stance, the company is reinforcing its capabilities in the renewable energy sector,” adding, “Building on participation in government-led overseas solar projects, the company will achieve tangible results and lay the groundwork for a successful initial public offering (IPO).”

Meanwhile, Haedream Energy was selected as an “Innovation Premier 1000” company by relevant ministries and institutions on July 20.

Popular News