Dasco's first factory in Hwasun [Dasco]
Dasco's first factory in Hwasun [Dasco]

Long-term operations contract with Sindasan Energy covers 21.5 years

Deal runs from Jan. 2028 to June 2049, equivalent to 11.85% of last year's sales

Gangjin-gun solar project to be managed with no advance payment

Dasco has signed a 32.4 billion won ($23.9 million) contract to manage and operate a solar power project over 21 and a half years.

The company disclosed on Monday that it signed the "Sindasan Energy Solar Power Project Management and Operations" contract with Sindasan Energy, valued at 32.38 billion won. The amount equals 11.85 percent of Dasco's consolidated sales of 273.1 billion won last year.

Under the agreement, Dasco will oversee management and operations of a solar power project in the Sinjeon-myeon area of Gangjin-gun, South Jeolla Province. The contract runs from Jan. 1, 2028, to June 30, 2049 — a total of 21 and a half years from the scheduled commercial operations start date.

Payment will be made after each service billing, with no down payment or advance payment required. Because the total contract value represents service fees accruing over the long term, actual sales will be recognized incrementally in line with the project's operating schedule.

Dasco is primarily engaged in manufacturing road safety facilities and building materials. The contract secures a long-term operations role for the company in the solar energy sector.


hong@heraldcorp.com