SK Ecoplant Considers Divestment of Offshore Wind Subsidiary
Following Renewus and Renewone,
SK Ecoplant Considers Sale of SK Ocean Plant
SK Ecoplant is reportedly considering the sale of its offshore wind subsidiary, SK Ocean Plant.
According to industry sources on the 28th, SK Ecoplant recently expressed its intention to sell the offshore wind subsidiary while engaging with potential buyers, including large private equity funds (PEFs).
SK Ecoplant acquired Samkang M&T in 2021 and renamed it SK Ocean Plant. The company's main business is manufacturing substructures for offshore wind turbines and special-purpose vessels. Last year, SK Ocean Plant reported consolidated sales and operating profit of 661.9 billion KRW and 41.4 billion KRW, respectively, representing decreases of 28.5% and 45.1% compared to the previous year. Industry insiders estimate the sale price to be around 500 billion KRW.
Meanwhile, SK Ecoplant had previously been considering selling 75% and 100% stakes in its waste treatment subsidiary Renewus and waste landfill and incineration subsidiary Renewone, respectively. The market value of the two subsidiaries is estimated at 2 trillion KRW.
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SK Ecoplant stated that the sale rumors are "not yet confirmed."
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