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Development Advance Solution Named Preferred Bidder for Solar Power Projects; Shares Jump 13%

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Development Advance Solution (KRX:058730) was selected as the preferred bidder for the engineering, procurement, and construction (EPC) and operations and maintenance (O&M) contracts for the Sinan Mitra 1 & 2 and Horus solar power projects.

The contract value has yet to be finalized, as it will depend on the execution of the definitive agreement. It will represent at least 5% of the most recent revenue, which is 273.2 billion won, according to a Wednesday filing with the Korea Exchange.

Shares of Development Advance Solution jumped over 13% in recent trade.

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