The Financial Supervisory Service has started to examine the possibility of insolvency of private equity funds that invest in solar power generation projects.
According to the financial industry on the 23rd, the Financial Supervisory Service (FSS) began to identify the current status of private equity investment in the solar power business as concerns about the insolvency related to the solar power generation business grew.
According to data received from the Financial Supervisory Service by Yoon Chang-hyeon, the Office of People’s Power, the number of solar private equity funds owned by the top 10 domestic asset managers amounted to 50, and the amount set up was 3.13 trillion won.
In addition, professional private equity managers have launched various funds to invest in domestic and overseas solar power generation businesses.
First, the Financial Supervisory Service (FSS) plans to take a look at the investment size and current status of solar power-related funds and risk management with the management industry.
An official from the Financial Supervisory Service said, “We plan to look into issues such as asset soundness and investor protection of solar-related funds.”
However, it is reported that there are limits to an efficient investigation as there are many specialized private placement managers and many small-scale managers.
Recently, the Office of Government Policy Coordination released the results of an investigation that found that 261.6 billion won was unfairly loaned and paid out of the Electric Power Industry Infrastructure Fund project promoted by the Moon Jae-in government to revitalize solar power generation.
In this regard, the Financial Supervisory Service (FSS) has started to check whether the solar power loan is insolvent against the bank.
After a meeting with related institutions of listed companies on the 21st, Lee Bok-hyeon, the head of the Financial Supervisory Service, told reporters, “In the financial sector, solar-related loans and fund management are more diverse than I thought, so I want to see what type of funds are out and what their structure is.” said
/yunhap news