Daewoo Pocheon 947MW LNG power plant

Overview:

• Daewoo Pocheon 947MW LNG power plant.
• The project being constructed in Pocheon, an inland city in the Gyeonggi province of South Korea.
• It is Daewoo Engineering & Construction’s first civil power plant project where the sponsor has implemented the project not merely for the construction work but also as one of the investors.
• Daewoo Energy is the project owner and the borrower that has obtained the power business license, ITB and documents for turbines and BOP, project documents, and financing.
• Daewoo Energy has successfully funded W779 billion ($690 million) on a non-recourse basis from a group of lenders including the Korea Development Bank as agent to the loan facilities.
• The power plant is expected to start generating power by mid-2017.

Adam Majeed - Regional editor