Goseong Hai 2080MW coal power plant

Overview:

• Goseong Hai 2080MW coal power plant.
• The project is a proposed 2080MW coal-fired power station in South Gyeongsang Province, South Korea.
• The power station would consist of two 1040MW units, and construction started in 2016 with completion expected in April 2021.
• Goseong Green Power was established by Korea South-East Power, SK E&C, SK Gas, and an investment fund managed by KDB Infra Asset Management.
• The plant will be Korea’s biggest private coal-fired power plant that will constitute 2% of the total power generation capacity in Korea.
• This project is the biggest independent power plant (IPP) project in Korea with an investment cost of W5 trillion ($4.4 billion).
• To finance the power plant construction, Goseong Green Power procured a syndicate loan of W4.3 trillion ($3.8 billion), which is the biggest project financing deal in Korea, from 20 lenders with KB Kookmin Bank and Shinhan Bank as joint lead arrangers.

Adam Majeed - Regional editor