Youngnam 476.1MW gas power plant

25/11/2015
Project development, Project finance

W 370 billion

$ 338 million

Announced

25/11/2015


Overview:

  • Youngnam 476.1MW gas power plant
  • The project is a 476.1MW LNG combined cycle power plant on a site owned by Korean Southern Power (KOSPO).
  • It aims to sell its produced electricity in the Korean wholesale electricity market through the Korea Power Exchange.
  • The project financing is structured as senior and subordinated loans, and some lenders also participated in the project by way of equity investment.
  • The project did not rely on the credit enhancement mechanism provided by sponsors, and it did not have EPC or O&M contractors; which meant that the financial investors and lenders were vulnerable to such risks.

Adam Majeed - Regional editor

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