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

Jurisdiction:

South Korea

Deal types:

Project development
Project finance

Practice areas:

Project finance
Project development

Industry sector:

Energy


Firm:

Party: Korea Southern Power (Sponsor)

Party: Shinhan Bank (Lender)

Party: Shinhan Investment (Lender)

Party: Shinhan BNP Paribas ITMC (Lender)

Lawyer: Ho Jin Kim