Saemangeum CHP power station
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Saemangeum CHP power station (새만금발전소) is an operating power station of at least 304-megawatts (MW) in Gunsan, Soryong, North Jeolla, South Korea. It is also known as OCI SE, 새만금발전소, Saemangeum Collective Energy Facility.
Location
Table 1: Project-level location details
| Plant name | Location | Coordinates (WGS 84) |
|---|---|---|
| Saemangeum CHP power station | Gunsan, Soryong, Gunsan, North Jeolla, South Korea | 35.93788, 126.56613 (exact) |
Unit-level coordinates (WGS 84):
- Unit 1, Unit 2: 35.93788, 126.56613
Project Details
Table 2: Unit-level details
| Unit name | Status | Fuel(s) | Capacity (MW) | Technology | CHP | Start year | Emergency/Backup |
|---|---|---|---|---|---|---|---|
| Unit 1 | Operating | coal: unknown, bioenergy: wood & other biomass (solids)[1] | 152 | subcritical | yes | 2016 | False |
| Unit 2 | Operating | coal: unknown, bioenergy: wood & other biomass (solids)[1] | 152 | subcritical | yes | 2016 | False |
Table 3: Unit-level ownership and operator details
| Unit name | Owner | Parent |
|---|---|---|
| Unit 1 | OCI SE Co Ltd [100%] | OCI Holdings Co Ltd [100.0%] |
| Unit 2 | OCI SE Co Ltd [100%] | OCI Holdings Co Ltd [100.0%] |
Project-level captive use details
- Captive industry use (heat or power): power
- Captive industry: Machinery
Project-level coal details
- Coal source(s): imported
Ownership Tree
This ownership tree is part of the Global Energy Ownership Tracker, a project of Global Energy Monitor.
Background
In July 2012, OCI established OCI SE to construct a cogeneration power plant within the Saemangeum Industrial Complex in Gunsan City, North Jeolla.[2][3][4]
In May 2012, in a bid to attract investments at the Complex, the Ministry of Strategy and Finance had revised a law to allow the construction of a cogeneration power plant.[5]
In October 2013, Doosan Heavy Industries & Construction announced that it had signed a contract worth US $470 million to construct the Saemangeum Collective Energy Facility. The project would involve the construction of a coal fired thermal power plant at the Saemangeum Industrial Complex Zone 2. The power plant was projected to have an electricity output of 304MW (152MW x 2 units), with a planned completion date of March 2016.[6]
The plant was completed in April 2016.[7]
The company's website claims the plant uses "best available techniques (BAT) to minimize the generation of Sulfur Oxides, Nitrogen, dust, etc." and that "OCI SE acquires REC through co-combustion of wood pallets." In addition, there were plans to expand the heat supply system capable of district cooling and heating to distant areas.[2] According to company reports from 2023 and 2024, the power station was co-firing with up to 50% wood pellets.[8][9]
Financing
In December 2013, a financing agreement was closed.[10] At least KRW 344 billion (US$310 million) in loans were raised to fund the project. Groups providing debt financing for the project included:
- Korea Development Bank (KDB): KRW 17 billion (US$15.3 million)[10]
- KDB Life Insurance: KRW 79.6 billion (US$71.6 million)[11]
- Nonghyup Life Insurance: KRW 10 billion (US$9 million)[10]
- Nonghyup Bank: KRW 20 billion (US$18 million)[10]
- Industrial Bank of Korea: KRW 55 billion (US$49.5 million)[10]
- Heungkuk Life Insurance: KRW 52 billion (US$46.8 million)[11]
- Kyobo Life Insurance: KRW 66.2 billion (US$59.6 million)[11]
- NH Bank: KRW 9.5 billion (US$8.55 million)[11]
- Shinhan Bank: KRW 35.4 billion (US$31.9 million)[11]
In October 2015, a refinancing agreement was closed for US$311.7 million in loans, but the financiers were not disclosed.[10]
Articles and Resources
References
- ↑ 1.0 1.1 https://www.gem.wiki/Coal_source_methodology_for_the_Global_Coal_Plant_Tracker.
{{cite web}}: Missing or empty|title=(help) - ↑ 2.0 2.1 "Cogeneration Power Plant," OCI, accessed November 2021
- ↑ "OCISE(주)," Google Maps, accessed November 2021
- ↑ "Subsidiaries," OCI, accessed November 2021
- ↑ "OCI breaks ground for North Jeolla power plant," Korean Herald, October 21, 2013
- ↑ "Doosan Heavy Industries & Construction Wins US$ 470 million Project to Construct Saemangeum Collective Energy Facility," Doosan Heavy Industries & Construction, October 1, 2013
- ↑ "Coal-fired Plants in South Korea," Industcards, accessed June 2016
- ↑ Business Review, OCI Holdings, 2023
- ↑ "2024 Integrated Report - Business Overview," OCI Holdings, July 2025
- ↑ 10.0 10.1 10.2 10.3 10.4 10.5 "Financing Dirty Energy," Solutions for Our Climate, January 2018
- ↑ 11.0 11.1 11.2 11.3 11.4 "Tracing 12 Years of Korea’s Coal Finance Addiction," Korea Sustainability Investing Forum, January 2021
Additional data
To access additional data, including an interactive map of coal-fired power stations, a downloadable dataset, and summary data, please visit the Global Coal Plant Tracker on the Global Energy Monitor website.
