Saemangeum Collective Energy Facility
|This article is part of the CoalSwarm coverage of South Korea and coal|
Saemangeum Collective Energy Facility is a 304-megawatt (MW) coal-fired power station in North Jeolla Province, South Korea.
The map below shows the city of Gunsan, the approximate location of the plant.
Background on Plant
On October 1, 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 will involve the construction of a coal fired thermal power plant at the Saemangeum Industrial Complex Zone 2 in Gunsan City, North Jeollado. The power plant is projected to have an electricity output of 304MW (152MW x 2 units), with a planned completion date of March 2016.
The plant was completed in April 2016.
In December 2013, a financing agreement was closed. Korea Development Bank provided a US$15,547,805 loan. NongHyup Life Insurance provided a US$9,145,315 loan. Nonghyup Bank provided a US$18,290,630 loan. Industrial Bank of Korea provided a US$50,298,633 loan. In October 2015, a refinancing agreement was closed for US$311,700,618 in loans, but the financers were not disclosed.
- Sponsor: Saemangeum Development Agency
- Parent company:
- Location: Gunsan City, North Jeolla Province, South Korea
- Coordinates: 35.983333, 126.716667 (approximate)
- Status: Operating
- Gross Capacity: 304 MW (Units 1-2: 152 MW)
- Type: Subcritical
- Projected in service: 2016
- Coal Type:
- Coal Source:
- Source of financing: US$15,547,805 in debt from Korea Development Bank; US$9,145,315 in debt from NongHyup Life Insurance; US$18,290,630 in debt from Nonghyup Bank; US$50,298,633 in debt from Industrial Bank of Korea; US$311,700,618 in refinancing debt
Articles and resources
- "Doosan Heavy Industries & Construction Wins US$ 470 million Project to Construct Saemangeum Collective Energy Facility," Doosan Heavy Industries & Construction, 2013.10.01
- "Coal-fired Plants in South Korea," Industcards, accessed June 2016
- "Financing Dirty Energy: How Korean Public Financial Institutions Support Coal Power". Solutions for Our Climate. January 2018.