Seocheon power station

From Global Energy Monitor

Seocheon power station (신서천) was a 400-megawatt (MW) coal-fired power station in South Chungcheong Province, South Korea.

It is planned to be replaced with a new 1,000 MW unit.

Location

The undated satellite photo below shows the retired 400 MW power station in Seocheon County.

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Location

The undated satellite photo below shows the new unit under construction, north of the retired Seocheon power station.

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Background on Plant

The original power station consisted of two 200 MW units constructed in 1983.[1] It was planned for retirement in 2018, when it will be replaced by a new coal unit.[2]

In May 2017, President Moon Jae-in said the two units will be shut down by October or November 2017.[3] They were retired on July 1, 2017.[4]

New replacement unit

Owner Korea Midland Power Co. (KOMIPO) plans to replace the power station with a new 1,000 MW ultra-supercritical unit.[5][6]

On May 6, 2017, the new unit was reported as under construction and 19% complete.[7] Planet satellite photos show construction progress from May 2017 to April 2018.

The unit is planned for operation in 2020,[8] later changed to 2021.[9]

Financing for the Replacement Unit

The unit was financed through bonds from the following entities: National Pension Service (US$140,172,016), NongHyup Life Insurance (US$12,188,514), Nonghyup Property and Casualty Insurance (US$3,046,988), NH Investment Securities (US$127,981,711), Korea Post (US$9,142,030), IBK Affiliates (US$18,284,060), and Industrial Bank of Korea (US$3,046,863).[10]

Project Details of proposed power station

  • Sponsor: Korea Midland Power Co. (KOMIPO)
  • Parent company: KEPCO
  • Location: Maryang-ri, Seocheon County, South Chungcheong Province, South Korea
  • Coordinates: 36.144144, 126.495938 (exact)
  • Status: Construction
  • Capacity: 1,000 MW
  • Type: Ultra-supercritical
  • Projected in service: 2021
  • Coal Type:
  • Coal Source:
  • Source of financing: debt from National Pension Service (US$140,172,016), NongHyup Life Insurance (US$12,188,514), Nonghyup Property and Casualty Insurance (US$3,046,988), NH Investment Securities (US$127,981,711), Korea Post (US$9,142,030), IBK Affiliates (US$18,284,060), and Industrial Bank of Korea (US$3,046,863)[10]

Articles and resources

References

  1. "Seocheon Coal Power Plant South Korea," GEO, accessed June 2015
  2. "30년 이상 노후 석탄발전 10기 폐지," motie, 2016-07-06
  3. "Korea to Permanently Shut down 3 Old Coal Power Plants by Year's End," Korea Economic Daily, May 31, 2017
  4. "서천화력, 34년 임무 마치고 역사속으로," KoEnergy, July 6, 2017
  5. "신서천 유연탄 火電, 1GW 1기로 건설 추진," e2news, November 18, 2013
  6. "한전기술, 신서천화력 건설사업 설계기술용역 수주," Korea Power Engineering, Aug 11, 2015
  7. "건설中 원전·석탄발전, 차기 정권에서 운명은?," EBN, May 6, 2017
  8. "신서천火電, 주기기 설치 본격화… 2020년 3월 준공," e2enews, April 18, 2018
  9. "초고효율 친환경 발전소, 신서천화력발전소 건설," KOMIPO, accessed May 2020
  10. 10.0 10.1 "Financing Dirty Energy: How Korean Public Financial Institutions Support Coal Power". Solutions for Our Climate. January 2018.

Related GEM.wiki articles

External resources