Natixis today announced the completion of conditions for the first drawdown for the Kelar Power Project, a 517 MW gas fired combined-cycle power project in Chile’s mineral-rich northern region. Natixis acted as Financial Advisor and Mandated Lead Arranger as part of a group of commercial banks, along with The Export-Import Bank of Korea (“KEXIM”). The Kelar Project is sponsored by Korea Southern Power Corporation (“KOSPO”) and Samsung C&T Corporation (“Samsung C&T”).
As the representative government-owned power company in Korea, KOSPO has been working in the field of power generation with Korea Electric Power Company (KEPCO) for the past half a century with the great reputation for their world level operation technology. As a part of Korean power industry restructure in 2001, KOSPO separated from KEPCO and is now executing its own power business. Recently, KOSPO has achieved Aa3 credit rating by Moody’s, A+ by Fitch and A+ by S&P.
KOSPO owns and operates a portfolio of 10 power plants with an aggregate capacity of 9.5 GW equivalent to approximately 12% of Korea’s total generation capacity. KOSPO is currently expanding its presence outside of Korea and is focusing on the Middle East, the Americas and South Asia. As a result, KOSPO has completed various projects in the O&M and commissioning area; (1) 1,000MW Thermal PP in Vietnam, (2) 373MW Al Qatrana CCPP in Jordan, (3) 388MW Vemagiri CCPP in India, (4) 2,750MW Marafiq CCPP in Saudi Arabia, (5) 2,730MW Ras Laffan CCPP in Qatar, (6) 280MW Samra CCPP in Jordan, (7) 427MW Rotem CCPP in Israel. KOSPO is expected to manage the operations and management of the Project given its expertise operating thermal power plants of this type.
Samsung C&T is a world class service provider in the power industry with a presence in Asia, Middle East, Europe, Africa, and the Americas. It is the founding company of Samsung Group, belonging to the Engineering & Heavy Industry branch of the Group. Samsung C&T encompasses two divisions:
- Trading & Investment Group (T&I) focuses on three major areas: (i) energy and environment, (ii)natural resources and (iii) industrial materials. It performs various roles from developer and investor to import and export specialist.
- Engineering & Construction Group (E&C) has an extensive expertise in performing civil engineering, housing and development construction as well as plant facilities work.
In the energy sector, Samsung C&T has been successfully developing the following projects; (1) 433MW Norte II CCPP project in Mexico, (2) 3,927MW Qurayya IPP project in Saudi Arabia, (3) 1,369MW Ontario Renewable Energy Cluster (Wind & Solar Power) project in Canada, (4) 1,320MW Balkhash Coal-fired Power Plant project in Kazakhstan, and (5) Manzanillo LNG Receiving Terminal Project in Mexico, (6) 1,716MW Dongducheon IPP project. In addition to the development of power projects and construction of power plants, Samsung C&T has proved its performance and competitiveness in various projects, such as 1,510MW Shuweihat S2 IWPP project in United Arab Emirates and Pulau Seraya Unit 30 & 40 CCPP project in Singapore.
Press Relations, Natixis
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Press Relations, Natixis
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Head of Press Relations and Social Media, Natixis
+33 1 58 19 10 40