Korea Hydro & Nuclear Power (KHNP) said on Oct. 5 that the company landed a $530 million (590 billion won) hydro power project in Pakistan.
The project calls for the construction of a 350MW hydro power plant 210 km northeast of the Pakistani capital of Islamabad. The mega-project will generate 1,800MW of electricity, equivalent to 20 percent of South Korea’s annual total hydro power generation.
A consortium consisting of KHNP, Daelim Industrial and Lotte E&C, submitted its bid to build, operate and transfer project in March. The consortium was selected as a successful bidder on Oct. 4, outbidding five rivals.
The consortium, led by KHNP, will build and operate the hydro power plant for 30 years before transferring it to the Pakistani government. The project will be launched two years and six months from now, since it is required to undergo a geological test, and it will take about six years to build it, a KHNP official said.
KHNP President Cho Seok said, “KHNP will contribute to boosting exports of the Korean power generation industry by ramping up collaboration with Korean companies.”
KHNP’s Deal on Fuel Cell with Iksan City
KHNP signed an MOU on a renewable energy project development and investment with the Iksan city government on Oct. 7.
The agreement calls for the construction of a 20MW fuel cell power facility to supply quality electricity and steam to tenant companies of the Korea National Food Cluster (Foodpolis).
Under the deal, KHNP will participate in project development, including a feasibility study, while the Iksan city government will be charged with permissions and licenses, and the securing of business case.
KHNP and Iksan City shared the view that the supply of new and renewable energies is essential to reducing greenhouse gas emissions, and new and renewable project development and investments have to be made to nurture related industries. The supply of good quality steam to the Foodpolis is expected to contribute to attracting companies and reinvigorating the regional economy, KHNP said.
KHNP President Cho said, “The new and renewal energy business for reducing greenhouse gas emissions will be fostered into one of KHNP’s major new growth engine businesses.”
He added that the fuel cell power generation project will contribute to enhancing the image of the clean food industry in the national food cluster.
KHNP is the nation’s biggest power company and is responsible, for supplying about 30 percent of the nation’s power consumption. The company now operates renewable energy facilities including hydro power, photovoltaic power and wind power with a combined capacity of about 720MW, on top of its nuclear power portfolio.
The company plans to expand investments into new and renewable energy projects down the road, it said.
An aerial view of the the Neelum River about 210 km northeast from Islamabad in Pakistan in which a hydroelectric facility will be built by the Korea Hydro & Nuclear Power Corp. (KHNP).
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