EGCO expands overseas via purchase of 49% of S Korean power plant operator
Play
Electricity Generating Group (EGCO), led by president Jakgrich Pibulpairoj, has entered into an agreement with JJ Yu, president and CEO of SK E&S Co Ltd, for the acquisition of a 49-per-cent stake in Paju Energy Service Co Ltd (Paju ES), which owns and operates the 1,823-megawatt Paju ES power plant in South Korea.
Paju ES is owned and was developed by SK E&S, the first private power company to directly import liquefied natural gas into South Korea.
The Paju ES power plant commenced operation in February 2017 and supplies electricity to Korea Electric Power Corp, the sole off-taker of wholesale power generation in South Korea, through the Korea Power Exchange, the market operator of the South Korean cost-based pool power market.
