KB Kookmin Bank Signs Financial Agreement for Jeju Wind Power Project Worth 630.3 Billion KRW

[Asia Economy Reporter Bu Aeri] KB Kookmin Bank announced on the 28th that it has completed the financial agreement for the Jeju Hallim Offshore Wind Power Project, the largest offshore wind power project in Korea.

The Jeju Hallim Offshore Wind Power Project is a 100MW-class offshore wind power project installing 18 wind turbines of 5.56MW (megawatt) each in the shared waters around Suwon-ri, Hallim-eup, Jeju Island. The total project cost is 630.3 billion KRW. It is scheduled to be completed in October 2024.

As the lead financial institution for this project, Kookmin Bank successfully arranged financing of 543 billion KRW, the largest renewable energy project financing (PF) scale in Korea, by leading the participation of 15 financial institutions.

In addition to the lead financial institution, Korea Electric Power Corporation, Korea Midland Power, Korea Electric Power Technology, Hyundai Engineering & Construction, and Baram Co., Ltd. participated as strategic investors in this project, while KB Asset Management and Energy Infrastructure Asset Management participated as financial investors.

A Kookmin Bank official stated, "We will continue to participate in line with the international community's response to climate change and the government's low-carbon economic policy," adding, "We will continue our role as a leading financial institution in environmental, social, and governance (ESG) by actively supporting domestic and overseas renewable energy financing in the future."

This content was produced with the assistance of AI translation services.