Woori Bank completes financial arrangement for a 1.1 trillion won U.S. thermal power plant project
Woori Bank arranges $825 million in refinancing for a U.S. power plant Expand overseas investment opportunities in high-quality assets through broader energy financing in North America
Woori Bank arranged the refinancing for a large gasfired combinedcycle power plant in Trumbull County, Ohio, in the United States. The financing amounts to $825 million, or about 1.1 trillion won.
This project is a joint investment by Korea Southern Power, the Korea Overseas Infrastructure & Urban Development Corporation (KIND), and Siemens Energy. After the power plant began commercial operation on the 15th of last month, Woori Bank took on the role of converting the loan arranged during the construction phase into longterm project financing suited to the operating phase.
Woori Bank explained that this transaction served as an opportunity to expand its business foundation in the North American energy market. It also stated that it will continue to identify highquality overseas assets and support the expansion of Korean companies into overseas markets.