Korea South-East Power Co., Ltd. (KOEN) received the “Triple A Asia Infrastructure Awards 2016” from the regional financial magazine “The Asset” on July 5.
The Asset, an international market intelligence outlet, presents awards, targeting and selecting participants in the Asia-Pacific capital and Infrastructure market, and KOEN took the honor to be recognized as the best hydropower project carrier in Asia this year.
The success of Gulpur project came from the collaboration among domestic major enterprises such as Daelim Industrial Co., Ltd, and Lotte Engineering & Construction Co., Ltd, centered on KOEN to make inroads into the Pakistani power market. The project obtained a high score in terms that it secured a competitive financing condition by succeeding in financing 75% of the project expenses needed through financial institutions including the International Finance Corporation, the Asian Development Bank, and the Export-Import Bank of Korea.
The project was credited for making a breakthrough in the issues of future electric power facility exports and carbon emission rights not only by providing a platform for domestic companies to advance into the international power market, but also establishing a model for domestic companies to develop international power markets through the registration of the Clean Development Mechanism (CDM) business with the United Nations Framework Convention on Climate Change (UNFCCC).