Korea Overseas Infrastructure & Urban Development Corporation (KIND) announced on the 21st that the Trumbull Combined Cycle Gas Power Plant Project in the United States was recognized for excellence in project financing (PF) contracts and was selected as the 'Power Deal of the Year' at the 'IJ Global Awards 2022' held in New York, USA on the 17th (local time).
IJ Global is a global financial magazine that evaluates and awards outstanding PF cases by continent and project type.
The Trumbull Combined Cycle Gas Power Plant Project in the United States is a case where KIND formed Team Korea with Korea Southern Power to enter the power market (PIM) covering 13 states including Pennsylvania, New Jersey, Maryland, and Washington D.C. It was built in Trumbull County, Ohio, with a capacity of 953 MW.
At one point, one of the Korean companies withdrew from joint investment, causing difficulties in forming the investor group, but the project gained momentum when KIND decided to invest equity. This achievement marks the entry of KIND and Korea Southern Power into a large-scale infrastructure project worth over 1.2 billion dollars in the U.S. power market.
Lee Kang-hoon, President of KIND, said, "We will continue to actively support the formation of a competitive Team Korea so that our companies can stand out in various fields on the global stage."
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