South Korea Grants Approval for Eight Coal Power Plants

From Penn Energy

The South Korean government has cleared the way for 8000 MW of additional capacity to be added to the country’s power grid, after granting approval for eight coal power plants.

Samsung C&T Corp. (KRX: 000830) and three other private companies will build the power plants as part of an energy plan that spreads investment among state and private power generators.

The companies, including Tongyang Power Co., SK Engineering & Construction Co. and a Dongbu Group unit, will build the plants by 2027.

In recent times South Korea has suffered blackouts after the government miscalculated demand when planning power plants over the last decade.

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