May 29, 2017 3:11 AM ET

Electric Utilities

Company Overview of POSCO ENERGY Co., Ltd.

Company Overview

POSCO ENERGY Co., Ltd., an independent power producer, generates and supplies electricity in South Korea. The company operates LNG combined cycle power plant with a capacity of 3,412MW in Incheon; off-gas combined cycle power plant with a capacity of 284MW in Gwangyang; off-gas power plant with a capacity of 290MW in Pohang; photovoltaic power plant with a capacity of 14.5MW in Shinan; and solid refuse fuel power generating facility with a capacity of 24.8MW in Busan. It also operates off-gas power plant with a capacity of 200MW in Indonesia; coal-fired thermal power plant with a capacity of 1,120MW in Vietnam; and coal-fired CHP5 plant with a capacity of 450MW in Mongolia. In addition, the ...

POSCO Center West Wing

16th Floor

440, Teheran-ro

Gangnam-gu

Seoul,  06194

South Korea

Founded in 1969

Phone:

82 2 3457 2114

Key Executives for POSCO ENERGY Co., Ltd.

Chief Executive Officer, President and Internal Director
Age: 58
Chief of Technology Strategy Office and Senior Managing Director
Age: 57
Senior Managing Director
Age: 59
Chief of Management Planning Office and Managing Director
Age: 55
Chief of Fuel Cell Business Office and Senior Managing Director
Age: 60
Compensation as of Fiscal Year 2016.

POSCO ENERGY Co., Ltd. Key Developments

FuelCell Energy and POSCO Energy Announce Strategic Agreement to Globalize the Stationary Fuel Cell Market

FuelCell Energy, Inc. announced a memorandum of understanding with partner POSCO Energy to use an existing FuelCell Energy subsidiary to directly develop the Asian fuel cell business for the purpose of expanding Asian market opportunities. Under this agreement, FuelCell Energy will immediately commence marketing the entire suite of SureSource™ solutions in Korea as well as the broader Asian markets for the supply, recovery and storage of energy. POSCO Energy will continue to service the existing installed base of fuel cell plants in South Korea and will commit to a specified level of module purchases from FuelCell Energy to supplement its own local manufacturing for servicing their existing fleet. Definitive agreements are expected to be finalized by fall 2017 subject to completion of due diligence, regulatory approvals, and customary closing conditions.

POSCO Energy Signs Deal with Botswana Power for 300MW Morupule Thermal Power Plant

A memorandum of understanding was signed between POSCO Energy and Botswana Power Corporation (BPC) for construction and operation of 300MW Morupule B Phase II project in the Gaborone capital city of Botswana. The coal-fired power plant will be built near the Morpule coal mine in the Palapa area, about 280km northeast of Gaborone, and the entire power generated will be sold to BPC. POSCO Energy was chosen for the project in the international procurement auction carried out by the Botswana Ministry of Minerals, Energy and Water Resources held in November 2015. The company has won the contract by forming a 50:50 association with Marubeni Corporation. Both the firms will handle the operation and maintenance of the plant for next 30 years. It is stated that the construction of the thermal power plant will begin in first half of 2017 and will become operational by December 2020.

Posco Energy Reports Earnings Results for the Third Quarter of 2016

POSCO Energy reported earnings results for the third quarter of 2016. For the quarter, the company reported operating loss of KRW 4 billion compared to operating profit of KRW 10 billion a year ago.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
February 22, 2017
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