April 25, 2024
Deals
KB Asset Management to invest US$200m in US power plant
[THE INVESTOR] KB Asset Management will invest US$200 million in a US gas and steam power generation plant at Marcus Hook Energy Center in Pennsylvania, according to Maeil Business Newspaper on Oct. 6.
KB has created a fund from homegrown institutional investors and will lend it to Starwood Energy Group Global that is taking out loans worth US$520 million to acquire the US$760 million power plant. The 790 megawatt combined cycle power generation plant has 90 percent operation rate.
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The investment period is eight years and the expected rate of return is 4-5 percent a year.
By Hwang You-mee (glamazon@heraldcorp.com)
