Po-Sung Biomass Development Project

Overview:

• The Po-Sung biomass development project relates to biomass renewable power energy generation though utilisation of wood pellet and wood chips.
• The project required the acquisition of the business license, securing the lease for the site property through negotiation with Kyung-gi province, attracting foreign investment and raising capital, execution of the EPC contract and fund raising for the project.
• The main source of revenue for the project is derived from sale of electricity produced from electric generating facilities trading on KPX and secondarily from sales of Renewable Energy Certificate (REC) to the Renewable Portfolio Standard (RPS) obligor.
• The project also obtained investment from foreign investors in order to obtain a rent reduction from Kyung-gi province.
• This project is one of the largest biomass projects underway in Korea. 

Adam Majeed - Regional editor