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Crédit Agricole CIB leads a power plant financing in Mexico
In March 2011, Crédit Agricole CIB acted as joint mandated lead arranger in a project financing for Korea Electric Power Corporation and Samsung C&T Corporation. This project will develop a 433 MW combined-cycle gas-turbine power plant in Chihuahua, Mexico. The other mandated bank was SMBC.
KST, a consortium 56%-owned by Korea Electric Power Corporation, 34% by Samsung C&T Corporation, and 10% by Techint SA de CV, will build and operate the power plant. It will then sell all of the plant capacity and energy generated to the Mexican Federal Electricity Commission (CFE).
The construction of the plant started at the beginning of 2011 and will be completed before May 2013.
Korea Electric Power Corporation is the largest electric utility provider in South Korea, responsible for electricity generation, transmission and distribution.