On June 30, NH Nonghyup Life announced that it has signed a financial agreement with Gwangyang Golden Energy Storage, the operator of the 96MW BESS project awarded in last year's first ESS central contract market competitive bidding.
The project involves the installation and operation of a 96MW BESS at the Gwangyang Golden Industrial Complex in South Jeolla Province. BESS is considered a key infrastructure for enhancing the stability of the power grid as the share of renewable energy generation increases.
The total agreement amount is approximately 164.9 billion won. Investment funds from NH Nonghyup Financial Group's productive finance investment funds, including the NH-Amundi NH Korea Coexistence Growth Fund, participated as the main investors.
NH Nonghyup Life explained that this financing arrangement provides stable funding for large-scale energy infrastructure projects while contributing to the expansion of productive finance using the long-term funds of insurance companies.
The long-term funds of insurance companies are well-suited for infrastructure assets and their maturity structures, making them ideal for establishing a stable financial foundation for energy transition projects. Industry experts believe this case will encourage greater participation from private financial institutions alongside the expansion of the ESS central contract market.
Lee Wan-jin, Vice President of Asset Management at NH Nonghyup Life, stated, "This project financing is a significant achievement that contributes to the expansion of eco-friendly power infrastructure and the stabilization of the power grid. We will continue to expand support for ESG projects linked to renewable energy and productive finance."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.