{"id":4690,"date":"2017-05-30T09:00:45","date_gmt":"2017-05-30T00:00:45","guid":{"rendered":"https:\/\/news.samsungcnt.com\/en\/?p=4690"},"modified":"2023-02-16T17:40:15","modified_gmt":"2023-02-16T08:40:15","slug":"the-kelar-power-plant-marks-a-milestone-for-samsung-cts-chilean-business","status":"publish","type":"post","link":"https:\/\/news.samsungcnt.com\/en\/features\/trading-investment\/2017-05-the-kelar-power-plant-marks-a-milestone-for-samsung-cts-chilean-business\/","title":{"rendered":"The Kelar Power Plant Marks a Milestone for Samsung C&T’s Chilean Business"},"content":{"rendered":"\t\t
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On May 26th, Samsung C&T\u2019s Trading and Investment Group CEO, Shin Kim, and\u00a0KOSPO<\/a>\u00a0(Korean Southern Power Co., Ltd) CEO, Jong-Geun Yoon attended an opening ceremony to celebrate the successful completion of the 517 MW Kelar gas-fired combined-cycle power plant in Chile. The CEOs were honored by the attendance of some 200 distinguished guests, including the president of Chile \u2013 Michelle Bachelet, the Minister of Energy \u2013 Andres Rebolledo Smitmans, the Minister of Mining \u2013 Aurora Williams, the Governor of the Antofagasta Region \u2013 Arturo Molina, and the Korean ambassador to Chile \u2013 In-Gyun Jung.<\/p>

A consortium was established between Samsung C&T and KOSPO with a respective 35%-65% investment split while Samsung Engineering was awarded the EPC (Engineering Procurement and Construction) agreement. The consortium signed a contract for the project with the Chilean arm of BHP Billiton in November 2013 along with a 25 year power purchase agreement.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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The $600 million USD plant broke ground in August 2014 and was connected to the Chilean power grid in June 2016. Official commercial operations of the plant began December 27th<\/sup>, 2016.<\/p>

Kelar power plant was constructed in the Mejillones region located in the port city of Antofagasta, Northern Chile. Electricity generated by the plant will supply power to BHP Billiton\u2019s copper mines in the region, including the giant Escondida project, the world\u2019s largest by production. Additionally, the plant is expected to replace coal-based power generation in Chile, offsetting up to 1.5 million tons of\u00a0CO2 emissions per year<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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The official opening ceremony for the Kelar project marks an important milestone for the Trading group\u2019s operations in Latin America, and builds upon the successful completion of the\u00a0Manzanillo LNG Terminal<\/a>\u00a0and\u00a0Norte II<\/a>\u00a0gas-fired combined-cycle power plant in Mexico.<\/p>

The construction of the Kelar power plant is quite notable as it marks the first private power plant constructed and operated by Korean companies in Chile, a market previously dominated by Japanese and US-based construction firms. Samsung C&T has created a strong foothold in Latin America and represents a stepping stone for other Korean companies in the power generation and plant businesses.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Samsung C&T\u2019s Trading and Investment Group CEO - Shin Kim (3rd from the left), KOSPO CEO - Jong-Geun Yoon (4th from the left), and the president of Chile - Michelle Bachelet (6th from the left) attended an opening ceremony to celebrate the completion the Kelar gas-fired combined-cycle power plant in Chile.<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Moreover, the project is an exemplary collaboration of public and private business, showcasing the potential for future collaborations of the sort for C&T and other Korean companies abroad.<\/p>

The Trading group continues to expand its project organizing business in various corners of the globe, demonstrating its strengths as a general trading company with experience and capabilities in financial planning and marketing.<\/p>

Additionally, the Trading group trades in metals, minerals and other industrial materials, such as chemicals, and electronic materials. Samsung C&T is determined to continue growing its presence overseas in the energy infrastructure business alongside its core trading business.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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On May 26th, Samsung C&T\u2019s Trading and Investment Group CEO, Shin Kim, and\u00a0KOSPO\u00a0(Korean Southern Power Co., Ltd) CEO, Jong-Geun Yoon attended an opening ceremony to celebrate the successful completion of the 517 MW Kelar gas-fired combined-cycle power plant in Chile. The CEOs were honored by the attendance of some 200 distinguished guests, including the president […]<\/p>\n","protected":false},"author":1,"featured_media":4734,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15],"tags":[2781,2782,1754,2783,2784,1051,2785,2786,2787,1557,2788,722,90,354,1814,342,163,2287,2288,1683],"class_list":["post-4690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trading-investment","tag-bhp-billiton","tag-chile","tag-energy","tag-epc","tag-gas-fired-combined-cycle-power-plant","tag-innovation","tag-kelar","tag-kelar-power-plant","tag-kospo","tag-power-plant","tag-project","tag-samsung","tag-samsung-ct","tag-samsung-ct-ti-group","tag-samsung-ct-trading-and-investment-group","tag-samsung-ct-trading-group","tag-samsung-trading","tag-ti","tag-ti-group","tag-trading-group"],"acf":[],"yoast_head":"\nThe Kelar Power Plant Marks a Milestone for Samsung C&T's Chilean Business - Samsung C&T Newsroom<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.samsungcnt.com\/en\/features\/trading-investment\/2017-05-the-kelar-power-plant-marks-a-milestone-for-samsung-cts-chilean-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Kelar Power Plant Marks a Milestone for Samsung C&T's Chilean Business - Samsung C&T Newsroom\" \/>\n<meta property=\"og:description\" content=\"On May 26th, Samsung C&T\u2019s Trading and Investment Group CEO, Shin Kim, and\u00a0KOSPO\u00a0(Korean Southern Power Co., Ltd) CEO, Jong-Geun Yoon attended an opening ceremony to celebrate the successful completion of the 517 MW Kelar gas-fired combined-cycle power plant in Chile. 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