The project involves the construction and operation of a long-duration energy storage facility with a capacity of 99.75 megawatts (MW) and 750 megawatt-hours (MWh) at the Gwangyang Golden Energy Storage Site. It was selected in the first round of competitive bidding for the central contract market in 2025 and is set to begin construction in April 2026, with a target completion and commercial operation date in March 2027.
As the lead financial arranger, Nonghyup Bank is overseeing the entire financial structuring process, including syndication formation and coordination, as well as business viability and risk analysis, in collaboration with NH Nonghyup Life and Kyobo Securities. This project is expected to contribute to addressing renewable energy volatility and enhancing the stability of the power grid.
Nonghyup Bank continues to expand its financial support and investments in various infrastructure assets. It has signed agreements worth 1.045 trillion won ($870 million) in the renewable energy sector, maintaining a balance of 470 billion won ($390 million). In April, it participated in the Shinan Uwi offshore wind project, the first of the National Growth Fund, leading efforts to promote productive finance closely tied to local communities.
A Nonghyup Bank official stated, "This project is a prime example of productive finance that combines our financial arranging capabilities with the investment strengths of the Nonghyup Financial Group. We will continue to expand financial support for key national infrastructure sectors such as power and energy, contributing to balanced regional development and leading productive finance."
* This article has been translated by AI.
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