Strategic Partnership

Korea Western Power Company (KOWEPO) has taken up 40% Equity stake in Pioneer Gas Power Ltd. KOWEPO (www.iwest.co.kr) is engaged in the business of producing electricity and operates Thermal and Combined Cycle Power Plants. It serves the domestic consumers in South Korea as well as international markets such as Saudi Arabia, Laos, Philippines, Nigeria, Russia and now India. KOWEPO owns and operate around 9000 MW of capacity including Gas based combined cycle power projects and Coal based thermal projects.

KOWEPO is 100% subsidiary of Korea Electric Power Corporation (KEPCO) that owns and operates about 80,000 MW of power plants in South Korea through its 6 subsidiaries. KEPCO is the largest electric utility in South Korea, responsible for the transmission and distribution of electricity. KEPCO group is responsible for 93% of Korea's electricity generation. The Korean government owns a 51% share of KEPCO. On the 2011 Fortune Global 500 ranking of the world's largest companies, KEPCO was ranked 271.

The Turnover for KOWEPO is USD 4.2 Billion and KEPCO group is more than 39 Billion USD.

The Entry of Korean Giant is surely very encouraging investment for Power sector in India and Pioneer feel honored in its being joined as their first preferred partner of choice in India.