South Korean energy producer West Sea Power Co. Ltd., wholly owned by Macquarie Korea Opportunities Fund, has signed a 17-year contractual service agreement (CSA) with GE Energy. The deal is expected to strengthen the reliability of West Sea Power’s plant operations and improve long-term power output. The CSA, which went into effect in October, will focus on managing and implementing all gas turbine maintenance activities, from minor to major outages. The agreement also will incorporate new technology upgrades that will deliver enhanced energy efficiency and power output.
The service agreement covers two of GE Energy’s gas turbines operating at the 92 MW power plant, located at the Daesan Industrial Complex south of Seoul. Under a
power purchase agreement, the plant supplies electrical power, steam and exhaust gas to Samsung Total Petrochemicals Ltd.