K-water's hydropower project secures funding
K-water CEO Lee Hak-soo, fifth from left, poses with Solomon Islands Prime Minister Manasseh Sogavare, fourth from left, and other dignitaries during the opening ceremony of Tina Hydropower Limited in Solomon Islands, June 5. / Courtesy of K-waterBy Kang Seung-wooThe Korea Water Resources Corp.'s (K-water) infrastructure development project in the Solomon Islands is set to hit the road in earnest after securing a $200 million (233 billion won) financing agreement from six investors.Tina Hydropower Limited (THL), a company formed by K-water and Hyundai Engineering, will build a 15-megawatt hydropower plant as part of the Tina River Hydropower Project on the Tina River, some 20 kilometers southeast of Solomon Islands' capital, Honiara, at a total cost of $211 million over the next five years. The construction is expected to begin next year. According to the state-run utilities company, Tuesday, the project, aimed at delivering cheaper power to Honiara, won the financial package comprised of loans and grants, Dec. 12, after meeting more than 100 preconditions from the six institutions i
