K-water to build hydroelectric power plant in Solomon Islands

Hyundai Engineering CEO Kim Chang-hag, fourth from right, Chief International Officer of K-water Kim Duk-joong, fifth from right, and Minister of Finance and Treasury of the Solomon Islands Harry Kuma, sixth from right, pose for a picture after signing a contract for a hydroelectric power plant construction project on the Tina River, at the Heritage Park Hotel in Honiara, the Solomon Islands, Monday. /Courtesy of K-water

By Kim Jae-heun

The Korea Water Resources Corp. (K-water) and Hyundai Engineering signed a contract to construct a hydroelectric power facility on the Tina River in the Solomon Islands, the state-run utilities company said Tuesday.

Officials from Hyundai Engineering and Tina Hydropower Limited (THL), the company established by K-water for the hydroelectric project, held the signing ceremony in Honiara, the capital of the Solomon Islands, the previous day.

The project is to construct a 71.5-meter-tall dam and 15-megawatt hydroelectric power plant on the river some 20 kilometers southeast of Honiara, at a total cost of 250 billion won ($211 million).

Under the contract, Hyundai Engineering will be in charge of building the power generation facilities, expected to take four-and-a-half years to complete. Once this is done, K-water will manage and operate them through THL for the next 30 years.

The Solomon Islands currently rely on diesel to generate electricity. However, the country imports all its fuel, which is excessively expensive. At the same time, the state lacks a power infrastructure, allowing only 10 percent of the 610,000 citizens to use electricity as of 2017.

K-water expects the hydroelectric project will help lower electricity fees by almost 50 percent and provide electricity to more people ― eventually contributing to the country's economic growth. It also predicts the project will be a chance for the companies involved to export dam construction and hydroelectric development technology to developing nations.

Materials and equipment worth 120 billion won will be sent from Korea for the project, and personnel from Korea will also take part in it.

K-water CEO Lee Hak-soo said in a press release, “As an agency specializing in water management, we will successfully carry out the hydroelectric project to contribute to the economic development of the Solomon Islands and the cooperation and friendship between the two countries.”