KoWEPO begans arbitration proceedings against Indian government

The Korea Western Power Company (Kowepo), Korea’s state power utility, has begun arbitration proceedings against the Indian government for not honouring the fuel supply commitment for its 388 MW gas-based power plant in Maharashtra. The project is operated by Pioneer Gas Power Limited in which Kowepo has a 40 per cent stake. It has sought resolution of issues surrounding its project in six months or a compensation of $400 million for loss and damage. If the issues remain unresolved after six months, Kowepo will commence international arbitration proceedings under the India-Korea Bilateral Investment Treaty and the Comprehensive Economic Partnership Agreement between the two countries.

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