KOWEPO begins international arbitration proceedings against India

The Korea Western Power Company (KOWEPO) has begun international arbitration proceedings against India in Singapore for not honouring a fuel supply commitment to its power plant. KOWEPO owns a 40 per cent stake in Pioneer Gas Power Limited (PGPL) that operates the 388 MW gas-based power project in Raigad, Maharashtra. The project has been stranded owing to lack of domestic gas supply. KOWEPO has sought about $400 million in compensation for loss and damage. KOWEPO is a subsidiary of the Korea Electric Power Corporation, the largest electric utility of South Korea and a listed company owned by the government.

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