Macquarie Korea Infrastructure Fund
Established in 1982, Haeyang Energy Co., Ltd. (“HY”) is the exclusive city gas retail distributor in Gwangju City and eight other regions in Jeollanam-do, Korea. In 2022, HY distributed 815 million m3 of gas to 836,992 users across the nine regions through its 2,473km of pipelines. At the end of 2022, HY achieved the penetration rate of ~101% in Gwangju City and ~37% in the eight regions in Jeollanam-do.
MKIF, through Youngsan Clean Energy Ltd. (“YCE”) as its investment vehicle, has invested in HY. As of the record date, MKIF is a 100% shareholder of HY through YCE, and MKIF’s total investment amount is KRW 322.5 billion (equity KRW 32.3 billion and shareholder loan KRW 290.2 billion).
|Asset company||Haeyang Energy Co., Ltd.|
|Business||Distribution & sale of city gas and associated products|
|Distribution area||Gwangju City and 8 other regions in Jeollanam-do (Naju-si, Hwasun-gun, Jangseong-gun, Damyang-gun, Yeonggwang-gun, Haenam-gun, Hampyeong-gun and Jangheung-gun)|
|Pipeline length*||Total 2,473km|
|No. of users*||836,992|
|Amount of gas distributed*||815 million m3|
*Pipeline length as at the end of 2022, and no. of users and amount of gas distributed are during 2022.