Macquarie Korea Infrastructure Fund

Gwangju Second Beltway Section 1
Haeyang Energy Co., Ltd.

Assets

Haeyang Energy Co., Ltd.

Exclusive city gas retail distributor in Gwangju City and eight other regions in Jeollanam-do, Korea

Asset overview

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.


Investment details

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). 

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Business overview  
Asset company Haeyang Energy Co., Ltd.
Establishment 1982
Operation period Going-concern
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)
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Facilities  
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.


Asset location