Regulatory Approval Obtains for Change of Control of MunmuBaram

Written By Jieun Myoung

(November 22nd, 2024) The Korean Electricity Regulatory Commission (KOREC) approved the transfer of two of the project’s three Electricity Business Licenses (EBLs) from Shell to Hexicon.

With this approval, Hexicon has fulfilled all the necessary conditions to complete the Sales and Purchase Agreement (SPA) signed in February.

The two approved EBLs provide for a viable progression of MunmuBaram. The third EBL is undetermined at this stage and Hexicon is currently considering various options.

 

Jieun Myoung
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