KIND

KIND Celebrates Successful Commercial Operation of the Trumbull Power Plant in the United States,

Demonstrating Its Global Infrastructure Investment Capability

 -  Completion of a 953MW Combined-Cycle Gas Power Plant

- Direct Equity Investment and Policy Fund-Led Project Financing Showcase KIND’s Strength as a Global Infrastructure Developer

The Korea Overseas Infrastructure & Urban Development Corporation (KIND), led by President Bokhwan Kim, announced the successful inauguration of the Trumbull Combined-Cycle Gas Power Project in Ohio, USA, which was developed in cooperation with Korea Southern Power Co., Ltd. (KOSPO) and a consortium of Korean financial institutions.

The inauguration ceremony was held on June 24 (local time) at the Trumbull Power Plant site in Ohio and was attended by approximately 170 key stakeholders, including representatives from KIND, KOSPO, Siemens, and the Consul General of the Republic of Korea in Chicago.

The project involves the construction and operation of a 953MW combined-cycle gas-fired power plant in Trumbull County, Ohio. With a total project cost of approximately USD 1.2 billion (KRW 1.8 trillion), it represents a major infrastructure investment in the North American power sector.

Since commencing commercial operations in December 2025, the Trumbull Power Plant has been supplying stable electricity through PJM, the largest wholesale electricity market in North America, serving nearby industrial complexes and approximately 900,000 households. The project has already secured a stable revenue base and is expected to generate reliable cash flows over the next 30 years.

The project is particularly significant as it marks the transition of a Korean public-private infrastructure investment initiative into the stage of tangible investment returns. It is also widely regarded as a successful public-private partnership model in which KIND participated from the early planning stage and played a leading role in facilitating the entry of Korean companies into the North American infrastructure market.

As an equity investor, KIND enhanced the project's credibility among stakeholders while actively utilizing policy financing vehicles, including the Global Infrastructure Fund (GIF), to establish a robust and stable financing structure. Thanks to its strong financial framework, the project received the “Power Deal of the Year 2023” award from IJGlobal, a leading international project finance publication, in recognition of its excellence in project financing.

The award is presented annually to outstanding project finance transactions worldwide based on factors such as financial structure, innovation, and market impact. The Trumbull project was highly commended for its sound financing strategy and strong commercial viability.

KIND’s contribution also extended to promoting shared growth with Korean small and medium-sized enterprises (SMEs) and mid-sized companies. By serving as a risk-mitigation partner and supporting the incorporation of Korean-made equipment into the Engineering, Procurement, and Construction (EPC) contract, KIND helped Korean companies overcome entry barriers in the highly competitive U.S. infrastructure market. As a result, Korean firms achieved approximately USD 43 million (KRW 65.5 billion) in equipment exports through the project.

A KIND official stated, “The successful completion of the Trumbull Power Plant in Ohio demonstrates KIND’s capabilities as a global infrastructure developer and financial structuring partner in one of the world’s most advanced electricity markets. Building on this achievement, KIND will continue to work closely with Korean public enterprises and financial institutions to expand opportunities for Korean companies in the global infrastructure market.”