darby-buys-stake-in-korean-wind-farm

Darby buys stake in Korean wind farm

Franklin Templeton's private equity arm places a value of $77 million on Korea's largest wind farm and negotiates a 32% stake along with board representation.
Darby Overseas Investments, the private equity arm of Franklin Templeton Investments, has acquired a 32.4% equity stake in Gangwon Wind Power for W34 billion $25 million.

Gangwon Wind Power was established in 2001 to construct a wind farm in Gangwon Province in eastern Korea. The wind farm is now the largest in the country û and among the largest in Asia û with more than half of Korea's installed wind power capacity, as of the end of 2007. Total installed wind capacity in Korea has multiplied to 191MW in 2007 from 7.9MW in 2001 and the Korean government has set targets to grow this further.

ôBy virtue of its size, Gangwon Wind Power is...
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