Korean Bank Backs Guam’s Largest Solar Project

Wedoany.com Report-Dec.26, The Export-Import Bank of Korea (Eximbank) has agreed to provide $241 million in financing for the Yona solar-plus-storage project in Guam. This large-scale development will feature a 132 MW solar photovoltaic plant combined with a 325 MWh battery energy storage system, located in the Yona area in southern Guam.

The project involves the installation of approximately 200,000 solar panels across a site equivalent to about 360 soccer fields. It was awarded earlier in 2025 to a consortium of Korean companies: Korea Electric Power Corporation (KEPCO), Korea East-West Power, and Samsung C&T. The consortium will handle both construction and long-term operations and maintenance.

A 25-year power purchase agreement has been signed with the Guam Power Authority (GPA), the island's electricity provider and project owner. Under the agreement, GPA will purchase all electricity generated by the facility. The project is expected to produce around 222 GWh annually, which exceeds the average yearly power consumption of 20,000 Guam households.

Eximbank's financing package consists of $150 million in project finance loans and $91 million in equity bridge loans. The bank stated its commitment to supporting environmentally friendly energy initiatives overseas.

The Yona project is scheduled for completion in 2028. Upon completion, it will become Guam's largest solar facility. Currently, Guam's total installed solar capacity stands at 105 MW, a figure that has remained unchanged since 2022 according to data from the International Renewable Energy Agency (IRENA).

This development marks a significant step in expanding renewable energy infrastructure on the island. The integration of battery storage will help stabilize the grid and improve the reliability of solar power supply. The project supports efforts to increase the share of clean energy in Guam's electricity mix while creating opportunities for local economic benefits through construction and operational activities.

The involvement of Korean companies and financing from Eximbank highlights international cooperation in advancing sustainable energy solutions. The initiative aligns with broader goals of reducing reliance on traditional energy sources and promoting efficient, large-scale renewable projects in the region.

Overall, the Yona solar-plus-storage project is poised to make a meaningful contribution to Guam's energy landscape upon reaching full operation in 2028.