해외 민자발전 프로젝트(independent power project) 운영관리계약의 구조와 주요 쟁점

For the past two decades, we have seen the rapid progress of the movement to reform and to privatize the electrical power sector in both developed and developing countries. The independent power projects (“IPP”) have been one of the forces driving the movement with Korean companies becoming major players in the IPP market. While there has been considerable interest in the IPPs, we find only limited resources that are providing guidance to the Korean companies that are participating in the IPP market. The purpose of this paper is to provide legal practitioners and other professionals in the IPP sector with an overview of key issues arising out of or in connection with Operation & Maintenance (“O&M”) agreements. This paper examines various legal structures for O&M agreements and the roles of the project company and the operator or O&M contractor. The author emphasizes how critical it is to find and select an experienced and qualified operator to achieve the long-term sustainable success of the IPPs. This paper also explores potential operational risks to consider and suggests various ways to properly allocate the risks while drafting and negotiating an O&M agreement. In addition the author presents key issues and important factors to take into account to overcome the operational risks that may be encountered during the commissioning and operational period of the IPPs. In conclusion, this paper hopes to contribute to a more complete understanding of IPPs’ risks and suggests new lines of study that may provide a deeper insight for the success of IPPs.