SK Gas Co., a key energy affiliate of energy and telecom conglomerate SK Group, said Thursday it has acquired debt-ridden Dongbu Group’s thermal coal power plant to diversify its energy business, amid uncertainties surrounding the construction of a power line that could cause additional expenditures and delays.

SK Gas and Korea Development Bank formed a consortium to buy a 60 percent stake in Dongbu Power Dangjin at 201 billion won ($190 million), shouldering 45 percent and 15 percent of the cost, respectively. Korea Development Bank is Dongbu Group’s main creditor.

In a regulatory filing, the liquefied natural gas provider said that the deal is aimed at “creating a synergy effect” as it acquired a 19 percent stake in Goseong Green Power, a coal-based power plant located on the east coast, in May. (Yonhap)