Over the past 10 years dozens of large and small hydroelectric projects have been initiated. One can find small "micro" hydroelectric generating stations that are meant only to feed a village or factory scattered all over the country and then there are the large-scale projects, like Huichon, that's expected to keep Pyongyang in lights.
There are also medium-scale hydroelectric projects being built. One such dam is located near Kaechon in South Pyongyan province (although it's across the border in North Pyongan). It is located less than 2 miles from Kaechon Airbase and 9 miles east of the Yongbyon Nuclear Reactor site.
Construction likely began around the end of 2013, although the earliest imagery available is April 2014. Based on the image below, the plant will have 3 electric generators.
--Jacob Bogle, 8/15/15