A signing ceremony for KEPCO's deal to buy a US solar power plant. [Yonhap News Photo]
The state-run Korea Electric Power Corp. has signed a deal to buy a US solar power plant, making inroads into the US electricity market.
Under the deal with Cogentrix Energy Power Management, part of the Carlyle Group LP, KEPCO will buy a 30 megawatt solar power plant in Alamosa, Colorado. The deal is estimated at 34 million US dollars.
KEPCO said it will be able to generate $230 million in sales over a 26-year period by selling electricity there. The Alamosa plant started its operations in 2012. Last year, KEPCO logged 4.9 trillion won ($4.4 billion) in sales in overseas markets, and aims to rack up 20 trillion won in overseas sales by 2025.
KEPCO is engaged in a variety of overseas businesses, including coal-powered and nuclear-powered plants and resources development in 22 countries.
(Yonhap)
reporter
Park Sae-jin
swatchsjp@ajunews.com
