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KEPCO completes deal to buy U.S. solar power plant

All News 09:58 April 19, 2017

SEOUL, April 19 (Yonhap) -- The state-run Korea Electric Power Corp. (KEPCO) said Wednesday it has completed a deal to buy a U.S. solar power plant, making inroads into the U.S. electricity market.

Under the deal with Cogentrix Solar Holdings, part of the Carlyle Group LP, KEPCO bought a 30 megawatt solar power plant in Alamosa, Colorado.

The deal, KEPCO's first entry into the U.S. energy market, is estimated to be worth US$34 million.

KEPCO said it will be able to generate $230 million in sales over a 25-year period by selling electricity there. The Alamosa plant started its operations in 2012.

KEPCO is engaged in a variety of overseas businesses, including coal-powered and nuclear-powered plants and resources development in 22 countries.

sam@yna.co.kr
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