KOMIPO and POSCO E&C win $1 billion U.S. plant deal

Thu Nov 3, 2011 2:36am EDT

(Reuters) – A South Korean consortium of Korean Midland Power Co Ltd (KOMIPO) and POSCO Engineering & Construction Co Ltd has won a $1 billion contract to build and operate a solar power plant in the United States, KOMIPO said on Thursday.

The solar power plant with a capacity of 300 megawatts will be located in the city of Boulder, Nevada, and be completed by December, 2014, a statement from the Korean utility said.

The statement added that POSCO Engineering will lead the plant construction, while KOMIPO will lead the operation and maintenance of the plant. The deal includes operating the plant for 50 years through 2064.

Local media said KOMIPO will hold a 30 percent stake in the project, while POSCO Engineering will hold 10 percent, and the remaining investment will come from private investors.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s