KEPCO announced that it signed a memorandum of understanding (MOU) with Cogentrix Solar Holdings in Alamosa County, Colorado, on August 26 (local time) to purchase a 100 percent stake in a 30-megawatt solar power plant from the USA -based group and maintain operations for 26 years.
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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. KEPCO, jointly with domestic institutional investors including the National Pension Service, created a Corporate Partnership Fund to acquire the 100-percent stake in the Alamosa project. “The best way to do this is acquiring renewable energy power plants overseas”. KEPCO President Cho Hwan-eik inked the deal with Carlyle Group Chairman Dan D’Aniello last Friday in NY and signed a separate memorandum of understanding (MOU) for future cooperation. The facility, installed with concentrating photovoltaic modules that are 31 percent more energy efficient than conventional silicon modules, is scheduled to be run by KEPCO starting this October.
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“KEPCO expects to generate a turnover of $230m and improve exports by $13.46m”.
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The acquisition will provide KEPCO access to the US Energy market, expanding its current presence in 22 countries worldwide. “We will keep looking for power generation assets for acquisition including wind power, solar, and other renewable energy plants”.
