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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] Korea Electric Power Corporation (KEPCO) has been selected as a final candidate for three out of four solar projects under Saudi Arabia's fifth National Renewable Energy Program (NREP), with a total project cost of approximately 3 trillion KRW.
According to reports from the power industry on the 28th, KEPCO is in contention for the following solar projects:
- Al-Sadawi (2,000 MW)
- Al-Masa (1,000 MW)
- Al-Henakia 2 (400 MW)
- Rabic 2 (300 MW)
The total investment for these projects amounts to around 3.033 trillion KRW, and they will be executed under a Build-Own-Operate (BOO) model, where KEPCO will be responsible for both construction and operation.
If KEPCO successfully secures these contracts, it will enter into a 25-year power purchase agreement with the Saudi Power Procurement Company (SPPC). This achievement would mark KEPCO's first venture into solar power generation in the Middle East.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
