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

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Staff Writer | August 29, 2016
The state-run Korea Electric Power Corp. said it has signed a deal to buy a U.S. solar power plant, making inroads into the U.S. electricity market.
Korea Electric Power
Energy   The Alamosa plant started its operations in 2012
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.

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.