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The location map and an aerial rendering for a gas-fueled power plant in Chihuahua state, Mexico. A KEPCO-led Korean consortium completed the plant’s construction on Wednesday. (KEPCO) |
State-run power giant Korea Electric Power Co. said on Wednesday that it has completed the construction of a gas-fueled power plant in Chihuahua state, Mexico.
It is the first power plant that the Korea consortium has built in Latin America, KEPCO said in a press release.
Other members in the consortium included Samsung Construction & Trading, which was responsible for organizing the project.
Building the 433-megawatt combined cycle power plant is part of the Norte II project that the KEPCO-led consortium won in 2010 from state-run Mexican power company Comision Federal de Electricidad.
The project has an independent power producer contract meaning KEPCO will operate the plant for the 25 years following its commercial launch.
“As KEPCO holds a 56 percent stake in the project, the company expects to make about $210 million in profit from sales of electricity generated by the Norte II plant for the next 25 years,” the press statement added.
In a ceremony to celebrate the commercial launch of the plant, KEPCO CEO Cho Hwan-ik said the company would step up its efforts in the Mexican power market by applying for other upcoming IPP projects.
“KEPCO gained a foothold in the Latin American power market with the successful launch of the Norte II power plant in Mexico,” he added.
By Seo Jee-yeon (
jyseo@heraldcorp.com)
