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Kepco in talks to buy California-based solar power plantBy Shim Woo-hyun
Published : Aug. 31, 2017 - 16:01
Korea’s largest utility provider Korea Electric Power Corp. is in discussions to acquire a California-based solar power plant, the company said Thursday.
Kepco recently held a meeting with the company that owns the power plant in California. It is currently discussing with the Ministry of Trade, Industry and Energy details of stake purchases, according to the company.
The deal is expected to take shape later this year, but other details remained undisclosed.
The capacity of the plant in California is expected to reach some 200 megawatts, seven times bigger than the solar power plant in Colorado that Kepco previously acquired, according to industry sources.
If it goes through, the ongoing deal is likely to create synergy with Kepco’s acquisition of a Colorado-based solar power plant with a capacity of 30 megawatts for 33.6 billion won ($30 million) in June last year.
Kepco aims to expand its overseas businesses to account for 28 percent of its combined sales by 2025, from 8.2 percent in 2015.
By Shim Woo-hyun (firstname.lastname@example.org)
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