State-run Korea Electric Power Corp. said Wednesday it has been selected as a preferred bidder for a Guam power plant by the Guam Power Authority.
If the deal is sealed, Kepco will build and operate a 200-megawatt Guam power plant in Dededo, northern Guam. Hyundai Engineering will also join the project to build the power plant.
The project will be carried out in the form of build-operate-transfer project financing. Kepco will be able to sell power produced in the region over the next 25 years.
The construction will start in May 2020, and commercial operation is expected to begin in October 2022, Kepco said.
In 2017, the company had secured an order for a solar power plant in Mangilao, eastern Guam. With the latest deal, Kepco will be responsible for 55 percent of Guam’s power facilities.
By Shin Ji-hye (firstname.lastname@example.org