KEPCO Completes 198-MW Gas Power Plant in Guam, Sees $2.12 Billion in Revenue

SEOUL, May 28 (Yonhap) -- South Korea's state-run electricity company said Thursday it has completed the construction of a new energy plant in the U.S. territory of Guam. Korea Electric Power Corp. (KEPCO) hosted the commissioning ceremony for the Ukudu Power Plant, with major participants including Guam Gov. Lourdes Leon Guerrero, according to the company. The 198-megawatt gas combined-cycle power plant in Ukudu is capable of supplying up to 75 percent of the island's energy demand. KEPCO said its power purchase agreement with the Guam Power Authority is expected to help the South Korean firm generate 3.2 trillion won (US$2.12 billion) in revenue over the next 25 years. KEPCO added it plans to continue efforts to expand its overseas business based on the successful Guam project. "We are pleased to offer a stable energy supply to Guam and contribute to its economy through the successful construction of the Ukudu power plant," Kim Dong-cheol said. "Based on our world-class technological competitiveness, KEPCO will continue to create new business models in sectors such as power grid stabilization and energy efficiency," he added.