Kepco completes construction of power plant in Guam

Korea Electric Power Corporation (Kepco) completed the construction of a new energy plant in Guam, the state-run electricity company said Thursday.

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 Korean firm generate 3.2 trillion won ($2.12 billion) in revenue over the next 25 years.

Kepco added that 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," Kepco CEO 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."

Yonhap