South Korean public and private entities will team up to build a 600 billion won ($450 million) worth large-scale solar power plant in Texas, U.S., which will help Korea secure a track record

of renewable energy development .According to industry and investment bank industry sources on Sunday, Korean companies SK ecoplant Co., Hyundai Engineering and Construction Co., Topsun Co. as well as the Korea

Overseas Infrastructure and Urban Development Corporation (KIND), Plant, Infrastructure, and Smart City (PIS) fund recently signed a membership interest purchase agreement (MIPA)

with High Road Energy Marketing LLC, a developer of a solar power project in Concho County, Texas, for the right to build a 459-megawatt solar power plant in the county.

For the contract, the Korean entities participated as limited partners in a fund created by EIP Asset Management, a local energy infrastructure investment firm. The project is a large-scale solar power plants development project that encompasses investment worth 600 billion won. The plant, with a capacity of 459 megawatts (MW), will be built on an area of 11.73 million square meters in Texas ,which is six times the size of Yeouido in Seoul.

 

Source: Pulse