[THE INVESTOR] Korea Electric Power Corp. announced on Oct. 11 that South African Department of Energy has selected it as preferred bidder to build and operate a thermal power plant.
The state enterprise has formed a consortium with Japan’s Marubeni for the project that will build a 630 megawatt coal heat power generation plant in Thabametsi site, in Limpopo province, 370 kilometer northwest of Johannesburg.
Both companies own 24.5 percent stake in the US$2.14 billion project and KEPCO is expected to invest US$130 million. When the power plant is completed and starts commercial operations in Aug. 2021, it will sell the entire electricity to South African state-owned electricity company Eskom for 30 years, during which KEPCO expects a revenue of US$35.7 billion.
KEPCO will sign an engineering, procurement and construction agreement with Doosan Heavy Industries and Construction, so that the civil partner will provide major equipment including boilers and turbines.
