Key facts
- KEPCO won a $1.4 billion deal with Saudi Aramco.
- The deal is for Phase 2 of the Jafurah cogeneration power plant.
- The plant will supply electricity and steam to Aramco for 17 years.
- The facility will be a 331-MW cogeneration plant producing 465 tons of steam per hour.
- The Jafurah gas project is estimated to require $100 billion in total investments.
South Korea's state-run utility, Korea Electric Power Corp. (KEPCO), has secured a $1.4 billion deal with Saudi oil giant Aramco. The agreement is for the construction and operation of Phase 2 of Saudi Arabia's Jafurah cogeneration power plant, which is part of a larger gas project estimated to require $100 billion in total investments. KEPCO's project involves building a 331-MW cogeneration facility capable of producing approximately 465 tons of steam per hour, with a completion target of June 2029. This plant is slated to supply electricity and steam to Aramco for a period of 17 years.