Key facts
- KEPCO won a $1.4 billion deal with Saudi Aramco.
Korea Electric Power Corp. (KEPCO) secured a $1.4 billion deal with Saudi Aramco to build and operate Phase 2 of the Jafurah cogeneration power plant. The facility will supply electricity and steam to Aramco for 17 years.
This deal signifies KEPCO's growing role in international energy infrastructure development and highlights Saudi Arabia's ongoing investment in its energy sector, particularly in expanding its gas production capabilities.
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.
Pick the topics you care about. Get only what matters, on your cadence.