Korea Midland Power completes solar power facility in Concho Valley, TX

Korea Midland Power Co. (KOMIPO) under state utility Korea Electric Power Corop. has completed a power generation facility as part of a Concho Valley Solar photovoltaic power project in the United States and successfully attracted a fresh investment for the project.

KOMIPO, a public power generation company under KEPCO, said on Wednesday it recently built a 160MW solar power generation facility in Texas by investing about $210 million on a site of 28 million square meters, equivalent to the size of 400 soccer fields. The company said Korean-made equipment worth about 100 billion won, such as solar modules, transformers, and cables, were used in the Concho Valley project.

The solar power plant is expected to generate about 422GWh of electricity annually for the next 40 years.

KOMIPO also signed a joint investment agreement with Shinhan Global Infrastructure Fund, which plans to put money in for about 20 percent stake in KOMIPO’s Concho Valley project.

Concho Valley Solar is the second KOMIPO financing of a U.S. renewables asset after its successful financing of Elara Solar in 2021, also located in Texas. KOMIPO built a 130MW solar power plant in Elara last year.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]