April 18, 2024
Industrials
KEPCO breaks ground on wind power farm in Jordan
[THE INVESTOR] Korea Electric Power Corp. said on Feb. 14 that it has begun construction work on its first wind power plant in Jordan.
Under a US$510 million deal, KEPCO will build and operate the 89.1 megawatt Fujeij wind farm located near Amman, Jordan. This marks the first time for the state-controlled company to build the wind power farm in the Middle East and control a 100 percent stake in a foreign wind farm.
“I hope that the construction of the Fujeij wind farm will not only help Jordan’s energy market but also serve as an opportunity for Jordan and South Korea to closely cooperate in the energy sector,” said Cho Hwan-eik, KEPCO CEO, at the groundbreaking ceremony on Feb. 13.
The site of the wind farm is located some 150 kilometers south of Amman and will require $180 million in investments for the construction that is expected to complete by October 2018. KEPCO has stated that it will be able to operate the plant for 20 years and make around $26 million in profits annually by selling the power it generates.
(theinvestor@heraldcorp.com)
Under a US$510 million deal, KEPCO will build and operate the 89.1 megawatt Fujeij wind farm located near Amman, Jordan. This marks the first time for the state-controlled company to build the wind power farm in the Middle East and control a 100 percent stake in a foreign wind farm.
“I hope that the construction of the Fujeij wind farm will not only help Jordan’s energy market but also serve as an opportunity for Jordan and South Korea to closely cooperate in the energy sector,” said Cho Hwan-eik, KEPCO CEO, at the groundbreaking ceremony on Feb. 13.
The site of the wind farm is located some 150 kilometers south of Amman and will require $180 million in investments for the construction that is expected to complete by October 2018. KEPCO has stated that it will be able to operate the plant for 20 years and make around $26 million in profits annually by selling the power it generates.
(theinvestor@heraldcorp.com)
