The Korea Electric Power Corp. said Wednesday that it had won an international bid to build and operate a solar power generation facility in Guam, a U.S. island territory in Micronesia, in the Western Pacific.
The state-run utility won an international bid from the Guam Power Authority and signed a long-term electricity supply contract that is expected to bring in $340 million for the company over 25 years.
Samsung C&T Corporation is to build solar power generation facilities with a capacity of 60 megawatts and an energy storage systems power plant with a capacity of 32 MWh in Mangilao, Guam.
The solar power generation facilities will use Chinese firm JA Solar’s solar power modules, while the ESS plant will be equipped with batteries manufactured by Samsung SDI. Commercial operation will begin after construction is complete in December 2021.
On April 29, Kepco signed a contract with Mizuho Bank and the Korea Development Bank to borrow $200 million for the project.