Korea Electric Power (KEP) has released an update.
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Korea Electric Power Corporation (KEPCO) has entered into significant power purchase and project development agreements for the Rumah 1 and Nairyah 1 gas combined cycle power plant projects in Saudi Arabia. The contracts, involving KEPCO and Saudi Power Procurement Company, are valued at over $9.9 billion in total revenue, with KEPCO’s equity share totaling nearly $3 billion. These agreements are set to run until May 2053, marking a substantial long-term commitment to energy development in the region.
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