Sep 23 2010
The KEPCO (Korea Electric Power Corporation) is all set towards taking over a U.S. biomass plant. The KEPCO is a state-run organization in South Korea.
The KEPCO will be signing a deal for buying this 70.8-MW biomass facility located in San Diego, CA that makes use of vegetation and wastes as fuel.
The contract terms and the acquisition amount spent have not been revealed so far, but there are enough indications to suggest that the deal was almost complete, awaiting details.
Successful completion of the deal would mean that this will be the first time for a South Korean company to venture into the power industry in the US.