Korea Electric Power Corp (KEPCO) has announced that it has been selected as a preferred bidder for the construction and operation of the 200 MW Dededo natural gas-fired combined cycle power plant in Guam. This is the first time that a Korean company has won a construction order for a US thermal power plant through international competitive bidding.
KEPCO will build and operate the power plant and sell generated electric power for the next 25 years. A consortium will be formed for the project between Korea East-West Power (40 per cent) and KEPCO (60 per cent). The consortium will break ground for plant construction in May 2020. Commercial operation is scheduled for October 2022.
KEPCO minimised factors for fuel price fluctuation in this project. The client, the Guam Power Authority (GPA), will be in charge of supplying fuel, and electricity charges and financing, construction and operation costs will all be paid US dollars.