May 18 (Renewables Now) - Korea Electric Power Co (KRX:015760), or KEPCO, has secured a 25-year power purchase agreement (PPA) for a solar photovoltaic (PV) park of 60 MW in Guam with 32 MW of storage capacity.
The company said last week it won the project in a tender.
The solar-plus-storage facility is planned to commence operation by December 2021. Its power contract, signed with the Guam Power Authority (GPA), will bring around USD 340 million (EUR 314.4m) in revenue over the 25-year term, KEPCO said.
At the end of April, the company secured USD 200 million for the project from Mizuho Bank and the Korea Development Bank.
(USD 1 = EUR 0.92)