KEPCO shortlisted for Saudi renewable energy projects

The state-run Korea Electric Power Corp. (KEPCO) has been shortlisted for major renewable energy projects in Saudi Arabia estimated at 3 trillion won (US$2.16 billion), the Saudi's energy procurement agency said Monday. The Saudi Power Procurement Company (SPPC) announced KEPCO as one of the shortlisted bidders for three of the four solar projects under the National Renewable Energy Program. "It is true that (the company) is seeking to participate in the project," a KEPCO official said. The official, however, said the company is still taking a wait-and-see approach for the result, noting that conditions for the three projects vary. The projects will be carried out under build-own-operate contracts, and each participant will enter into a 25-year power purchase agreement with Saudi Arabia, according to the SPPC. Source: Yonhap News Agency