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Korean utilities firm to move into the US market

Korea East-West Power, a unit of South Korea-based state-run utilities company Korea Electric Power is reported to be acquiring a biomass plant in the US.

The facility is located in San Diego, generating 70.8MW of energy a year from waste and vegetation.

However the terms of the contract have not yet been disclosed. A Korea East-West Power official said: ‘The deal is almost completed. Detailed things will be revealed later.’

If the deal is successfully completed it would make Korea East-West Power the first Korean firm to become involved in the US power industry.