Korea Electric Power Corporation (Kepco) said on Monday its consortium with Japan's Sumitomo Corp. had won a $1.5bn deal to build and operate a power plant in the UAE.
The gas-fuelled plant, with a production capacity of 1,600 megawatts, will be built in Shuweihat, 260 kilometres west of the capital Abu Dhabi, by March 2014, the state power utility said in a statement.
Under the deal with the Abu Dhabi Water and Electricity Authority (Adwea), the consortium will oversee the construction by South Korea's Daewoo Engineering and Construction and Germany's Siemens.
Kepco will operate the plant and sell electricity from the facility for the following 25 years.
"The deal will greatly boost KEPCO's standing in the UAE electricity market that is emerging as a key market in the Middle East region," the Seoul-based firm said in the statement.
Last year, a consortium led by Kepco won a 20.4 billion-dollar project to build four nuclear reactors in the UAE.
Emirates 24|7
