Azerbaijan, Baku / Trend / State-run Korea Electric Power Corporation (KEPCO) said on 24 April it had signed a co-operation deal with Azerbaijan, a contract that could position it to win the project to build a gas power plant in Baku.
The memorandum of understanding signed between the two countries says that KEPCO will assist Azerbaijan to build energy efficient power facilities.
"KEPCO has been keen to become involved in Azerbaijan's projects to build energy-saving facilities, and the MOU has increased the chances of KEPCO winning the Baku gas plant deal," KEPCO's spokesman said in a statement. The envisaged plant, estimated to produce up to 700 to 1,000 megawatts of power, will cost between 500 billion WON and 1 trillion WON ($1.08 billion).
The contract was signed during a South Korea-Azerbaijan business forum held in Seoul.