POSCO unit to build solar power plant in U.S.

SEOUL, Dec 14 (BestGrowthStock) – The energy unit of South Korea’s
POSCO (005490.KS: ) said on Tuesday that it plans to build the
world’s biggest solar power plant with capacity of 300 megawatts
in the United States by 2014.

The unlisted affiliate POSCO Power will form a joint venture
with Sustainable Energy Capital Partners (SECP), a U.S.,
California-based developer of renewable energy projects, to
construct the plant in Boulder City, Nevada, with a goal to
supply solar power to 60,000 households in Nevada, POSCO Power
said in a statement.

“The project has paved the way for us to advance into the
rapidly-growing U.S. renewable energy market,” POSCO Power
President Cho Soung-sik said in the statement.

He said the company plans to build and run various power
plants with a combined capacity of 1 gigawatt at home and abroad
by 2020.
(Reporting by Hyunjoo Jin; Editing by Jacqueline Wong)

POSCO unit to build solar power plant in U.S.