DL Energy Invests in US Fairview Thermal Power Plant, Acquires 25% Stake

Contract Signed for Acquisition of Stake in Fairview 1055MW Natural Gas Combined Cycle Power Plant in the U.S.

Second Power Plant Investment in the World's Largest Electricity Market, the United States

[Asia Economy Reporter Kim Min-young] DL Energy is investing in a natural gas thermal power plant in the United States. This marks DL Energy's second investment in a power plant in the U.S., the world's largest electricity market.

On the 16th, DL Energy announced on the 17th that it had signed a stock purchase agreement to acquire a 25% stake in the Fairview natural gas combined cycle power plant in the U.S. DL Energy plans to complete the acquisition early next year after obtaining approval from the U.S. Federal Energy Regulatory Commission.

The Fairview power plant is located in Pennsylvania. It is a 1055MW-class natural gas combined cycle power plant that began commercial operation in December 2019. The plant has the capacity to produce electricity sufficient for over one million households. It uses GE's latest generation power generation equipment, offering excellent thermal efficiency.

Previously, DL Energy entered the U.S. power market by investing in the Niles natural gas combined cycle power plant (1085MW) located in Michigan in 2019. The Niles power plant is scheduled to commence commercial operation in the first half of next year.

To date, DL Energy has invested in 14 power plants located in Korea, the U.S., Australia, Pakistan, Jordan, and Chile, securing a total generation capacity of 6.9GW. With 1.6GW invested domestically and 5.3GW overseas, DL Energy has established itself as a global independent power producer (IPP) developer.

A DL Energy official stated, "The U.S. private power generation market is the largest in the world and is very promising in terms of profitability and stability," adding, "DL Energy will continue to pursue business development in the U.S. market going forward."

This content was produced with the assistance of AI translation services.