Korean companies win US solar deal

Two south Korean companies, POSCO Engineering & Construction and Korea Midland Power Co Ltd (KOMIPO) have won a USD1 billion solar contract in Nevada, USA.

KOMIPO released a statement saying the deal was for a 300MW plant to be completed by December, 2014 with POSCO Engineering leading plant construction, while KOMIPO would be in charge of operations.

Reuters reported that the two companies held 40 percent of the plant along with a 50 year operating contract.