Fact Source: Financial Supervisory Service DART
Market: KOSPI (015760)
💡 3-Second Summary
KEPCO has executed Power Purchase Agreements and Project Development Agreements for the Saudi Arabia Ruma 1 and Nairyah 1 gas-fired combined cycle power plant projects, with total contract revenues attributable to KEPCO’s equity share amounting to USD 2.974B.
📊 [Key Disclosure Contents & Major Financial Figures]
- Disclosure Overview
- Subject Title: Execution of Business Contracts for Saudi Arabia Ruma 1 and Nairyah 1 Gas-Fired Combined Cycle Power Plant Projects
- Decision Date & Date of Fact Confirmation: November 28, 2024
- Disclosure Type: Confirmed disclosure following the unconfirmed clarification notice filed on November 21, 2024
- Power Purchase Agreement (PPA) Details
- Contracting Parties: Saudi Power Procurement Company (Client) ↔ Remal Energy Company (Ruma 1 Project Company) / Naseem Energy Company (Nairyah 1 Project Company)
- Contract Period: November 28, 2024 ~ May 31, 2053 (Expected)
- Primary Terms: Sale of electricity generated during the operational period and payment collection
- Supply Region: Ruma and Nairyah regions, Saudi Arabia
- Execution Date: November 28, 2024
- Contract Revenues:
- Ruma 1 Project: USD 4.915B total (KEPCO equity share: USD 1.474B)
- Nairyah 1 Project: USD 5.002B total (KEPCO equity share: USD 1.500B)
- Combined Contract Revenues Attributable to KEPCO Equity Share: USD 2.974B (USD 2,974,000,000)
- Project Development Agreement (PDA) Details
- Contracting Parties: Saudi Power Procurement Company ↔ Project Sponsors (KEPCO, ACWA Power, SEC)
- Contract Period: November 28, 2024 ~ May 31, 2053 (Expected)
- Primary Terms: Obligations of project sponsors for contract execution including entity establishment
- Execution Date: November 28, 2024
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Verification of Subsequent Execution Following Contract Signing
This filing provides confirmed notice of the execution of Power Purchase Agreements and Project Development Agreements for the Saudi gas-fired combined cycle power plant projects following prior media clarifications. Monitoring whether the entity establishment and contractual obligations proceed as stipulated under the executed agreements is important for understanding the ongoing progress of the business. Investors can track further developments through subsequent official filings or periodic reports.
📢 Disclaimer & Source Notice
Source: This content has been re-structured and generated based on official corporate filing data from the Financial Supervisory Service’s DART system.
Investment Risk Warning: This information is provided for informational and linguistic reference purposes only. Under no circumstances does it constitute financial advice or a recommendation to buy or sell specific securities. All investment decisions and financial responsibilities rest entirely with the investor.
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