[Source: Hyundai Engineering]

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Hyundai Engineering, a construction arm of Hyundai Motor Group, said Tuesday, will join a $534 million project won by state utility firms Korea Electric Power Corp. and Korea East-West Power Corp. to build a 200-megawatt capacity combined cycle power plant in Dededo, northern Guam.

The Korean consortium was named the preferred bidder by the Guam Power Authority last month and Hyundai Engineering was invited in as the engineering, procurement and construction (EPC) contractor.

The project will be carried out in the form of build-operate-transfer project financing and the plant is expected to take 30 months to complete from May 2020, with commercial operation due in October 2022. The consortium will be able to sell power produced in the region over the next 25 years.


KEPCO (60 percent stake) that performed a solar power generation project in Guam formed the consortium to win the deal last year with Korea East-West Power (40 percent stake), which has experience in operating a diesel power plant. It marked the first time that a Korean company won an order in an international competitive tender for the construction of a U.S. thermal power plant

Guam needs new power generation capacities to replace aging diesel power plants, most of which were built in the 1970s and 1990s. Hyundai Engineering said the construction of the new power plant will help ensure a stable and cost effective power supply to the island.

Hyundai Engineering said the successful bid represents a good example for independent power production created by the consortium’s capacity for power operation and its power plant construction experience.

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