KIND

KIND Demonstrates Investment and Development Achievements in the U.S. in Succession

- Groundbreaking Ceremony for Large-Scale Concho Solar Power Plant in the U.S...

 Public-Private Partnership Team Korea Joint Investment

- Expansion of U.S. Business Portfolio Through Full-Scale Investment in America

  Korea Overseas Infrastructure & Urban Development Corporation (President Kim Bok-hwan, hereinafter "KIND") announced on the 27th (local time) that it held a groundbreaking ceremony for a large-scale solar power generation project being promoted in Concho County, San Angelo, Texas, U.S., and has entered the full-scale construction phase. This project, in which KIND participates as an equity investor, is expected to contribute to expanding electricity infrastructure and strengthening the foundation for stable power supply within the United States.

  The Concho solar power generation project is a large-scale electricity infrastructure project with a total project cost of approximately KRW 750 billion, involving the construction and operation of a 350MW solar power plant. It was initiated to respond to increasing electricity demand driven by the expansion of AI, data centers, and manufacturing in Texas, and will be developed on a site approximately four times the size of Yeouido. The generated electricity will be supplied to global companies such as Workday and Toyota Motor through Virtual Power Purchase Agreements (VPPA).

  This project is a "Team Korea" joint investment initiative involving KIND, Korea Midland Power, Hyundai Engineering & Construction, EIP Asset Management, and PIS Fund, among others, and is evaluated as a case that implements a market demand-based electricity infrastructure investment model through public-private partnership.

  KIND supports Korean overseas construction companies' participation in the development, investment, and operation of U.S. power generation projects through an investment structure linked with PIS Fund, while simultaneously promoting equipment exports and private investment, thereby supporting overseas infrastructure expansion based on public-private partnership. Based on this cooperative structure, Korean companies are expected to secure orders worth a total of USD 224 million (approximately KRW 320 billion).

  Furthermore, this project is significant in that it supports the export of solar modules by TOPSUN, a domestic mid-sized company, and expands opportunities for mid-sized companies to participate in overseas energy projects. KIND has been promoting mutual growth effects by supporting the organic linkage between domestic companies' equipment supply and overseas business expansion from the investment structure design stage.

  Texas, where the project site is located, is one of the regions with the most active electricity infrastructure investment in the United States, and is a key market where large-scale power generation projects continue to be promoted based on a private sector-led energy development environment and abundant site conditions.

  KIND is taking this project groundbreaking as an opportunity to strengthen its investment foundation in the energy and infrastructure sectors within the United States and is actively pursuing an investment expansion strategy across U.S. businesses centered on actual demand-based infrastructure industries such as electricity infrastructure, Energy Storage Systems (ESS), and FLNG.