이 기사는 2022년 02월 08일 08:10 thebell 에 표출된 기사입니다.

South Korea’s DL Energy is gearing up to expand its power plant business in the U.S.

DL Energy said in December 2021 that it agreed to buy a 25% stake in CPV Fairview Energy Center, based in Jackson Township, Pennsylvania, from Apollo Infrastructure Funds. The investment will be made through DL Global Energy, which is wholly owned by DL Energy.

DL Global Energy has been newly incorporated into DL Group, according to the Fair Trade Commission (FTC) on Friday. DL Energy established DL Global Energy in December 2021 by injecting capital of 990 million won ($824,000).

With DL Global Energy added to the FTC’s list of large businesses that are subject to stricter antitrust regulations, DL Energy’s planned investment in CPV Fairview is expected to accelerate. Last month, DL Energy’s board of directors approved a plan to invest 165.5 billion won in DL Global Energy. The company plans to make the investment within five days after it receives approval from the U.S. Federal Energy Regulatory Commission.

CPV Fairview is a 1,050MW power generation company dedicated to increasing America’s energy sustainability by providing safe, reliable, cost-effective and environmentally responsible electric power. It has the capacity to supply more than one million homes and businesses with electricity.

This will mark DL Energy’s second investment in power plant project in the country. DL Energy invested in the Niles CCPP in city of Niles, Michigan State, in 2019. The plant has a nominal capacity of 1,085 MW and is expected to be in commercial operation in the first half of this year.

DL Energy has invested in 14 plants in countries including Korea, the U.S, Australia, Pakistan, Jordan, and Chile, with a total capacity of 6.9GW.

The latest investment in CPV Fairview is expected to be led by Michael Hwang, head of Corporate Management Division at DL Energy and chief executive of DL Global Energy.

Before joining DL Energy, Hwang worked over 10 years at Samil PwC, handling project finances including Oman Barka3/Sohar2 IPP project (KEXIM) and Busan-Gimhae Light Rail Transit (Kookmin Bank). (Reporting by Jeong-wan Lee)