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Image for representation purposes only South Korea plans to invest up to $200 billion in energy projects in the United States, including eight large nuclear reactors, a 6,472-megawatt gas-fired power project in Texas and the long-planned Alaska LNG project. The investment is part of South Korea’s $350 billion commitment to invest in the United States. The projects would add new power generation capacity in the country and could also support future LNG exports to Asian markets. But the full $200 billion is not yet a final commitment. South Korean President Lee Jae Myung said some of the projects would depend on commercial conditions. The biggest part of the package is a $120 billion plan for eight large nuclear reactors in the U.S. This includes $100 billion for construction and $20 billion set aside as contingency reserves. The plan covers six Westinghouse AP1000 reactors and two South Korean-designed APR1400 reactors. The nuclear agreement was signed by the U.S. and South Korean governments, Westinghouse Electric, Korea Electric Power Corp. and Korea Hydro & Nuclear Power. South Korean companies are also expected to look at a possible significant minority investment in Westinghouse. The terms of that investment have not yet been agreed and remain subject to commercial negotiations. Lee said investment in the nuclear projects would need to be assessed separately for each plant based on its commercial viability. The package also includes $22.3 billion for a natural gas power facility in Encinal, Texas. The project, known as Project Star, will have a capacity of 6,472 MW. It is being designed to supply electricity to data centres located alongside the facility. The first phase is expected to start commercial operations in 2029. The entire facility is expected to come online in stages by 2032. Related Companies and U.S. power company NextEra Energy will lead the project. Texas-based Lewis Energy Group will provide the site, natural gas, water and other infrastructu
Trump Unveils $200 Billion South Korean Investment In U.S Nuclear Power Plants And Alaska LNG
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