Korea, US unveil 3 investments in energy projects
Seoul and Washington unveiled plans for three investment projects in the United States — a $22.3 billion Texas gas-fired power plant for data centers, a framework to build eight large nuclear reactors and a review of an Alaska liquefied natural gas (LNG) project. The projects are part of a $200 billion investment commitment under a Korea-U.S. agreement signed in November 2025, with the two…
Seoul and Washington have announced three new investment projects in the United States, as part of a $200 billion commitment under a Korea-U.S. agreement signed in November 2025. These initiatives aim to expand cooperation in energy and other strategic industries, opening up new opportunities for Korean suppliers in the U.S. market.
The first project, dubbed Project Star, involves a $22.3 billion gas-fired power plant in Texas. This 6,472-megawatt combined-cycle gas power plant, set to be built in Encinal, will primarily cater to artificial intelligence (AI) data centers. The plant's initial phase, consisting of a 1,952-megawatt gas turbine, is projected to commence commercial operations in 2029, with full-capacity operations expected by 2032.
This project will utilize a tolling-style power purchase agreement (PPA), where data center operators pay a fixed charge for contracted capacity while bearing variable costs such as fuel.
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Also reported by 3 other outlets
- Korea, US unveil 3 investments in energy projects koreatimes.co.kr
- South Korea to invest $200 billion in US energy lemonde.fr
- Trump set to announce $200bn in energy investments from South Korea aljazeera.com
