Korea eyes $19.8b Texas gas power project as 1st US investment deal

South Korea is nearing a decision to back a $19.8 billion gas-fired power project in Texas as the first investment under its strategic US investment commitment, according to government and industry sources Tuesday.

The project, planned for Encinal, Texas, would have 6.4 gigawatts of generation capacity and is under final discussion between Seoul and Washington.

Korea is expected to invest in the project through an equity stake in a special-purpose vehicle, with major Korean engineering and plant ...