Korea Electric Power Corporation shares rise 1.69% intraday after securing a slice of Saudi solar project.

Korea Electric Power Corporation rose 1.69% intraday, with the company being part of a consortium led by Masdar that has reached financial close on a major solar power development in Saudi Arabia. The Al Sadawi solar photovoltaic project, located in the Eastern Province, will have a generating capacity of 2 GW once completed. The scheme will be developed on a build, own and operate basis under a 25-year power purchase agreement signed last year with the Saudi Power Procurement Company. The overall investment is valued at around $1.1bn.