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21 April 2008 -- Korea Electric Power Corp. signed an agreement to build and operate a $500 million, 240 MW coal power plant in the Dominican Republic. The plant would cost the equivalent of $2,080/kW.

The plant would replace a plant currently operated on fuel oil. The agreement comes as the country aims to use more coal for power generation due to rising global oil prices. Construction is expected to begin next year and conclude by 2011.

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