Report: Korean company to invest $150 million in Pennsylvania power plant project

Citing a report by a news site in South Korea, the Youngstown Business Journal says KB Asset Management plans to invest $150 million in a natural gas-fueled, combined cycle power plant planned for Lawrence County in western Pennsylvania. The South Korean company would pool funds from institutional investors for the plant in “a signal that the once-dormant project is now moving forward,” according to the Business Journal. The newspaper says plans to construct the gas-fired plant were unveiled five years ago by LS Power, with Tyr Energy, an affiliate of Tokyo-based Itochu Corp., acquiring the project in June 2016. For more, read the full story.