Kepco in talks with Vietnam, Saudi Arabia, Turkey for potential power plant deals

This photo, provided by the Korea Electric Power Corporation, shows the Barakah nuclear power plant in the United Arab Emirates. [YONHAP]

 
The state-run Korea Electric Power Corporation (Kepco) has been in talks with Vietnam, Saudi Arabia, Turkey and other countries over potential nuclear power plant deals, the company said Thursday.
 
Kepco said a number of countries are interested in Korea’s experience and capabilities proven by successfully constructing the Barakah nuclear power plant in the United Arab Emirates (UAE), vowing to work to win more export deals.
 
 
Korea won a 20 trillion won ($14.5 billion) contract to build the Barakah plant in 2009, which marked the country’s first-ever overseas nuclear power plant project.
 
Kepco completed the project last year, delivering four nuclear reactors to the UAE, which all entered commercial operation.
 
Seoul also secured an estimated 26 trillion won project to build two nuclear power units at the Dukovany nuclear power plant in the Czech Republic last month, though the formal signing of the deal has been delayed due to the Czech court’s injunction order temporarily halting the deal.
 
“The UAE power plant construction project strengthened the overall sustainability of Korea’s nuclear power industry and laid the foundation of the industry’s overseas expansion,” the Korean company said.
 
“It served as a chance for local companies to enhance their engineering, procurement and construction capabilities,” it explained.
 
Kepco said it plans to diversify its business portfolio in the Middle East, a significant market with increasing demand for renewable energy.
 
The company was pushing to submit bids to six different energy projects in the region, including a nuclear power plant construction project and a combined heat and power plant project in Saudi Arabia, this year.
 

Yonhap