The fourth unit at the Barakah Power Plant began commercial operation successfully on Sept. 5, said Nawah Energy, the operator of the plant, which was a joint investment by Korea Electric Power Corp. and Emirates Nuclear Energy Corp. (ENEC).
It was in November 2023 that the fourth unit of the Barakah Plant obtained permission to operate from the Federal Authority for Nuclear Regulation.
That December, it was loaded with fuel and was put into commercial operation following an eight-month trial run.
Units 1, 2 and 3 produce electricity stably.
The commercial operation of Unit 4 serves as an opportunity to prove Korea’s construction, UAE project management and operation capacity once again.
The UAE nuclear plant has Korean-designed APR-1400 reactors, each with a capacity of 1,400Mwe. “Team Korea,” consisting of Korean companies, led by KEPCO, the prime contractor, was formed after winning the project.
They have devoted themselves to accomplish the project successfully by integrating the Korean nuclear power industry’s capacity.
With the addition of Unit 4 into commercial operation, the UAE nuclear power, the largest clean energy source in the Arab region, produces 40TWh of electricity annually, meeting 25 percent of the UAE’s electricity demand.
The UAE nuclear power project effectively upgraded relations between Korea and the UAE to the highest “special strategic partnership,” contributing to expanding ties to every sector, such as the economy, social, cultural and national defense segments.
Both countries expect to maintain a new 100-year partnership through the project.
KEPCO President Kim Dong-cheol said, “The UAE nuclear power project, establishing itself as a successful example case in the global nuclear power market, has set a milestone: Unit 4 entering commercial operation, and now is the time to prep up for a new future.”
“We will demonstrate a strong commitment to export additional nuclear power plants abroad thanks to the government’s policies of restoring the nuclear power energy ecosystem and supporting nuclear power plant exports,” he added.
A whole view of the fourth unit at the Barakah Power Plant, which was put into a commercial operation successfully on Sept. 5.
KEPCO Holds IR Session on Disposal of Foreign Assets to Shift into Green Energy Portfolio
Korea Electric Power Corp. held an investment relations session on the disposal of foreign assets to shift to a green energy-oriented asset portfolio and accelerate fiscal soundness plans at KEPCO Art Center on Sept. 26.
Korean energy companies, including power plant O&M companies, independent power companies and city gas companies as well as M&A consultant companies — about 100 people form 50-odd companies — participated in the session.
KEPCO has attempted to sell foreign assets, including the Sebu Coal-fired Power Plant in the Philippines since 2022, but as such bidding had ended up in failure in succession due to the recession of global M&A market, and the latest IR session was held to make the disposal of overseas assets a success.
KEPCO plans to improve its financial structure by securing at least 250 billion won through the disposal of four power plant assets in the Philippines and Jordan while trying to shift a foreign asset portfolio focusing on green energies by utilizing the proceeds as resources to invest new growth projects such as green hydrogen and renewable energies.
The five power companies presented a plan to dispose of their stake in Bayan Resources, an Indonesian coal mine development company.
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