Lee Hee-yong, head of KEPCO's Nuclear Power Export Division, holds a document of an MOU he signed with Arab Contractors, Egypt's biggest contractor, to promote cooperation in the field of constructing nuclear units. (Photo: KEPCO)

Korea Electric Power Corp. (KEPCO) has teamed up with Korean power companies and nuclear power system providers to explore the Egyptian nuclear market.

KEPCO organized a road show to publicize the Korean nuclear power industry at the InterContinental City Stars Hotel on Oct. 6.

The event attracted some 150 people from industry, academia and nuclear power-related organizations from the two countries. 

Participating from the Korean side were KEPCO, Korea Nuclear Association, Korea Hydro & Nuclear Power Co., KEPCO E&C, Doosan Heavy Industries and Construction. KEPCO International Nuclear Graduate School, contractors and nuclear power system and equipment suppliers, while Egyptian nuclear power-related organizations, universities, contractors and nuclear power system and equipment suppliers participated. Both sides discussed ways of promoting cooperation between Korea and Egypt. 

The event coincided with a forum designed to introduce the Korean nuclear power industry’s capacity, and the strengths of Korea’s own nuclear power units, as well as discuss such topics as personnel cultivation and localization, attracting keen attention from the local participants.

Korean participants held B2B meeting with Egyptian design, construction, and system and equipment makers and had vivid discussions on ways of sharing experiences Korea has accumulated during the construction of nuclear power units and promoting localization in order to build business partnerships. 

In a related development, KEPCO signed an MOU with Arab Contractors, Egypt’s biggest contractor, to promote cooperation in the field of constructing nuclear units, gaining an advantage in competition with its rivals to tap the Egyptian nuclear power market.

In his opening speech, Lee Hee-yong, head of KEPCO’s Nuclear Power Export Division, disclosed the Korean side’s strong determination to win Egyptian orders to build new nuclear power units and to create jobs through human resources development and localization, and provide its utmost support to develop related industries.  

The Egyptian government plans to open up international bidding for the construction of two new nuclear power units in El-Dabba in early next year. 

KEPCO plans to win the Egyptian nuclear power order by meeting Egypt’s major needs, such as manpower cultivation and localization. It will make the most of Korea’s excellent capacity in the nuclear power field. 

KEPCO Pushes for New Energy Industry Development and Paradigm Shift

KEPCO announced plans to initiate the development of new energy industries to reinvigorate the national economy and create jobs a realization of the creative economy.

In its report to a parliamentary interpellation session on Oct. 16, KEPCO unveiled a plan calling for KEPCO and six power companies to invest some 42.5 trillion won and enhance new and renewable energy products to 11.5GW by 2020, which will account for the nation’s total new and renewable energy production. 

KEPCO established a joint body with the Daegu Metropolitan Government in October to implement an 112MW renewable energy production project. The company is working on a joint project with the Jeollanam-do provincial government to build photovoltaic power units on the rooftop of government facilities in the provincial area between 2014 and 2016. This past September, KEPCO also launched projects with the Seoul Metropolitan Government and the Gyeonggi provincial government to install photovoltaic power units on the rooftop of schools in the districts. 

KEPCO disclosed a scheme to take the initiative to spread smart grid and energy storage systems (ESS). The company plans to increase the number of houses with intelligent metering devices from 2.3 million in 2014 to 22 million by 2020, as part of efforts to expand advanced metering infrastructure. 

KEPCO is carrying out a scheme to increase smart grid stations installed at KEPCO buildings from 29 in 2014 to 90 locations by 2015, with the goal of reducing energy consumption by 10 percent.