KEPCO "No More Overseas Coal-Fired Power Projects Going Forward"

[Asia Economy Reporter Kim Bo-kyung] Korea Electric Power Corporation (KEPCO) announced that it will no longer pursue new overseas coal-fired power plant projects.

On the 28th, KEPCO declared in a press release that "in future overseas projects, we plan to focus on developing low-carbon and eco-friendly overseas projects such as renewable energy and gas combined cycle." Through these eco-friendly efforts, it is expected that all overseas coal-fired power plant projects operated by KEPCO will be terminated after 2050.

This policy will be reflected in the 2020 Sustainability Management Report to clearly inform stakeholders, including shareholders, about the direction of eco-friendly power generation. To strengthen ESG (Environmental, Social, and Governance) management and ensure continuous implementation, KEPCO plans to establish an 'ESG Promotion Committee' under the board of directors.

However, among the four ongoing overseas coal-fired power plant projects, KEPCO decided to continue the Indonesia Java 9 and 10 and Vietnam Vung Ang 2 projects, considering the relationships with the host governments, business partners, and joint ventures with domestic companies. The remaining two projects are being reconsidered for conversion to LNG power generation or suspension.

KEPCO stated, "We are also striving to operate currently running overseas coal-fired power plants in an eco-friendly manner by applying environmental standards that are even stricter than international environmental criteria."

Earlier, KEPCO President Kim Jong-gap (photo) expressed at the National Assembly audit on the 15th that KEPCO and its power generation subsidiaries have no intention to lead the development of new overseas coal-fired power plant projects.

This content was produced with the assistance of AI translation services.