The Korea Electric Power Corporation (KEPCO) has signed a memorandum of understanding (MOU) with the Bases Conversion and Development Authority (BCDA) in the Philippines.The MoU is for the construction and operation of an electric supply network and a smart energy city in New Clark City, Philippines. KEPCO will carry out a feasibility study on "power supply through the construction of an underground power supply network and the construction of New Clark Smart Energy City."
KEPCO, which recently signed a new three-year agreement with the Electric Power Research Institute (EPRI) for participation in research and development programmes, is also planning to establish a power distribution company and build and operate an underground power distribution network the area. The intention is to optimise energy management through increasing smart grid infrastructure and supporting IT and communications technology.
"It is the first time for us to enter the overseas power distribution business of a metropolitan city through the utilisation of new smart power supply technology," a KEPCO official said. "We will steadily go ahead with new electric power technology projects in overseas countries such as smart grid energy management systems."
The New Clark City development project will see the development of a new city with a population of one million residents in the Clark area of Luzon Island of the Philippines.
KEPCO investment in Malaysia
It was further announced today that the Korean utility will invest $50 million in a power plant project in Malaysia.
Working with partner company Tadmax Resources, KEPCO will build a 1,300 MW combined-cycle gas-fired power plant in Pulau Indah, located 60 kilometers southwest of Kuala Lumpur. If approved, the two companies will start construction at the end of 2019, with completion anticipated in 2023.
KEPCO expects $3.2 billion in sales across the 21 years of operation of the power plant.
More news, views and insights into the Asian Utility market can be obtained at Asian Utility Week 2018, taking place in June at the Impact Arena in Bangkok, Thailand.