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BOC & KEPCO to Explore Future Nuclear Energy Projects

Power News - Published on Fri, 13 Sep 2019

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Barakah One Company has signed a memorandum of understanding with Korea Electric Power Corporation to explore potential collaboration on new nuclear energy projects. According to a statement, the MoU expands on a previously signed Charter for Joint Business Cooperation between Barakah One Company, the company in charge of managing the commercial and financial aspects of the Barakah project and KEPCO. The Charter for Joint Business Cooperation is said to enhance cooperation throughout the nuclear business cycle, from planning and construction to operation. The MoU provides a general framework that will explore potential opportunities for collaboration between the two entities to develop the ‘Barakah Model’, which aims to find opportunities in new nuclear energy markets.

This may include ideas including investment and financing, licensing and safeguards, operations and maintenance as well as training and exchange of scientific and technical expertise in the field of nuclear energy. It could also include nuclear fuel cycle management, localisation and development of nuclear energy infrastructure.

The deal was signed by Mr Nasser Al Nasseri, CEO of Barakah One Company and Mr Jong Kap Kim, CEO and President of KEPCO in the presence of Korean Vice Minister of Trade Industry and Energy, Cheong Seung-Il and UAE Minister of Energy and Industry Suhail Al Mazrouei, at the 24th edition of the World Energy Congress in Abu Dhabi.

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Posted By : Rabi Wangkhem on Fri, 13 Sep 2019
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