KOREA ELECTRIC Power Corp. (KEPCO) remains interested in participating in Philippine renewable energy (RE), smart grid, and nuclear energy projects, the Department of Energy (DoE) said.
In a statement on Thursday, the DoE said KEPCO President Kim Dong-Cheol reaffirmed the company’s commitment to the Philippines in a meeting with Energy Secretary Raphael P.M. Lotilla. KEPCO announced in 2023 plans to sell its coal-fired assets in the Philippines as it transitions to clean energy.
KEPCO aims to accelerate its investments in renewable energy to achieve its carbon neutrality goals and coal phaseout deadline of 2025.
In the Philippines, KEPCO operates the 200-megawatt (MW) coal-fired power plant in Naga City, Cebu, a joint venture of KEPCO Philippines Holdings, Inc. and Cebu’s SPC Power. The company also has a 38% share of Solar Philippines subsidiary Solar Philippines Calatagan Corp., which runs a 63.3-MW solar farm in Calatagan, Batangas.
Mr. Kim noted the stability of South Korea’s power grid, highlighting its low transmission and distribution losses, as well as the significant reduction in power outages, according to the DoE.
He attributed this to the Intelligent Digital Power management system, which leverages artificial intelligence to enhance efficiency, optimize grid operations, and rapidly detect and respond to potential issues.
“As the Philippines pursues a just and inclusive energy transition, partnerships with experienced and forward-looking companies like KEPCO will be instrumental in strengthening our energy security and sustainability,” Mr. Lotilla said.
“We recognize KEPCO’s expertise in intelligent digital power management and appreciate its efforts to share the best practices that can enhance the efficiency and reliability of our own power grid,” he added. — Sheldeen Joy Talavera