Korea Electric Power Firm Reiterates Commitment To Invest In PH Energy Sector

The Korea Electric Power Company (KEPCO) has reiterated its commitment to investing in the Philippine energy sector, emphasizing its support for renewable energy development, smart grid technology, and nuclear energy cooperation.

KEPCO emphasized its goal of accelerating investments in renewable energy, aligning with its carbon neutrality targets and the planned phaseout of coal by 2050. I Photo: Department of Energy Philippines Facebook

KEPCO President Kim Dong-Cheol reaffirmed the company’s dedication to maintaining its active presence in the Philippines during a courtesy meeting with Department of Energy (DOE) Secretary Raphael P.M. Lotilla.

This commitment comes despite earlier announcements in 2023 regarding the sale of its coal assets in the country as part of its transition to clean energy.

KEPCO emphasized its goal of accelerating investments in renewable energy, aligning with its carbon neutrality targets and the planned phaseout of coal by 2050.

The Korean firm currently operates a 200-megawatt coal-fired power plant in Naga City, Cebu, through a joint venture between KEPCO Philippines Holdings Inc. and the Cebu-based company SPC Power.

Additionally, KEPCO holds a 38-percent stake in Solar Philippines subsidiary Solar Philippines Calatagan Corp., which operates a 63.3-megawatt solar farm in Calatagan, Batangas.

The meeting between the two officials underscored the shared commitment of the Philippines and Korea to sustainable energy solutions.

Specifically, the discussion focused on three key areas: renewable energy, nuclear energy, and Korea's Smart Grid Platform.

KEPCO President Kim shared valuable insights into Korea’s highly stable power grid, highlighting its low transmission and distribution losses and the significant reduction in power outages.

He explained that this reliability is largely attributed to the Intelligent Digital Power (IDP) management system, which leverages artificial intelligence (AI) to enhance efficiency, optimize grid operations, and swiftly detect and respond to potential issues.

By integrating advanced AI-driven technologies, Korea has maintained a resilient and efficient power infrastructure, ensuring a consistent and reliable electricity supply to consumers.

Secretary Lotilla stated, “We welcome KEPCO’s continued commitment to the Philippine energy sector, particularly in advancing renewable energy, smart grid technology, and nuclear energy cooperation. 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.”

“We recognize KEPCO’s expertise in intelligent digital power management and appreciate its efforts to share best practices that can enhance the efficiency and reliability of our own power grid. We look forward to further collaboration in building a cleaner, more resilient, and technology-driven energy future for the country," he added.