Goals and Tasks of Overseas Projects
-
- Slogan
- Lead the effort for carbon neutrality! Take a leap forward as a world-class energy platform company!
-
- Strategic Direction
- Energy Transition and Carbon Reduction
- Increasing Profitability and Competitiveness in Bidding
- Establishing a Global Organization, Manpower and System
-
- ① Exit coal projects and enter into the zero-carbon power market
- ② Expand renewable power generation projects
- ③ Enter the grid investment business
- ④ Engage in more new projects and reduce carbon emissions
- ① Diversity business methods and markets
- ② Narrow the focus on target markets
- ③ Enhance the capabillity to win orders
- ④ Increase the profitability of businesses operated
- ① Restructure the organization and secure projects
- ② Foster global solidarity and cooperation
- ③ Boost ESG management for overseas projects
Cessation of Overseas Coal-Fired Power Generation Projects
KEPCO decided to phase out from projects to build coal-fired
power plants in October 2020 in line with the government's net-zero
policy and the global coal-exit movement.
We aim to selectively carry out and strategically exit profit-oriented businesses,
such as coal-fired power generation, and expand businesses that are suitable for the
transition to carbon neutrality, such as LNG CCPP projects, in response to the difficulty
regarding the suspension of developing coal-fired power plants.
In the long run, we will transition to an eco-friendly overseas project portfolio by
focusing on developing renewable power generation projects the have potential for
growth(e.g., solar power and wind power).
As a result, all overseas coal-fired power generation projects of
KEPCO will be ceased after 2050.
Asset Rationalization for Coal-Fired Power Generation Projects
-
- Step 1
- - Make the coal-fired power plants in operation or construction available for sale and complete the sales before the target date.
- - Apply new technology (e.g., ammonia-hydrogn blends, CCUS, etc.) in case of a delay in sales.
- - Cease the development of conventional power plants, such as gas CCPP, after 2030, considering the business period.
Coal exit and cessation of new gas-fired CCPP projects by 2030
-
- Step 2
- - Cease the operation of fossil fuel power plants (coal,LNG,etc.)and pursue zero-carbon green power generation.
Replacement of fossil fuel to 100% green energy by 2050
-
- Now
- 4,370MW coal-fired power
▼ 100%
-
- 2030
- OMW coal-fired power
Capacity of Coal-Fired Power
-
- 2030
- 9.2 Million ton/year
-
- 2035
- 8.1 Million ton/year