KEPCO Declares Exit from Overseas Coal Power Plant Market

Korea Electric Power Corp. (KEPCO) officially declared on Oct. 28 that it will not promote new coal-fired power generation projects abroad in the future. KEPCO is also considering turning two overseas coal power plants it has been promoting to LNG-fired ones or stopping its involvement.

The company’s decision to exit from the overseas coal power plant market came following international criticism against its participation in Vietnam’s Vung Ang 2 coal power plant construction project.

Announcing a shift towards low-carbon and eco-friendly power generation projects at overseas markets, KEPCO stressed that all overseas coal-fired power plant projects operated by KEPCO will be terminated after 2050.

"We plan to focus on renewable energy and combined cycle power plants in the era of energy conversion," KEPCO said. “In particular, we have no plans to pursue new overseas coal-fired power generation projects down the road.”

KEPCO is currently working on four overseas coal power generation projects. Among them, the company will continue to carry out Indonesia's Java Units 9 and 10 and Vietnam's Vung Ang 2 projects in consideration of its relationships with the Indonesian and Vietnamese governments and foreign and domestic business partners.

KEPCO is considering changing the Pangasinan coal power plant in the Philippines and the Tabamessi coal power plant in South Africa into LNG power plants.