Korea Electric Power Corporation said on the 30th that it discussed "new business and new technology cooperation plans" at the headquarters of Malaysia's Tenaga Nasional Berhad (TNB) in Kuala Lumpur on the 29th. The meeting was attended by President Kim Dong-cheol and Datuk Megat, TNB chief executive officer (CEO), among others.
The two companies agreed to expand their partnership by making accelerated energy transition and low-carbon new technologies their top priorities. The cooperation includes ▲ development of renewable energy projects ▲ application of digital power new technologies based on artificial intelligence (AI) and data ▲ linkage of the ASEAN power grid ▲ development of hydrogen and ammonia projects.
KEPCO also plans to share its smart power technologies with TNB—such as the Intelligent Digital Power Plant (IDPP), the Substation Equipment Diagnosis and Analysis system (SEDA), and the Advanced Distribution Management System (ADMS)—and to pursue commercialization for carbon neutrality and power grid efficiency. President Kim Dong-cheol and TNB CEO Datuk Megat met.
Kim then attended the completion ceremony for a 1,200-megawatt (MW) gas-fired combined-cycle power plant held in Pulau Indah, Malaysia. This project is the first overseas power project in Malaysia that KEPCO pursued under a build-own-operate (BOO) model with a 25% equity stake.
Malaysia's deputy prime minister, government officials, TNB, local media, and key stakeholders involved in the project attended the ceremony.
The Pulau Indah gas-fired combined-cycle power plant is expected to contribute significantly to stable power supply and economic development in Malaysia's capital region. In particular, through a 21-year power purchase agreement (PPA), revenue of about 11.6 trillion won is expected.
In his commemorative remarks, President Kim Dong-cheol said, "With the successful completion of the Pulau Indah gas-fired combined-cycle power plant, trust between the two countries will be strengthened," and added, "It has also become an opportunity for KEPCO's overseas business capabilities to be recognized once again on the global stage."