Home Industry Energy South Korea to invest $900m in firm that will operate UAE’s nuclear power plant KEPCO expects the deal to boost its revenue by nearly $50bn over the next 60 years by Reuters October 20, 2016 State-run utility Korea Electric Power Corp (KEPCO) agreed to invest $900m in a company operating the first nuclear power plant in the United Arab Emirates, South Korea’s energy ministry said on Thursday. KEPCO expects the deal to boost its revenue by nearly $50bn over the next 60 years, according to a statement from the ministry. KEPCO and Emirates Nuclear Energy Corp (ENEC) signed the deal to co-invest in the company managing and operating the UAE’s Barakah nuclear power plant for the next six decades, the ministry statement said. In 2009, a KEPCO-led consortium won a contract to build the four 1,400 megawatt nuclear reactors that are being constructed at the Barakah plant to meet the UAE’s surging demand for electricity. South Korea, the world’s fifth-biggest user of nuclear power, constructs and operates its reactors through KEPCO. 0 Comments