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China Huaneng Group and KEPCO Signed Memorandum of Understanding

On June 2, China Huaneng Group and Korea Electric Power Corporation respectively signed MOU on project cooperation, MOU on soft science strategic cooperation and MOU on technology R&D cooperation.

President Mr. Cao Peixi, Vice President Mr. Kou Wei, and Vice President Mr. Sun Zhiyong of China Huaneng Group, President and CEO Mr. Cho Hwan Eik of Korea Electric Power Corporation, and First Secretary Mr. Kim Hyun Cheol of the South Korean Embassy in China attended the signing ceremony.

According to the three MOUs, China Huaneng Group and KEPCO will mobilize their respective advantages, and actively promote mutual cooperation on a wide range of areas, including overseas project joint development, soft science research on corporate strategy and management, and market analysis, and environmental technology R&D, as well as personnel training.

Before the signing ceremony, both sides held friendly discussions on further strengthening cooperation. Cao Peixi extended a warm welcome to Mr. Cho Hwan Eik and his delegation, and introduced the latest developments of Huaneng. He said, the two companies signed a Cooperation Framework Agreement last October in South Korea, and the signing of these three MOUs is to further deepen cooperation and execute the Cooperation Framework Agreement. Huaneng is willing to further strengthen communication with KEPCO to share successful experience, and to facilitate project cooperation on the principle of mutual benefits and common development. Cho Hwan Eik introduced the latest developments of KEPCO. He said, KEPCO is dedicated to the R&D of smart grid, energy storage, CCUS, coal-bed methane development and other new energy technologies, and is also actively exploring overseas markets. KEPCO will further deepen exchanges and cooperation with Huaneng, and earnestly implement the Agreement and MOUs of the two companies. KEPCO is looking forward to a fruitful cooperation and lasting friendship with Huaneng.

KEPCO is a large state-owned power company in South Korea, with business operations covering power development, power generation, transmission, transformation, distribution and sales of electricity. Its generation fleet includes various fuel types, such as nuclear power, coal, natural gas, hydro and renewables, with total installed capacity of about 87GW. By the end of 2014, KEPCO had 32 overseas projects in 20 countries, involving power transmission and distribution, nuclear power, thermal power, and renewable energy projects etc.

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