Korea Electric Power Corp. (KEPCO) plans to invest 2.8 trillion won in developing the top-eight green technologies and secure 8.2 million tons of carbon credits per year.
KEPCO announced the “KEPCO Low-Carbon, Green Growth Strategy” designed to create future growth engines and secure sustainable development on Sept. 27. The strategy, a detailed action plan of the “KEPCO 2020 New Vision,” proclaimed last June 30, calls for maximizing new values by innovating green R&D activities, commercializing green technologies, expanding the global business arena, and building a CO2 reduction system with the goal of becoming a global top-five utility.
The action strategy set the green vision “KEPCO, Green Value Top Runner” and a mid- and long-term goal of posting 14 trillion won in green sales, a 700-fold jump from the current roughly 20 billion won, and dramatically reducing greenhouse gas emissions by 2020.
To this end, KEPCO will invest 2.8 trillion won in developing the top-eight green technologies that will drive green growth and secure 8.2 million tons of carbon credits annually by exploring Clean Development Mechanism (CDM) projects in Korea and abroad. These are contained in the action strategy that will materialize 12 core tasks in four implementation areas ― making green electricity technology growth engines; expanding global green businesses; building a low-carbon energy system; and expanding low-carbon, green growth infrastructure.
Making green electricity technology growth engines
In an effort to concentrate on R&D activities in green technology and commercialization, KEPCO set the top-eight technologies to be developed as growth engines in a value-chain mechanism. They are: integrated gasification combined cycle (IGCC); carbon capture & storage; smart grid; electric car charging infrastructure; export of nuclear power unit technology; electric energy housing; high voltage direct current (HVDC); and super-conduction technology.
KEPCO plans to concentrate on nurturing 25 relevant detailed technologies into global standards and continuously invest in such green infrastructure as new and renewable energy and efficiency improvement technologies.
Expansion of global businesses
KEPCO plans to chalk up 14 trillion won in global green business sales, accounting for 16.5 percent of the 85 trillion won of the company’s total sales in the year 2020. It aims at elevating its standing from a current global top-10 company to a global top-five company.
Under the global green business implementation strategy, KEPCO plans to explore foreign markets in stages, taking into account each business region’s attractiveness and characteristics on the basis of global-level green electricity technology. Its existing overseas business sector, now focusing on thermal power plants, will diversify its business portfolios to such green projects as nuclear power, hydro power, new and renewable energy and the power transmission and distribution business. KEPCO’s uranium exploration plan calls for raising its own development rate from the current 7 percent to 50 percent.
Building a low-carbon energy system
KEPCO plans to maximize CO2 reductions and minimize financial influence and carbon costs thanks to diverse greenhouse gas emission reduction efforts in order to cope with restrictions on CO2 emissions in Korea and abroad.
Towards the direction of building its low-carbon system, KEPCO set its own voluntary carbon reduction target in late 2009 in a response to national mid- and long-term carbon reduction goals.
KEPCO plans to expand the construction of low-carbon nuclear power units with the goal of raising nuclear energy’s electricity capacity rate to 41 percent by 2030 while expanding new and renewable energy installations through renewable portfolio agreements (RPA).
The company plans to aggressively explore CDM projects in Korea and abroad in order to brace for the implementation of mandatory greenhouse gas emission reductions with the goal of securing 8.2 million tons of carbon credits by 2020.
Expanding low-carbon, green growth
KEPCO plans to concentrate on its internal capacity for low-carbon, green growth by establishing common response systems among its power subsidiaries and building statics on greenhouse gas emissions. It strives to settle down and proliferate environment management for sustainable development. The company also plans to continuously participate in carbon-neutral programs to disseminate environmentally-friendly images and campaigns for reducing greenhouse gas emissions. nw

KEPCO announced the “KEPCO Low-Carbon, Green Growth Strategy” designed to create future growth engines and secure sustainable development on Sept. 27.