The Emirates Nuclear Energy Corporation (ENEC) and the Korea Electric Power Corporation (KEPCO), the joint venture partner and prime contractor of the Barakah Nuclear Energy Project, being developed in the Al Dhafra region in the Abu Dhabi Emirate, have explored future cooperation in the nuclear sector.
Mr. Mohamed Ibrahim Al Hammadi, Managing Director and CEO of ENEC, met with Mr. Seung-il Cheong, President and CEO of KEPCO, and discussed the progress of the Barakah Nuclear Energy Plant, with the KEPCO reaffirming his team’s commitment to completing the remaining units at Barakah in an efficient and high-quality manner to realize the full value of the plant in terms of electricity generated and the significant carbon emissions the plant saves.
The meeting took place in the Korean capital, Seoul, as a key component of a UAE delegation visit to meet with KEPCO and Team Korea companies, as well as with key government officials. Mr. Al Hammadi’s visit to South Korea comes within the framework of the joint venture agreement between ENEC and KEPCO which was established in 2016, and in line with the special strategic partnership between the UAE and the Republic of Korea.
The JV agreement allowed KEPCO to receive an 18 percent stake in ENEC’s subsidiary Nawah Energy Company (Nawah) and ENEC will remain as the majority owner of the remaining 82 percent of the company.
The overall completion rate of the Barakah Plant is now more than 97 percent, as the first and second Units are commercially operational and producing electricity 24×7, and the third Unit is in the operational readiness phase pending receipt of the Operating License from the Federal Authority for Nuclear Regulation (FANR).
The Barakah Plant is accelerating the decarbonization of the power sector in the UAE and the Arab World, significantly contributing to achieving Net Zero by 2050.
