KEPCO Signs 765kV Transmission Technology Cooperation Deal With PSEG

Korea Electric Power Corp. said it has partnered with U.S. energy company Public Service Enterprise Group, or PSEG, as it moves to expand into the U.S. extra-high-voltage transmission market.

KEPCO said it signed the agreement on April 28 at its Art Center in Seoul’s Yangjae-dong to cooperate on 765-kilovolt transmission projects.
 
The utility said the deal is significant because it represents formal recognition overseas of KEPCO’s capabilities in engineering, procurement and construction, or EPC, for 765kV-class transmission networks, as well as its ability to operate power systems reliably. KEPCO said its long-distance, large-capacity transmission technology and operating experience have helped demonstrate its competitiveness in the U.S. market.
 
KEPCO said it plans to go beyond technical consulting and take a more active role across project development and execution. It said it aims to enter the U.S. power market in earnest by participating directly through equity investment and the establishment of special-purpose companies, or SPCs.
 
KEPCO also said it will work with South Korean equipment makers under a “Team Korea” framework to pursue entry into the U.S. 765kV transmission market. It said the effort is expected to broaden overseas opportunities for South Korea’s power equipment industry and strengthen competitiveness in the global power infrastructure market.

KEPCO said it plans to use the extra-high-voltage transmission business as a foothold to gradually expand cooperation in new U.S. energy ventures, including an intelligent digital power plant, or IDPP, and an advanced distribution management system, or ADMS.
 
KEPCO President Kim Dong-cheol said the agreement “served as an opportunity for KEPCO’s 765kV EPC and operational capabilities to be validated in the global market.” He added, “As a responsible public enterprise, we will continue to expand our entry into the U.S. power market in various ways, including equity investment, in cooperation with domestic companies.”