By Lee Hyo-sik
The state-run Korea Electric Power Corp. (KEPCO) has signed a $3 million contract with its United Arab Emirates (UAE) counterpart to build a smart grid system there.
KEPCO expects to win more deals in the UAE and other Arab countries which seek to more effectively manage their power supply systems.
At a signing ceremony in Dubai, Wednesday, KEPCO CEO Cho Hwan-eik met with his UAE counterpart Saeed Mohammad Al Tayer, CEO of the Dubai Electricity & Water Authority (DEWA), and discussed ways to further boost bilateral cooperation.
"The Dubai smart grid project marks our first inroad of this kind into the Middle East," Cho said. "This shows that the world has begun recognizing KEPCO's knowhow and expertise in the smart energy sector. The latest deal will further accelerate our entry into the global smart grid market."
The company said it will install solar panels at DEWA headquarters' parking lots, as well as build energy storage systems and an integrated smart grid station in Dubai.
If the project goes smoothly, KEPCO will likely assume a larger role in DEWA's "smart city" development project aimed at creating a large-scale grid system, which will cover not only Dubai, but also other parts of the country.
Cho said KEPCO will look for more opportunities to build and manage the smart grid system in the Middle East and other parts of the world.
In July, the company exported its smart grid knowhow to Canada and signed a cooperation agreement with the U.S. state of Maryland in the energy sector in October.
"This track record will help us more easily tap into the rapidly expanding global smart grid market, which will grow to $20 billion in 2020," the CEO said. "We will continue to develop and commercialize smart grid, smart city development, advanced metering, energy storage systems and other energy-related businesses."
The state-run Korea Electric Power Corp. (KEPCO) has signed a $3 million contract with its United Arab Emirates (UAE) counterpart to build a smart grid system there.
KEPCO expects to win more deals in the UAE and other Arab countries which seek to more effectively manage their power supply systems.
At a signing ceremony in Dubai, Wednesday, KEPCO CEO Cho Hwan-eik met with his UAE counterpart Saeed Mohammad Al Tayer, CEO of the Dubai Electricity & Water Authority (DEWA), and discussed ways to further boost bilateral cooperation.
"The Dubai smart grid project marks our first inroad of this kind into the Middle East," Cho said. "This shows that the world has begun recognizing KEPCO's knowhow and expertise in the smart energy sector. The latest deal will further accelerate our entry into the global smart grid market."
The company said it will install solar panels at DEWA headquarters' parking lots, as well as build energy storage systems and an integrated smart grid station in Dubai.
If the project goes smoothly, KEPCO will likely assume a larger role in DEWA's "smart city" development project aimed at creating a large-scale grid system, which will cover not only Dubai, but also other parts of the country.
Cho said KEPCO will look for more opportunities to build and manage the smart grid system in the Middle East and other parts of the world.
In July, the company exported its smart grid knowhow to Canada and signed a cooperation agreement with the U.S. state of Maryland in the energy sector in October.
"This track record will help us more easily tap into the rapidly expanding global smart grid market, which will grow to $20 billion in 2020," the CEO said. "We will continue to develop and commercialize smart grid, smart city development, advanced metering, energy storage systems and other energy-related businesses."
