Korean power firm reaffirms Cebu investments

The Department of Energy in the Visayas (DoE-Visayas) bared on Monday that the Korea Electric Power Company (KEPCO) has reaffirmed its commitment to investing in the Philippine energy sector, underscoring its support for renewable energy development, smart grid technology, and nuclear energy cooperation.

DoE-Visayas said in a courtesy meeting with DoE Secretary Raphael P.M. Lotilla, KEPCO president Kim Dong-Cheol reaffirmed the company’s commitment to maintaining its presence in the country, despite earlier announcements in 2023 regarding the sale of its coal assets in the country as part of its transition to clean energy.

KEPCO aims to accelerate its investments in renewable energy, in line with its carbon neutrality goals and the planned phaseout of coal by 2050.

Currently, KEPCO operates the 200 megawatts coal-fired power plant in the City of Naga, Cebu, a joint venture of KEPCO Philippines Holdings Inc. and Cebu-based company, SPC Power.

It also has a 38-percent share in Solar Philippines subsidiary Solar Philippines Calatagan Corp., which runs a 63.3-MW solar farm in Calatagan, Batangas.

KEPCO president Kim shared valuable insights into Korea’s highly stable power grid, highlighting its low transmission and distribution losses, as well as the significant reduction in power outages.

He explained that this reliability is largely attributed to the Intelligent Digital Power management system, which leverages artificial intelligence (AI) to enhance efficiency, optimize grid operations, and swiftly detect and respond to potential issues. By integrating advanced AI-driven technologies, Korea has been able to maintain a resilient and efficient power infrastructure, ensuring consistent and reliable electricity supply to consumers.