KEPCO poised to ink subsea power grid deal with UAE’s ADNOC

KEPCO CI

South Korea’s largest utility Korea Electric Power Corp (KEPCO) is expected to ink an agreement with the Abu Dhabi National Oil Company (ADNOC) in the United Arab Emirates (UAE) as soon as the end of September 2024 to develop a multi-trillion won submarine power grid.

The agreement is part of a project to deliver electricity generated by the Korean utility’s nuclear power plant in Barakah to offshore oil fields over 100 kilometers away via subsea high-voltage, direct current (HVDC) transmission systems.

According to sources familiar with the contract on Wednesday, the final price proposal for the UAE DAS#2 HVDC Uae Das#2 Hvdc Submarine Transmission Network Construction/Operation Project has an end of July 2024 deadline. KEPCO already won exclusive negotiating rights in November 2023 and is highly expected to sign the contract with its UAE counterparts by the end of September 2024 if the two sides reach an agreement on price terms.