Alstom Grid and KEPCO create strategic power electronics joint venture
Alstom Grid and Korea Electric Power Corporation (KEPCO), one of the largest electric utilities in the world, have announced the creation of KEPCO Alstom Power Electronics Systems (KAPES). The joint venture will focus on delivering high voltage direct current (HVDC) projects in Korea. This long term strategic relationship aims at increasing Korean transmission grid capabilities based on Alstom technology. The joint venture is implemented with a shareholding of 49% for Alstom and 51% for KEPCO.
The HVDC global market is expected to grow by 50 billion between now and 2020 and is a strategic growth area for Alstom Grid and KEPCO, as Supergrids develop around the world. Alstoms high voltage direct current technology is essential for bringing large amounts of power across long distances, with minimal losses, and is also used for integrating renewables and for offshore connections.
Alstom Grid and KEPCO have been working together since 1997 on two important HVDC reference projects in Korea. Alstom provided the original 300 MW HVDC bipole link for the point-to-point submarine interconnection linking South Koreas Jeju Island across 101 kilometres with the mainland in the late 1990s. In 2009, Alstom was then awarded a second contract to supply the new converter stations for the 400 MW high voltage direct current (HVDC) bipole scheme.
This joint venture will allow Alstom to increase its HVDC technical footprint in Asia and KEPCO to benefit from Alstoms proven industrial expertise, said Patrick Plas, Senior Vice President, Alstom Grid. We are very honoured to partner with the largest electric utility in South East Asia. Our past success in HVDC projects in Korea has built common understanding and a strong and shared feeling of confidence, Patrick Plas added.
Alstom is one of the worlds leaders in power generation, power transmission and rail infrastructure and sets the benchmark for innovative and environmentally friendly technologies. Alstom builds the fastest train and the highest capacity automated metro in the world, provides turnkey integrated power plant solutions and associated services for all thermal (coal, nuclear, gas...) and renewable (hydro, wind, solar...) energy sources. It offers a wide range of solutions for power transmission, with a focus on smart grids. The Group employs 93,000 people in around 100 countries. It had sales of over 20 billion and booked close to 24 billion in orders in 2012/13.
Alstom Grid has over 130 years of expertise in electrical grids. Whether for utilities or electro-intensive industries or facilitating the trading of energy, Alstom Grid brings power to its customers projects. Alstom Grid ranks among the top 3 in the electrical transmission sector with an annual sales turnover of more than 4 billion. It has 19,000 employees and around 90 manufacturing and engineering sites worldwide. At the heart of the development of the Smart Grid, Alstom Grid offers products, services and integrated energy management solutions across the full energy value chainfrom power generation, through transmission and distribution grids and to the large end user.
Nathalie Bourotte (Alstom Grid) Tel +33 1 49 01 62 17
Julie Khoo (Alstom Korea) Tel + 65 623 615 75