Follow-up disclosure of a public filing released on December 21, 2018, relating to building and operating a nuclear power plant project in Barakah, United Arab Emirates.
On December 20, 2018, the board of directors of Korea Electric Power Corporation (“KEPCO”) resolved to make an equity investment in Barakah One Company (“Barakah One”), a special purpose company established to build and operate a nuclear power plant project in Barakah, United Arab Emirates. At the time, such investment was scheduled to be made in September 2025.
In light of the change in schedule, KEPCO is now expected to invest USD 1.22 billion in Barakah One and acquire 4,493,376 of its shares in March 2025. Such number of shares represents around 18% of the total equity interest of Barakah One.
The project duration of the Barakah nuclear power plant project is expected to be from 2017 to 2084, which is 60 years from the start of the commercial operation of the Unit 4, the last completed nuclear reactor, in 2024.