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    A015760   KR7015760002

KOREA ELECTRIC POWER CORPORATION

(A015760)
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UAE's first nuclear power plant begins commercial operations

04/06/2021 | 06:17am EDT

DUBAI, April 6 (Reuters) - The United Arab Emirates' first nuclear power plant started commercial operations on Tuesday, the Gulf Arab state's leaders announced on Twitter.

The Barakah nuclear power plant in the Abu Dhabi emirate is the first nuclear power station in the Arab world and part of the oil producing state's efforts to diversify its energy mix.

"The first megawatt from the first Arab nuclear plant has entered the national power grid," Vice President Sheikh Mohammed bin Rashid al-Maktoum said on Twitter.

De facto ruler Abu Dhabi Crown Prince Mohammed bin Zayed al-Nahyan said it was a historic milestone for the country, which this year celebrates 50 years since its formation.

Barakah's construction has faced delays as the Gulf state builds a nuclear industry from scratch.

Unit 1 received its operating licence from the nuclear regulator in 2020, three years after its expected planned start up in 2017.

Last August, Unit 1 was connected to the national power grid and in December reached 100% of reactor power capacity during testing.

Unit 2 was issued an operating licence in March this year.

When completed Barakah, which is being built by Korea Electric Power Corp (KEPCO), will have four reactors with 5,600 megawatts (MW) of total capacity - equivalent to around 25% of the UAE's peak demand. (Writing by Alexander Cornwell Editing by David Goodman and David Evans)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
KOREA ELECTRIC POWER CORPORATION 0.81% 24750 End-of-day quote.-9.67%
LONDON BRENT OIL 0.33% 75.56 Delayed Quote.44.55%
WTI 0.23% 73.317 Delayed Quote.51.13%
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More news
Financials
Sales 2021 58 803 B 52,0 B 52,0 B
Net income 2021 -505 B -0,45 B -0,45 B
Net Debt 2021 69 092 B 61,1 B 61,1 B
P/E ratio 2021 -36,2x
Yield 2021 1,54%
Capitalization 15 889 B 14 036 M 14 046 M
EV / Sales 2021 1,45x
EV / Sales 2022 1,42x
Nbr of Employees -
Free-Float 48,6%
Chart KOREA ELECTRIC POWER CORPORATION
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Korea Electric Power Corporation Technical Analysis Chart | A015760 | KR7015760002 | MarketScreener
Technical analysis trends KOREA ELECTRIC POWER CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 24 750,00 KRW
Average target price 28 714,29 KRW
Spread / Average Target 16,0%
EPS Revisions
Managers and Directors
NameTitle
Seung-il Cheong President, CEO & Executive Director
Jeong-soo Kim Head of Finance & IR Team
Jong-Hwan Lee Head-Technological Innovation
Jwa-Kwan Kim Independent Director
Bong-Ryeol Yang Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
KOREA ELECTRIC POWER CORPORATION-9.67%13 892
NEXTERA ENERGY-4.93%143 872
ENEL S.P.A.-3.69%96 766
IBERDROLA, S.A.-10.90%78 849
DUKE ENERGY CORPORATION8.38%76 330
SOUTHERN COMPANY1.06%65 074