Power purchase agreement signed for UAE NPP

3 November 2016

An agreement to buy electricity generated from the United Arab Emirates' Barakah NPP was signed on 1 November between Barakah One PJSC - an independent and jointly owned subsidiary of the Emirates Nuclear Energy Company (Enec) and the Korea Electric Power Corporation (Kepco) - and the Abu Dhabi Water and Electric Company (ADWEC). It establishes the contractual framework for the electricity produced at Barakah over the next 60 years. Barakah One was established by Enec and Kepco in October to represent the commercial and financial interests of the Barakah project. Enec is the majority owner, with 82%, while Kepco holds 18%. Another subsidiary, Nawah - also owned 82% by Enec and 18% by Kepco - will operate and maintain the plant. Four Korean-designed APR-1400 pressurised water reactors are under construction at Barakah, with unit 1 expected to start up in 2017. All four nuclear units are now over 72% complete. 

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