Enec's Barakah One Co, Kepco ink MoU for 'Barakah Model' projects
Agreement signed to further collaboration on investment, licensing, operations, and training in new nuclear energy markets
Barakah One Company – a subsidiary of the UAE's Emirates Nuclear Energy Corporation (Enec), the developer of Barakah Nuclear Energy Plant in Abu Dhabi's Al Dhafra – has signed a memorandum of understanding (MoU) with Korea Electric Power Corporation (Kepco) to explore opportunities for collaboration in the nuclear energy sector based on the ‘Barakah Model’, which aims to seek opportunities in new nuclear energy markets.
This includes investment and financing, licensing and safeguards, operations and maintenance, and training and exchange of scientific and technical expertise in the field of nuclear energy.
The MoU may also include nuclear fuel cycle management, localisation, and development of nuclear energy infrastructure
Barakah One Company's chief executive officer, Nasser Al Nasseri, and Kepco CEO and president, Jong Kap Kim, signed the agreement at the Nuclear Energy Congress event in Abu Dhabi, co-located with the 24th World Energy Congress summit.
Commenting on the agreement, Al Nasseri said: “We will collaborate to identify potential prospects to support the establishment of nuclear energy projects in other countries that will benefit from the unique knowledge and skills developed at Barakah through the development of the UAE Peaceful Nuclear Energy Programme.
“The MoU will enable our teams to explore all aspects of nuclear energy programs including the establishment of infrastructure, development of human capital, creation of financing plans and supply chains.”