KEPCO to Invest $7.2 Billion in Smart Grid

State-run Korea Electric Power Corp (KEPCO) said it would invest 8 trillion won ($7.18 billion) in its smart grid business by 2030 to cut carbon emissions and boost the efficiency of electricity facilities. Of the total investment 400 billion won per year will be spent in the next five years, 2.3 trillion won through 2020 and the remainder through 2030 to upgrade power transmission and distribution systems and switch meters, the company said in a statement.

South Korea said in early 2010 that it aimed for spending of 27.5 trillion won over the next two decades on smart grids to make electricity distribution more efficient, reduce greenhouse gas emissions and save $26 billion in energy imports.

Source: Energy Business Daily