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Biz News Korea(Eng)
KEPCO to build EV infrastructure worth $30mn in Dominican Republic
- Collected
- 2017.12.01
- Distributed
- 2017.12.04
- Source
- Go Direct
KEPCO announced on Thursday that it signed a memorandum of understanding with Dominican Republic‘s National Energy Commission in Santo Domingo, the capital city of the Caribbean country, to construct EV infrastructure including charging stations and collaborate on renewable energy business.
The project, which is estimated at $30 million, includes installation of 160 EV charging stations in three cities in the Dominican Republic including Santo Domingo, according to KEPCO. The company has already conducted a feasibility study on the EV infrastructure business in the three cities since May.
Electric car demand in the Dominican Republic is expected to surge, given the fact that the country is an island state with short travel times, said Juan Rodriguez Nina, director of Dominican Republic’s National Energy Commission.
On the same day, ESD, a Korean firm based in the Dominican Republic also inked a MOU with the Caribbean country’s leading university Pontificia Universidad Católica Madre y Maestra to cooperate on the development of an EV charging infrastructure management system.
Korea Electric Power shares ended Thursday down 1.06 percent at 37,500 won ($34.48).
By Kang Doo-soon and Cho Jeehyun
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