The JV, dubbed as KEPCO Alstom Power Electronics Systems (KAPES), intends to increase Korean transmission grid capabilities based on Alstom technology.
France-based Alstom will hold 49% in the JV, while KEPCO will own the remaining 51%.
Alstom Grid senior vice president Patrick Plas said, "This joint venture will allow Alstom to increase its HVDC technical footprint in Asia and KEPCO to benefit from Alstom’s proven industrial expertise."
Alstom Grid and KEPCO have been working together since 1997 on two HVDC reference projects in Korea.
Previously, Alstom has provided the original 300MW HVDC bipole link for the point-to-point submarine interconnection linking South Korea’s Jeju Island across 101km.
In 2009, Alstom secured a contract to supply the new converter stations for the 400MW HVDC bipole scheme.
The HVDC global market is anticipated to grow by EUR50bn between now and 2020.
