ENEC Commercial

In October 2016, ENEC and KEPCO launched ENEC Commercial as a Joint Venture Company mandated to manage the commercial interests of the Barakah Nuclear Energy Plant, secure project finance from institutional and commercial lenders and receive funds for the electricity generated from Units 1 to 4 in Barakah. ENEC Commercial manages the sale of electricity generated at the Barakah Plant and the funds received from the Abu Dhabi Department of Energy’s utilities companies as part of the Power Purchase Agreement signed in 2016. One of ENEC Commercial’s initial responsibilities was to ensure that ENEC and KEPCO build the plant in accordance with the highest standards of quality, safety and sustainability, in accordance with all existing contracts including the Prime Contract. The Barakah Plant is financed through a combination of debt and equity, and ENEC Commercial also ensured the lenders continued to support the project.