KIC Discusses Investment in U.S. Power Infrastructure with New York Financiers

[Financial News] Korea Investment Corporation (KIC) announced on the 1st that it held the 23rd 'New York Korean Finance Forum' at the New York Consulate General on July 31 (local time), organized by its New York branch.
The forum was attended by more than 30 people, including the Deputy Consul General (Economic Affairs Officer) of the Consulate General in New York, government and public investment institutions, and investment managers from securities firms, banks, and insurance companies.
Doug Kimmelman, Chairman of Energy Capital Partners, who gave a presentation, predicted that U.S. power demand would increase 1.5 to 2 times by 2040 compared to now.
Chairman Kimmelman said, "The U.S. is seeing an increase in power demand due to the expansion of data centers following the expansion of artificial intelligence (AI) operations and the increase in electricity-based transportation," adding, "The growth of U.S. manufacturing and the electrification of residential and commercial facilities are also driving the increase in power demand."
He said, "Renewable energy is being highlighted as an energy source to meet the rapidly increasing power demand thanks to relatively short power plant development periods, low generation costs, and a preference for clean energy."
However, Chairman Kimmelman added, "Renewable energies such as wind and solar power may have inconsistent generation depending on the environment, so the need for gas-fired power generation may increase to supply power stably at all times."
Forum participants continued discussions on various investment opportunities related to data center power supply solutions, power infrastructure to respond to peak demand, and regions where structural power demand increases are expected.
ECP, established in 2005, is a North American-based management company that primarily invests in power infrastructure and sustainable infrastructure, including eco-friendly solutions.
Lee Kyung-taek, head of the New York branch, who organized the forum, said, "It was a beneficial event where we deeply discussed major issues related to power demand increase and new investment opportunities," adding, "It is expected to help domestic institutional investors establish future investment strategies."
KIC operates overseas branches and offices in global financial centers (New York and San Francisco, USA; London, UK; Singapore; Mumbai, India). Each overseas base strives to share investment information and establish a mutual cooperation system with domestic public and private financial institutions that have entered the local market.

 


sjmary@fnnews.com Seo Hye-jin Reporter