Forbes magazine named Korea Electric Power Corp. as the best energy company in the world this year.
Kepco bagged the number one spot in Forbes’ worldwide list of top electric utilities in 2016.
Kepco said in a statement this marked the first time an Asian energy company topped Forbes Global 2000 list.
Kepco landed in the 97th spot in Forbes’ overall ranking of world’s largest companies in 2016, up from its 171st place in 2015.
Forbes Global 2000 is Forbes magazine’s annual ranking of the top 2,000 public companies in the world, based on sales, profits, assets and market value.
Kepco increased its sales to $52.1 billion, its profits to $11.7 billion, its assets to $149.5 billion and its market value to $33.1 billion, according to Forbes.
Kepco’s net profit reached $8.63 billion in 2015 and in 2012 its price per share increased to P2,382 from P794. Further, Kepco’s debt ratio was reduced to 99.9 percent in 2015 from 135.8 percent in 2013.
Kepco manager Joo Yoon-jung said Forbes gave high regard to the company’s different power projects in 21 countries, including those operating in Japan and United Arab Emirates.
Kepco has been present in the Philippine power sector for the past 20 years.
Its first venture in the Philippine energy market was through its wholly-owned subsidiary Kepco Philippines Corp. which successfully rehabilitated and operated the Malaya power plant in Pililla, Rizal by restoring its rated capacity to 650 megawatts.
Kepco, through its subsidiary Kepco Ilijan Corp., is also the owner and operator of the 1,200-megawatt combined cycle natural gas power plant in Ilijan, Batangas.