[Courtesy of Korea Hydro & Nuclear Power Co.]

According to Pulse by Maeil Business News Korea,

The Korea Hydro & Nuclear Power Co. (KHNP), South Korea’s state-run nuclear power agency, has successfully secured an order to build up to four nuclear reactors in the Czech Republic.

Czech Prime Minister Petr Fiala made an announcement on Wednesday (local time) that the country selected KHNP as the preferred negotiator for its new nuclear project.

“Korea‘s proposal outperformed (its French competitor) in all criteria,” Fiala said.

The Czech government plans to add up to four additional reactors to the existing six at Dukovany and Temelin, with operations expected to begin in 2036.

KHNP secured the order for Dukovany Units 5 and 6, which is worth 24 trillion won, alongside exclusive negotiation rights for the follow-up order of Temelin Units 3 and 4.

Shortly after the Czech government’s announcement, President Yoon Suk Yeol expressed deep gratitude to the companies, nuclear industry professionals, government officials, and citizens who worked together as “Team Korea.”

He urged them to continue their efforts towards finalizing the contract, according to Sung Tae-yoon, director of national policy at the presidential office.

“We have established a bridgehead for exporting our nuclear power plants to Europe, the home of the first commercial nuclear reactor,” Sung said in a press briefing on Wednesday. “We highly appreciate the Czech Republic for siding with Korea in the latest project.”

Team Korea, led by KHNP, includes KEPCO Engineering & Construction Co. (nuclear design), Daewoo Engineering & Construction Co. (construction), and Doosan Enerbility Co. (main equipment supply).

KHNP President Hwang Ju-ho personally visited the Czech Republic in June 2024 to submit the final bid to the project‘s main contractor, Elektrarna Dukovany II (EDUII), a subsidiary of Czech state utility company CEZ.

The state-run nuclear power plant operator proposed the APR-1000 model, a Korean-designed export reactor. The intense competition against French electricity utility Électricité de France SA continued until the final moments, reminiscent of the UAE project in 2009 where Korea was also victorious.

The Czech government is known to have been impressed by Korea’s successful completion of the construction of four nuclear reactors at the Barakah Nuclear Power Plant in the UAE.

KHNP finalized contract details with EDUII on Wednesday, with plans to sign a formal agreement in March next year.

As the conditions for selecting the preferred bidder include both price and technical aspects, the final contract will be coordinated based on the terms proposed in the current bid.

The Korean nuclear industry expects the latest contract to provide enough work for the country’s nuclear ecosystem for more than 15 years.



By Moon Ji-woong, Ahn Jeong-hoon, Lee Jin-han, and Yoon Yeon-hae

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (July 18, 2024)