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Korea Herald
05-06-2025
- Business
- Korea Herald
KHNP to set up on-site construction office for Czech power plant project
South Korea's state-run Korea Hydro & Nuclear Power Co. (KHNP) will first establish an on-site construction office in the Czech Republic to swiftly commence the nuclear reactor construction project for the European nation, company officials said Thursday, a day after the two sides finalized the deal. KHNP will soon hold a kick-off meeting with Czech state-controlled power company Elektrarna Dukovany II (EDU II) for the project and open an on-site construction office at the Dukovany nuclear power plant, located about 170 kilometers southeast of Prague, according to the officials. A South Korean consortium led by KHNP was named the successful bidder for the estimated US$19.1 billion project last month, but the signing of the deal had been delayed due to an injunction issued by a Czech court following a legal complaint from France's EDF, a losing bidder in the tender. KHNP electronically signed the final agreement with EDU II to build two new nuclear power units at the Dukovany plant late Wednesday, shortly after the Czech Supreme Administrative Court overturned the injunction. The Dukovany deal marks South Korea's first overseas nuclear power plant contract since 2009, when the country secured a deal to build the Barakah nuclear power plant in the United Arab Emirates. "This contract is a remarkable achievement that once again proves the technological excellence and reliability of South Korea's nuclear power industry on the global stage," KHNP President Whang Joo-ho said in a press release. "KHNP will do its utmost to enhance the global competitiveness of the domestic nuclear ecosystem, fulfill our responsibility to future generations through safe and sustainable energy, and ensure the successful implementation of the project in close cooperation with the Czech Republic," he added. To speed up the process, KHNP plans to soon sign subcontracts with other members of the consortium. They are KEPCO Engineering & Construction Co., KEPCO Nuclear Fuel Co., KEPCO Plant Service & Engineering Co., Doosan Enerbility Co. and Doosan Engineering & Construction Co, according to KHNP. KEPCO E&C, KEPCO NF and KEPCO KPS, all subsidiaries of South Korea's state-run Korea Electric Power Corp., will be in charge of design, nuclear fuel supply and maintenance in the project, respectively. Doosan Enerbility and Doosan E&C will lead the construction of the nuclear reactors. South Korea plans to deliver two APR-1000 models, which are based on the advanced APR-1400 design employed by the Barakah Nuclear Power Plant, but modified to meet local demand, including a reduced capacity, for the Dukovany plant. The two new reactors will be built adjacent to the four existing 510-megawatt units at Dukovany, which have been in operation since the 1980s. The first new unit is expected to begin trial operations in 2036, with the second following approximately two years later. With the project, Seoul is expected to enjoy the upper hand in possible competition for another nuclear power plant project in the Czech Republic.
Korea Herald
04-06-2025
- Business
- Korea Herald
Czech court cancels injunction banning nuclear power plant contract with Korea's KHNP: report
A Czech court has canceled an injunction banning the signing of a multibillion-dollar nuclear power plant contract with South Korea, lifting a major hurdle in the final agreement between the two sides, the Korean company in charge of the project said Wednesday. The Korea Hydro & Nuclear Power Co. (KHNP) confirmed media reports that the Czech Supreme Administrative Court overturned the injunction that has prevented the European nation's Elektrarna Dukovany II (EDU II), the entity in charge of the project, and the South Korean consortium, led by KHNP, from signing the final contract to build two new nuclear power units in Dukovany nuclear power plant. The move came following EDU II's appeal last month against a local court decision to issue an injunction temporarily suspending the finalization of the estimated 26 trillion-won ($18.6 billion) deal at the request of French energy company EDF, a losing bidder in the tender process. The KHNP had initially planned to sign the final agreement with EDU II on May 7 to build two 1,063-megawatt reactors at the Czech power plant, located about 170 kilometers southeast of Prague. If the deal is finalized, it will mark South Korea's first overseas nuclear power plant contract since 2009, when the country secured a deal to build the Barakah nuclear power plant in the United Arab Emirates. "The KHNP welcomes the Czech supreme court's decision to reverse the injunction and looks forward to swiftly signing a final contract with Prague," the Korean company said. (Yonhap)
Korea Herald
09-04-2025
- Business
- Korea Herald
S. Korea on course to conclude negotiations on Czech nuclear power plant project: minister
South Korea is on course to conclude negotiations for a project to build a nuclear power plant in the Czech Republic, Seoul's industry minister said Wednesday, as the final agreement for the highly anticipated project is being delayed. "We have completed documentations for the project, and local procedures, such as a legal review and board meetings, are currently under way," Industry Minister Ahn Duk-geun told the parliamentary committee on industry and trade. "We hope to finalize the agreement in late April or early May at the latest," he added. A South Korean consortium, led by the state-run Korea Hydro & Nuclear Power Co. (KHNP), was selected as the preferred bidder in July 2024 to build two reactors at the Dukovany power plant in the East European country. If finalized, the deal, estimated at 24 trillion won ($16.7 billion), would mark South Korea's first overseas nuclear power plant project since 2009, when KHNP won the Barakah Nuclear Power Plant contract in the United Arab Emirates. The consortium had initially aimed to strike a final deal on the project by the end of March. Meanwhile, Ahn said the government is also working to resolve Seoul's designation as a "sensitive" country by the US Department of Energy, set to take effect Tuesday. In early January, the DOE placed South Korea in the "lowest" category of its "sensitive and other designated countries list," reportedly due to technical security issues. The listing has sparked concerns it may hinder bilateral technology cooperation between Seoul and Washington. In a recent meeting with US Energy Secretary Chris Wright, the two sides agreed on the need for bilateral cooperation in the nuclear power plant sector, Ahn said. Ahn met with Wright in Washington last month to discuss the "sensitive" country listing issue and energy cooperation. (Yonhap)
