South Korea’s Korea Hydro & Nuclear Power (KHNP), a subsidiary of Korea Electric Power Corporation, has been selected as the preferred bidder for the construction of two new nuclear power plants in the Czech Republic, a project valued at approximately NT$24 trillion (around $17.7 billion). This victory marks a significant milestone for South Korea’s nuclear industry, enabling it to establish a foothold in the advanced European market.
The Czech government plans to build up to four nuclear power plants with capacities under 1,200 megawatts (MW) in the Dukovany and Temelín regions. The initial phase will focus on the Dukovany site, where two plants will be constructed. Prime Minister Petr Fiala underscored the project’s importance, emphasizing its long-term benefits for the Czech people and the rigorous evaluation process that led to KHNP’s selection.
KHNP’s APR1000 reactor, a modified version of the APR1400, was chosen for its lower cost and enhanced local involvement compared to France’s EDF. The APR1000 maintains high safety and efficiency standards with a 60-year design life and a core damage frequency of less than once per million years. The estimated construction cost of NT$9 trillion is significantly lower than EDF’s EPR1200, which ranges between NT$15-16 trillion.
Doosan Enerbility, part of Team Korea, will supply key equipment, leveraging its acquisition of Czech steam turbine company Škoda Power. This local involvement was pivotal in winning the bid. The successful bid led to a 1.19% rise in Doosan Enerbility’s stock price on July 18.
This achievement not only boosts South Korea’s nuclear export capabilities but also positions KHNP for future projects in countries like Poland, the Netherlands, and Romania, further solidifying its global competitiveness.
