Korea Hydro & Nuclear Power Co. secured its first international nuclear reactor refurbishment contract, expanding beyond new plant construction into the growing maintenance market.
The state-owned utility will spearhead a 2.8 trillion won ($1.9 billion) project to modernize Unit 1 at Romania’s Cernavoda Nuclear Power Plant, partnering with Canada’s Candu Energy Inc. and Italy’s Ansaldo Nucleare SpA. KHNP’s 40% share amounts to 1.2 trillion won ($830 million).
The 65-month project, starting February 2025, involves replacing reactor components and upgrading infrastructure, including radioactive waste storage facilities. KHNP assembled a team of domestic contractors including Doosan Enerbility Co. and Samsung C&T Corp.
The Romanian contract marks KHNP’s latest international expansion following nuclear power plant construction deals in Egypt and Bulgaria. The company is also the preferred bidder for a $17.1 billion reactor project in the Czech Republic.
Industry analysts project substantial growth in the nuclear refurbishment sector, with Zion Market Research forecasting the global market to reach $91.3 billion by 2032, up from $46.3 billion in 2023.
The Unit 1 reactor, operational since 1996, uses Canadian-designed Candu-6 technology, similar to South Korea’s Wolseong reactors.
