KHNP to invest $40 million in Bill Gates' TerraPower
Published: 06 Sep. 2024, 12:01
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- CHO YONG-JUN
- cho.yongjun1@joongang.co.kr
![TerraPower officials, including its founder and chairman Bill Gates, celebrate the start of the company's nuclear reactor construction in Wyoming in June. [TERRAPOWER]](https://koreajoongangdaily.joins.com/data/photo/2024/09/06/9279a794-7d19-4946-8b30-aa032f5a37ae.jpg)
TerraPower officials, including its founder and chairman Bill Gates, celebrate the start of the company's nuclear reactor construction in Wyoming in June. [TERRAPOWER]
KHNP will need to receive final approval from the board before the investment deal is completed.
Once finalized, KHNP will become the first Korean public energy corporation to invest in an SMR business.
KHNP will pay $40 million to SK Group to acquire a 16 percent stake in a special purpose company created by the Korean conglomerate for the investment in TerraPower.
KHNP and SK Group are expected to sign the deal by the end of this month.
Founded in 2006, TerraPower is known for developing sodium-cooled fast reactors and molten salt reactors. The company is building its first advanced non-light water reactor project in Wyoming, which is the first of its kind to enter the construction phase.
BY CHO YONG-JUN [cho.yongjun1@joongang.co.kr]
with the Korea JoongAng Daily
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