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KHNP set to finalize deal on Czech nuclear power plant

Published: 13 Mar. 2025, 18:52

The Dukovany nuclear power plant, where a Korean consortium led by Korea Hydro & Nuclear Power was selected as a preferred bidder to build at least two more reactors [YONHAP]

Korea's state-run Korea Hydro & Nuclear Power (KHNP) said Thursday negotiations with the Czech Republic's energy company for its nuclear power plant construction project are expected to be finalized later this month.

"We are in the final stage of the negotiations with the Czech client and are now fine-tuning details at a reasonable level," KHNP told Yonhap News Agency. "We are planning to conclude the talks within March and set the date for signing after considering other factors, including internal procedures and government reporting."

KHNP has been in talks with the Czech Republic's Elektrarna Dukovany II since a KHNP-led Korean consortium was selected as the preferred bidder in July 2024 to build two reactors at the Dukovany power plant in the East European country.

While the two sides have reportedly reached an agreement on key points, such as the total project cost, they are still discussing specific issues, including the percentage of localization throughout the construction process.

If finalized, the deal, estimated at 24 trillion won ($16.7 billion), would mark Korea's first overseas nuclear power plant project since 2009, when KHNP won the Barakah Nuclear Power Plant contract in the United Arab Emirates.

KHNP settled an intellectual property dispute with U.S.-based Westinghouse in January, removing a major hurdle to the successful signing of the Czech project.

Westinghouse had previously claimed the Korean firm infringed on its intellectual property.

Yonhap