S. Korea’s KHNP named preferred bidder to build nuclear plants in Czech Republic

South Korea’s industry ministry said Wednesday that Korea Hydro & Nuclear Power (KHNP) has been selected as a preferred bidder to build two nuclear power units in the Czech Republic.

If the remaining procedures are successful, it will mark the first time since 2009 that South Korea has secured an overseas nuclear power plant construction project, following its contract to build the Barakah Nuclear Power Plant in the United Arab Emirates.

The Czech Republic had received binding bids from a South Korean consortium led by the KHNP and France’s EDF for the project to build nuclear reactors in Dukovany.

In a statement, the industry ministry hailed the Czech government’s decision, saying that it has secured a “bridgehead” for South Korea to further make inroads into Europe’s market for nuclear power plants.

“This achievement is expected to give us a strong momentum for the goal of exporting 10 units of nuclear reactors by 2030,” the ministry said in the statement.

The combined value of the two nuclear reactors was estimated at 24 trillion won (US$17.3 billion), according to the ministry.

The South Korean consortium includes KEPCO E&C, KEPCO Nuclear Fuel, KEPCO KPS, Doosan Enerbility Co. and Daewoo Engineering & Construction Co.

The final result is expected to be announced within the first half of next year.

South Korea plans to supply the Czech Republic with 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.

The project is also anticipated to help South Korea penetrate deeper into the European market for nuclear energy, including Poland, the Netherlands and Romania.

Following the announcement, President Yoon Suk Yeol said the Czech Republic’s selection of the KHNP as a preferred bidder demonstrates the global competitiveness of South Korea’s nuclear industry and called for efforts to finalize the contract, Sung Tae-yoon, the presidential chief of staff for policy, said in a briefing.

Last week, Yoon met with Czech President Petr Pavel on the sidelines of the NATO summit in Washington to highlight South Korea’s nuclear technology, production capacity and financial packages needed to build advanced nuclear reactors to support the KHNP’s bid.