Korea Hydro & Nuclear Power to secure 26 trillion won order from Czech nuclear power plant...formal contract to be signed on May 7 (Korea)

Korea Hydro & Nuclear Power (KHNP) announced on April 30 that it had been selected as the final operator for a new nuclear power plant construction project in the Czech Republic, which is estimated to cost 26 trillion won (approximately 2.61 trillion yen).
According to the Ministry of Industry, Trade and Energy, the Czech government approved the construction budget at a cabinet meeting on the same day. A formal contract with KHNP is expected to be signed on May 7. The contract will be signed by KHNP and the ordering agent, state-run Czech Electric Power (CEZ).
The nuclear power plant export by a Korean company was the Barakah plant in the United Arab Emirates (UAE) in 2009.
If the Czech government decides on the construction plan for the Temelin Nuclear Power Plant Units 3 and 4, KHNP may be given the right of first refusal.
In addition to Korea Electric Power Group companies such as Korea Electric Power Technology, Korea Electric Power Co., Inc. (KEPCO), and Korea Nuclear Fuel, private companies such as Doosan Energy and Daewoo Engineering & Construction will also participate in the project.
According to Reuters and other sources, Czech Prime Minister Fiala said at a press conference that the government would hold 80 percent of the business's shares.
Previous media reports said that the construction costs would be paid by the Czech government, with the client paying them back over 30 years. The Czech government has estimated the construction costs for the two Dukovany nuclear power plants at 400 billion crowns (approximately 2.5 trillion kronor).
After the contract is signed, KHNP will build new reactors 5 and 6 at the Dukovany nuclear plant, which currently has four reactors in operation. In the 2022 tender, KHNP will bid on its price competitiveness and track record of meeting construction deadlines.
Using this as a weapon, it was selected as the preferred negotiating partner in July last year, beating out US Westinghouse and French power company EDF. Initially, it was aiming to reach a final contract by March this year, but Westinghouse
The contract had been delayed due to a dispute over intellectual property rights with Ghaus and a challenge filed with the Czech National Agency for Economic and Competition Protection by an unsuccessful competitor.
In January of this year, Westinghouse agreed to resolve its intellectual property rights dispute with KHNP and filed a lawsuit against the Czech Agency for Economic and Competitive Affairs (U
After UOHS finally rejected EDF's appeal on the 24th of last month, the Czech government announced the signing of the contract with KHNP six days later.
The new nuclear power plants are expected to start operation in stages from around 2036. The Czech Republic plans to increase its nuclear power generation ratio from 37% as of 2022 to 50% by 2050.
The plan is to increase the number of nuclear power plants in the country and to proceed with additional construction at both Dukovany and Temelin.