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South Korea will help build a nuclear power plant in Patnow, Poland, which could be its first nuclear power plant export in over a decade.
The state-run Korea Hydro & Nuclear Power (KHNP) Co. signed a letter of intent with Polish private energy group ZE PAK and Polish state-owned public power company PGE for collaborating on building the nuclear power plant’.
The construction will be based on the South Korean-developed APR1400 technology, which is a next-generation reactor model that boasts a larger capacity, a longer lifespan, and cost-effectiveness.
The entities aim to come up with a preliminary development plan for the construction by the end of this year.
The agreement with KHNP was made days after Poland chose US nuclear energy firm Westinghouse to build a separate nuclear power plant over KHNP and France’s EDF.
South Korea’s last nuclear power plant export was on the Barakah project in the United Arab Emirates in 2009.
Seoul’s industry ministry also signed a memorandum of understanding with Poland’s state assets ministry to actively back the project and to boost bilateral cooperation in the nuclear energy sector.
A feasibility study for a deal is expected to take around one year and the deal is forecast to be worth about 10 trillion won at its minimum price, according to an industry source.
