Seoul: Korea Hydro and Nuclear Power Co. (KHNP) is expected to win orders for nuclear plants in Poland following a contract to supply equipment for the El Dabaa Nuclear Power Plant in Egypt.
It is the result of 'nuclear plant sales' activities conducted by President Yoon Suk-yeol, Minister of Trade, Industry and Energy Lee Chang-yang, and KHNP President Hwang Joo-ho in Poland.
If KHNP wins the order for the Polish nuclear plant project, Yoon's 'nuclear power plant export drive' is expected to be accelerated. In particular, it is expected to have a positive impact on orders for nuclear plant projects in nearby countries such as Czech.
The Czech Republic is pushing for the construction project of a new nuclear power plant worth 8 trillion won. Korea, the U.S., and France are participating in the bid.
According to local media and nuclear power industry sources on the 21st, KHNP will sign a letter of intent (LOI) with Polish private energy companies ZEPAK and Polish Energy Group (PGE, Polska Grupa Energetyczna) as early as this month.
It is a project pushed for by ZEPAK to build a nuclear power plant on the site of the Patnow thermal power plant in central Poland, which is scheduled to be shut down in late 2024. It is reportedly a project that is not related to the construction project of the sixth nuclear power plant in Lubiatowo, Kopalino, which is being carried out by the Polish government.
The domestic nuclear industry sources expect the Polish nuclear plant project to reach at least 2 units and 10 trillion won. The signing of the LOI is only in the early stages of negotiations, but they said Korea is highly likely to win the project.
An industry source said, "The LOI will be signed as Korea is recognized for its competitiveness not only in construction technology but also in its ability to complete it within the period." In particular, it is more positive in that the LOI will be signed through the Korean government's active 'nuclear power plant sales' activities. Yoon's 'nuclear power plant drive,' which aims to export more than 10 nuclear power plants by 2030, is also expected to gain momentum.
In June, Yoon met with the Polish President at the NATO summit, conducting 'nuclear power plant sales' activities. Industry Minister Lee Chang-yang and KHNP President Hwang Joo-ho also visited Poland for nuclear power plant sales.
Until now, Korea has usually won orders for nuclear power plants in the Middle East, but if exports of nuclear power plants to Poland are carried out, it is expected to be a bridgehead for exports to the European Union. In particular, it is expected to have a positive impact on the Czech Republic's bid for new nuclear power plant worth 8 trillion won, in which Korea, the U.S, and France are participating.
"The additional nuclear power plant project in Poland will take time as the bidding for the sixth nuclear power plant in Lubiatowo, Kopalino has not been completed," said an industry source. "As developed countries are considering building nuclear power plants due to difficulties in energy supply and demand caused by Russia's invasion of Ukraine, it will be a positive factor for Korea."