Nuclear plant agreement between Czech Republic and South Korea obstacles due to France's objection; court intervenes, halts $18 billion project.
Dukovany Nuclear Power Plant: A Giant Leap for Korea and the Czech Republic 🕰️ Updated: May 6
Get the lowdown on the biggest nuclear power deal ever in the Czech Republic – Korea's involvement in the Dukovany nuclear project! 🚀
The Dukovaney nuclear power plant: A quick run-through 🏗️
- Units 1 to 4 are currently operational in the Czech Republic. [Korea Hydro & Nuclear Power]
All about the Dukovany nuclear deal with Korea 🤝
Details and worth
- What's the plan? Two 1,055-megawatt reactors will be built at the Dukovany site, marking Korea's first nuclear export since 2009 and construction commencement in 2029, with the first reactor slated for operation in 2036. [Korea Hydro & Nuclear Power]
- How much is it worth? Valued at approximately $18 billion, this represents the largest public procurement in Czech history and is crucial for the Czech Republic's energy transition away from coal. [1][5]
Hurdles on the way
- Legal issues - A court injunction halted the signing of the contract in response to a challenge by French energy company EDF, an unsuccessful bidder. [2][4]
- Resolving the impasse - The Czech state utility firm, CEZ, plans to appeal the injunction at the Czech Supreme Administrative Court. [2]
Economic ties that bind
- Agreements and MOUs - South Korea and the Czech Republic have signed numerous agreements and memorandums of understanding in various sectors, including nuclear energy. [1]
- Expanding horizons - The Dukovany project could serve as a stepping stone for both countries to venture into third-country markets together. [2]
Current situation
- The deal is in limbo till the resolution of the court injunction, but both countries remain optimistic. The Czech government has granted preapproval for the contract, ready to proceed once the injunction is lifted. [1]
- The upcoming Dukovany nuclear project, a significant venture for both Korea and the Czech Republic, aligns with the business interests of Korea Hydro & Nuclear Power, marking Korea's re-entry into the international energy industry.
- The Dukovany deal, valued at approximately $18 billion, not only provides Korea with its first nuclear export since 2009 but also serves a crucial role in the Czech Republic's government-backed energy transition, aiming to shift away from coal.
- The strategic partnership between South Korea and the Czech Republic, as demonstrated by numerous agreements and memorandums of understanding, extends beyond the Dukovany project, potentially paving the way for joint endeavors in third-country markets in various sectors, including finance and industry.
