Korea, France and US could compete for Polish nuclear power plant project

The Barakah nuclear power plant in the United Arab Emirates managed by Korea Electric Power Corp.

Korea Hydro & Nuclear Power (KHNP) and the Ministry of Trade, Industry and Energy met with the Polish government on November 5 (local time) and discussed South Korea’s participation in the construction project of a nuclear power plant in Poland.

The South Korean consortium, comprising the Export-Import Bank of Korea, Korea Trade Insurance Corp., Doosan Heavy Industries & Construction and Daewoo Engineering & Construction, plans to submit its proposal by the first quarter of 2022. The proposal is expected to include technology transfer and engineering training, in which the Polish government is particularly interested.

At present, the Polish government is seeking a long-term strategic partnership in the project, asking foreign participants to provide 49 percent of the necessary financial resources. In this regard, KHNP is working on specific measures with the Korea Import-Export Bank and the Korea Trade Insurance Corporation.

At the meeting, KHNP signed a Memorandum of Understanding regarding technological localization with the Association of Electric Power Industry of Poland. In addition, Doosan Heavy Industries & Construction and Daewoo Engineering & Construction have signed MoUs regarding equipment supply, construction cooperation, etc. The consortium plans to work with at least 70 local engineering, machinery, construction and energy companies on the project.

The Polish government plans to commission Poland’s first nuclear power plant in 2033 and increase the number to at least six by 2043. The power generation capacity of the first power station is estimated at 1.6 GW and the total capacity of the six is ​​estimated at 9 GW.

EDF and Westinghouse Electric Company have already indicated their intention to participate in the project. The French company recently said it could build and operate four to six power plants in a few regions of Poland and the American company is working with Bechtel to participate in the project with the AP1000 reactors. The total cost of the project is estimated at 65 trillion won.

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