KHNP plans to invest $40 mil. in Bill Gates' TerraPower

Former Microsoft CEO Bill Gates, center, TerraPower CEO Chris Levesque, fifth from left, Governor of Wyoming Mark Gordon, third from left, participate in the groundbreaking ceremony for a small modular reactor facility of TerraPower in Wyoming, June 10. Courtesy of SK

The state-run Korea Hydro & Nuclear Power (KHNP) plans to invest $40 million in TerraPower LLC, a U.S. small-sized nuclear reactor company founded by Bill Gates, an industry source said Friday.

If formally approved by KHNP's board, it will mark the first investment by a state-run energy firm into a developer of small modular reactors.

KHNP "has pushed for investment into TerraPower," the source said, adding that a final decision will be made at the company's board meeting.

KHNP is expected to buy part of a TerraPower stake owned by SK and its affiliate. Last year, SK and its affiliate invested $250 million in TerraPower. (Yonhap)