Korea wins $18 bil. deal to build Czech nuclear power plant

The Dukovany nuclear power plant in the Czech Republic / Yonhap

The Czech Republic has made a final decision to sign a contract with Korea Hydro & Nuclear Power (KHNP) on May 7 for the construction of two nuclear reactors at the Dukovany Nuclear Power Plant, Korea’s Ministry of Trade, Industry and Energy said, Wednesday.

The Czech government held a Cabinet meeting on the day and approved the project, which is valued at 400 billion Czech koruna ($18 billion). The decision follows the Czech Republic’s selection of KHNP as the preferred bidder for the Dukovany project in July 2024.

It marks Korea's second nuclear power plant export, following the 2009 Barakah project in the United Arab Emirates.

The Korean ministry welcomed the Czech government’s decision to move forward with the deal and confirmed that the two countries are now coordinating the details for a joint signing ceremony.

The project was tendered in 2022 by Elektrarna Dukovany II, a subsidiary of the state-run utility company CEZ Group. KHNP and France’s EDF were shortlisted as the final bidders.

Initially, U.S. nuclear technology firm Westinghouse, which was excluded from the final bidding round, challenged KHNP’s eligibility and filed a legal complaint seeking the company’s disqualification. However, the dispute was resolved in January when Westinghouse and KHNP reached an agreement to end the legal battle and instead pursue cooperation in the global nuclear market.