Polish nuclear project. Koreans say they are willing

Koreans who visited Poland confirmed their willingness to participate in the Polish nuclear project. “Poland is the country with the highest activity of Korean companies in the Visegrad Group. There are 260 here,” Chang-Yang Lee, South Korea’s trade, industry and energy minister, said Thursday.

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Koreans confirm the offer

The Korean Nuclear Conference was held on Thursday High-Tech Day 2022, when representatives of Korean companies and the Korean government confirmed their interest in participating in the Polish nuclear energy development program.

In April, we submitted a quote to the Ministry of Climate and Environment. Today we confirmed our willingness to participate in the Polish nuclear project

Jae-hoon Chung President said at the conference: CEO of Korea Hydro Nuclear energy (KHNP).

He also emphasized that KHNP is interested in collaborating with Polish companies that are “familiar with local legal conditions and European technologies”.

Poland is the country with the highest activity of Korean companies among the countries of the Visegrad group. There are 260 Korean companies operating in Poland. Our countries have elevated their cooperation to a strategic partnership

– emphasized by South Korean Minister of Trade, Industry and Energy Chang – Yang Lee.

He pointed to the breadth of the Korean offer when it comes to building nuclear power plants, from design to implementation and training of personnel.

Cooperation in the energy sector

Piotr Dziadzio, Deputy Minister of Climate and Environment, attended the conference.

I am convinced that the visit of the Korean delegation to Poland will also translate into cooperation in the energy sector

– He said. He recalled that Poland must implement zero-emission power generation technologies by 2050 and that nuclear power should account for 20 percent. participation in the Polish energy mix. He encouraged investors from South Korea to invest in production capacity in Poland.

What did the KNHP propose?

KHNP belongs to the state-owned Korea Electric Power Corporation (KEPCO). It is the operator of all 24 operating in South Korea. nuclear blocks. Koreans are also building the Barakah power plant in the United Arab Emirates of four APR1400 reactors. The first two blocks of this gym have already been launched.

In April 2022, KHNP submitted a bid to Poland for the construction of 6 APR1400 reactors with a capacity of 8.4 GW. The first could go into operation in 2033, in line with the schedule adopted in the Polish Nuclear Energy Program (PPEJ). The financial offering, supported by the South Korean government, in turn includes a comprehensive financing plan and options for investment support from KHNP and Korean government agencies such as export credit agencies.

According to the Polish Nuclear Power Programme, Poland plans to build modern, but proven and large reactors of the PWR type. The Polish Energy Policy until 2040 assumes that in 2033 the first block of the Polish nuclear power plant with a capacity of approximately 1-1.6 GW will be put into operation. Subsequent blocks will be implemented every 2-3 years and the entire nuclear program foresees the construction of six units with a capacity of up to 9 GW.

The Polish government expects the partner in the nuclear program to also account for 49 percent. shares in a special company, will provide sufficient financing and will participate not only in the construction but also in the operation of nuclear power plants.

The deputy director of the new projects department, Seung-Oh Hong, estimated at the end of June this year that – if the Korean offer is accepted – work on the first Polish block will take 10 years, including design and licensing. Construction itself would take six years.

There is also an offer from the French

In late 2021, the French company EDF also made an offer to build 4 to 6 EPR reactors to the Polish government.

We proposed the construction costs of 4 to 6 reactors together with a capacity utilization guarantee, ie a guarantee that they will produce a certain amount of energy. We believe that this is a very competitive offer

– said the vice president of the French concern EDF Vakis Ramany.

The French company declares that it is prepared to comply with the conditions of the Polish government, for example by taking over up to 49 percent. shares in the company that will become the operator of the power plant in Poland.

However, as a minority shareholder, we need to know the terms of sale of energy on the market that will be adopted by the Polish government. If an investor has a minority interest, he must have guarantees, for example that the program will be completed instead of discontinued for various reasons.

said Ramany.

As he recalled, the guarantees in Britain come in the form of a contract for difference for the Hinkley Point CC plant or the Regulated Asset Base model for another power plant – Sizewell C. “The British government knows exactly what it pays and what it guarantees. In Poland such a discussion has yet to take place,” emphasized the vice president of EDF.

The American Westinghouse

Westinghouse and the US government have also made an offer to build a nuclear power plant in Poland. According to previous information, the Americans should present the FEED report on engineering and design work under the nuclear power program in Poland by the end of June. Bechtel is the partner of Westinghouse. In August, the Americans want to present a package of financial proposals to the Polish government.

kpc / PAP

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