Korea Hydro & Nuclear Power (KHNP) intends to build the first nuclear power plant in Poland. It assumes 40% participation of Polish companies in the construction of the first unit – if its bid is accepted. The group is interested in a cooperation package with Poland also in other sectors than nuclear energy.

KHNP operates large nuclear and hydroelectric power plants in South Korea. They account for about 27 % of the country’s total electricity supply. In its technical and price offer for the construction of nuclear power plants in Poland, the corporation envisaged the involvement of Polish companies.

“In the construction of the first unit, we expect 40% participation of Polish companies, and as much as 70% in the construction of subsequent units. In order to achieve this goal, we are trying to consult Polish companies all the time, including Korean companies operating in Poland, for which Polish firms may be suppliers”. said KHNP deputy chairman Yoh-Shik Nam.

The deputy chairman added that KHNP is also trying to engage Korean companies, however, he did not specify their participation today.

“Korea and Poland have good cooperation not only in the field of the economy but also in other areas. By submitting the offer, we have prepared a package of proposals for cooperation also outside the nuclear power area”, noted Yoh-Shik Nam. Additionally, the company is ready to take a certain equity stake in the Polish nuclear power plant project if its offer be selected.

“The Polish government is looking for a shareholder who will take up 40% in the nuclear project. KHNP will cover part of the financial commitment in the form of taking up shares. The remaining part of the financing may be allocated by banks and other financial institutions”, said the KHNP president.

The total implementation time of the project is about 10 years, The first five years will be taken up by designing and acquiring permits. The following years will be devoted to the construction itself.

Arkadiusz Słomczyński