Overview

• The $18.6 billion contract for KHNP to build two nuclear reactors in the Czech Republic is temporarily delayed due to a court injunction filed by EDF, a losing bidder.
• The Czech Cabinet has reaffirmed its approval of the project, emphasizing its importance for national energy security and decarbonization efforts.
• KHNP CEO Whang Joo-ho expressed confidence that the delay will be resolved shortly, with preparations for construction already underway.
• The KHNP proposal offers up to 10% lower electricity costs compared to rival bids, leveraging decades of nuclear construction experience and robust supply chains.
• The two Dukovany reactors are expected to begin trial operations in 2036 and 2038, aligning with the Czech Republic's goal to phase out coal and increase nuclear power's share of electricity production from 40% to over 50%.