Korea Hydro & Nuclear Power (KHNP) has designated 2017 as the first year to make a leap forward by expanding its global presence. Last year, KHNP signed a $600 million Operating Supporting Services Agreement (OSSA) for the Bakarah Nuclear Power Plant in the United Arab Emirates. Under the deal, KHNP will dispatch an annual average of about 200 workers to the UAE by 2030.
Under the stewardship of President Lee Kwan-sup, who took office last November, KHNP is seeking to explore overseas markets under the catchphrase “Rising to a Global Nuclear Power Company.”
A Korean consortium, led by KEPCO and KHNP, won the Bakarah Nuclear Power project in Bakarah, 270 km west of Abu Dhabi, in 2009. Under the project, starting with the first unit, which is to go into commercial service in May, the fourth unit will be dedicated by 2020.
KHNP will share the expertise the company has accumulated during the operation of nuclear power plants for about 40 years with the UAE . Furthermore, the two sides plan to lay a foundation for their joint entry into the nuclear power markets of third countries by establishing a long-term cooperative regime.
Last year, KHNP was awarded a project to build and operate a hydro power plant in Pakistan. The deal calls for implementing a $530 million 350-MW Athmuqam hydro power plant project. Under the agreement, KHNP will possess the rights to operate the plant about 210km northeast of Islamabad before it is transferred to the Pakistani government. Buoyed by last year’s overseas achievements, KHNP is accelerating efforts to expand its presence in the global nuclear power market. The World Nuclear Association forecast that about 170 nuclear power units will be built in such countries as Asia and Europe by 2020 thanks to responses to the Post-2020 Climate Change Regime and rising energy demand.
A view of the Barakah Nuclear Power Plant now under construction in the United Arab Emirates.
‘Safety is Top Priority’
Korea has 25 nuclear power units in operation, including the Shin Kori Unit 3, which was dedicated late last year. The nation has 150,000GW in power generation annually, about 31 percent of which depends on nuclear power. Of late, earthquakes have hit the Gyeongju area in succession, increasing misgivings over the safety of nuclear power plants. KHNP plans to strengthen the safety of Shin Kori Nuclear Power Unit 5 & 6 to make them strong enough to sustain an 8.0 earthquake .
KHNP President Lee Inaugurated as WANO President
KHNP President Lee Kwan-sup took office as the president of the World Association of Nuclear Operators (WANO) during the WANO meeting of the board of directors in Abu Dhabi, the United Arab Emirates on Jan. 26. WANO, established in 1989, has a membership of 126 companies from 35 countries. Headquartered in London, WANO has four regional centers in Tokyo, Paris, Atlanta and Moscow.
Lee will lead the international organization, steering its major decision making processes involving nuclear power industries around the world, including decisions on strengthening safety standards and other issues. WANO will hold the biennial general meeting in Gyeongji in October.