Korea Hydro & Nuclear Power (KHNP) has decided to withdraw from the new nuclear power plant construction project being promoted by the Dutch government. Previously, KHNP also abandoned its bids for nuclear power projects in Sweden and Slovenia, indicating a withdrawal from the European market.
According to the nuclear power industry on the 19th, KHNP has decided not to participate in the second technical feasibility study related to the new nuclear plant construction in the Netherlands. With KHNP's withdrawal, the Dutch nuclear power project has become a two-horse race between the U.S. firm Westinghouse and the French power company Électricité de France S.A. (EDF). The Netherlands currently operates one nuclear reactor and plans to build two new reactors in the Borssele region of Zeeland Province by 2035.
KHNP has been actively involved in the Dutch nuclear power project. In 2023, the Ministry of Trade, Industry and Energy signed a memorandum of understanding (MOU) with the Dutch Ministry of Economic Affairs and Climate Policy to express its intention to secure the new nuclear plant contract. Following this, it commenced the first technical feasibility study last year and decided to participate in the bidding process.
However, it has been decided that KHNP will not participate in the second technical feasibility study. A KHNP representative noted, "We decided not to participate in the project to focus on projects such as the Czech Republic nuclear plant and Small Modular Reactor (SMR) initiatives." KHNP is expected to conclude negotiations related to the nuclear power project with a subsidiary of the Czech power company this month and finalize the main contract next month.
KHNP also abandoned its export of nuclear power to Sweden at the end of last year. While it was expected to target the European nuclear power market starting with the Czech Republic, many interpret this as a complete withdrawal. There is speculation within the nuclear industry that KHNP relinquished its opportunity to enter the European market during negotiations over intellectual property rights with Westinghouse, as it withdrew from the bidding contests for nuclear projects in three countries in Europe around January, before and after the conclusion of the intellectual property negotiations with Westinghouse.
KHNP has decided not to disclose the details of the agreements made with Westinghouse. An industry insider stated, "Even if Westinghouse secures overseas nuclear projects, it will clearly need support during the construction process. The cooperation of KHNP and Korea Electric Power Corporation will be necessary, and it seems they reached an agreement on the distribution method."