US EditionA Czech deal to build nuclear reactors worth $18 billion is unblocked after a court clears the way
- On Wednesday, an appeals court lifted a lower court’s block on a contract enabling Czechia to proceed with constructing a minimum of two nuclear units in partnership with South Korea’s KHNP.
- This came after France's EDF filed a legal challenge, following the Czech anti-monopoly authority’s rejection of its complaint regarding KHNP’s successful bid in last year’s tender.
- The reactors will be constructed at the Dukovany power plant to complement its four 510-megawatt units from the 1980s as part of Czechia's plan to reduce fossil fuel use.
- The project’s total expenditure is projected to exceed 400 billion koruna , with the initial reactor slated to begin trial operations around 2036 and the second one scheduled to follow roughly two years afterward.
- The court ruling allows the contract between CEZ, majority-owned by the Czech state, and KHNP to proceed, enabling the country to advance its nuclear energy expansion.
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58 Articles
The project to build a new nuclear power plant in Krško, JEK 2, has only a third of the chance of being economically viable, according to the Youth for Climate Justice in a study of the project's economic feasibility, but they also add that it makes sense to continue the project for now.
The first one will in principle be ready by 2036 and will be built at a cost equivalent to 3,200 billion forints.
The offer of the South Korean company KHNP for the completion of the nuclear power units in Dukovany is really good and the government could not afford to miss the opportunity to finally sign the contracts after the decision of the Supreme Administrative Court (NSS). Minister of Industry and Trade Lukáš Vlček (STAN) told Novosti. The NSS has canceled the preliminary measure that prohibited the signing of the contract.
Czechs sign $18 billion deal with South Korean firm to build nuclear reactors as court gives go-ahead. Check details
The Czech Republic's EDU II and South Korea's KHNP finalised an $18 billion deal for two new nuclear reactors after a court lifted an injunction. This marks the largest procurement deal in Czech history and supports the country's energy transition.
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