Korea's KHNP keen on clean energy, nuclear in Poland

Korea Electric Power

07/04/2021 13:53

WARSAW, April 7 (Reuters) - Korea Hydro & Nuclear Power
(KHNP) is interested in developing clean energy projects in
Poland, including possibly taking a slice of Warsaw's
multi-billion nuclear plans, the company's chief executive said.
    Poland generates most of its electricity from coal, but
pressure from investors and many governments, as well as rising
costs for carbon emissions certificates have driven the country
to seek low and zero emission energy sources. 
    While the overall process is not carbon neutral, nuclear
generation produces zero emission electricity and Warsaw is
seeking a partner to build 6-9 gigawatts (GW) of nuclear energy
capacity and provide 49% equity financing for the project. 
    The cost of the Polish share, officials estimate would be 80
billion zlotys ($20.75 billion).
    Poland's most advanced talks on technology and financing are
with the United States, but it has also spoken to France.
    Jae-Hoon Chung, Chief executive at KHNP, a unit of Korea
Electric Power Corp (KEPCO)  015760.KS , told Reuters South
Korea could be interested too and plans to submit an offer.
    "We have many entities that can support this plan, such as
the Korean Export Credit Agency, KEXIM bank and the Korea Trade
Insurance Corporation, KSURE... I'm sure that our offer can
fully satisfy the Polish government's expectations," Chung said
of Poland's plan to find a partner. 
    Already KHNP is among potential bidders to build a nuclear
power plant in the neighbouring Czech Republic, but Chung said
Poland may face more challenges as it is developing nuclear for
the first time.
    He said he expected the tender in the Czech Republic to
start in December after security concerns were addressed.
 urn:newsml:reuters.com:*:nL8N2IP3LX
    KHNP, which does not invest in fossil fuels, is also
interested in the other alternatives Poland is pursuing
including wind energy and solar, he said.
    ($1 = 3.8549 zlotys)

 (Reporting by Agnieszka Barteczko; editing by Barbara Lewis)
 ((agnieszka.barteczko@thomsonreuters.com; +48226539700; Reuters
Messaging: agnieszka.barteczko.reuters.com@thomsonreuters.net))