Press release
Nuclearelectrica and Korea Hydro & Nuclear Power (KHNP) sign a Memorandum of Understanding (MoU) for cooperation in the field of nuclear fuel
Bucharest, June 28, 2023
S.N. Nuclearelectrica (SNN) and Korea Hydro & Nuclear Power (KHNP) signed on June 28th, 2023 a Memorandum of Understanding (MoU) for cooperation in the field of nuclear fuel as part of both parties’ strategy to further develop fuel processing and ensure the resilience of fuel production capabilities, for the long-term operation of current nuclear power plants and new energy production capacities, derived from their investment projects.
Starting December 2022, Nuclearelectrica owns the entire processing flow of the technical uranium concentrate to obtain the sinterable UO2 powder. Nuclearelectrica’s branch from Feldioara (Feldioara Uranium Concentrate Processing Factory) is currently operating at the nominal parameters. Nuclearelectrica has in plan projects for refurbishment and modernization of the production line, with the objective to expand its activity in the field of nuclear fuel management and services.
The Memorandum of Understanding records the intention of the parties to collaborate for studying, planning and development of activities for technical uranium concentrates processing, with the purpose of potentially qualifying SNN as a potential supplier of sinterable UO2 powder by KHNP, and the exploration of possibilities for collaboration in the area of nuclear fuel bundle fabrication.
“In December 2022, Nuclearelectrica completed the acquisition of certain assets in the technical uranium concentrate processing flow from CNU Feldioara Branch. The strategic decision to acquire part of the Feldioara branch was aimed at preserving and developing the integrated Romanian nuclear fuel cycle and ensure the resilience of the production capacities of Nuclearelectrica. In the context of expanding the production of Cernavoda NPP with two more units at the level of 2030/2031 it was crucial for us to ensure the security of production of fuel bundles and the optimal operation of FCN Pitești and Cernavoda NPP. By cooperating with highly experienced partners such as KHNP, we want to further develop our fuel management and production capabilities and be able to export our services. The implementation of this MoU gives us long-term strength and security and, I thank KHNP for taking our already consolidated partnership to a next level of excellence.” – Cosmin Ghita, Chief Executive Officer, Nuclearelectrica.
KHNP is a major player in the world of the CANDU nuclear fuel cycle, the owner and operator of the CANDU reactors in the Republic of Korea, has technological knowledge and experience in the production of advanced Candu 6 (37M) fuel bundles and is interested in diversifying its sources of uranium dioxide powder with natural isotopic composition for its needs.
“With Nuclearelectrica owning the entire processing flow of the technical uranium concentrate for obtaining the sinterable UO2 powder and Feldioara subsidiary (FPCU) being operational and functioning at nominal parameters, we intend to explore new possibilities of expanding the company’s activity in the nuclear fuel field. We aim at becoming a fully integrated, fully resilient, fully innovative nuclear producer and a reference point in region.” – Cosmin Ghita, Chief Executive Officer, Nuclearelectrica
About Nuclearelectrica
The National Company “Nuclearelectrica” SA is the national Romanian company which produces electricity, heat and nuclear fuel operating under the authority of the Romanian Ministry of Energy, with the Romanian state holding 82.49% of shares and other shareholders holding 17.50%, after the listing of the company at the stock exchange in 2013.
The NPP (CNE) Cernavoda branch operates two CANDU nuclear units, which are two of the most high-performance units among the more than 400 nuclear plants in the world, a nuclear fuel factory and is in the process of carrying out an integrated fuel cycle through the procurement of a uranium concentrate processing line, in order to support the long-term investment projects of the company.
Nuclearelectrica has a major role at national level, contributing by more than 18% of the nuclear energy in the total energy production and by 33% in the total CO2-free energy production in Romania.
About KHNP
KHNP (Korea Hydro & Nuclear Power Co., Ltd.), the largest electric company in the Republic of Korea, generates 29.6% of the nation’s domestic electricity. With a portfolio comprising 25 nuclear power plants, 21 hydro power plants, 16 small hydro power plants, 16 pumped storage power plants, 55 solar power plants, and 1 wind power plant, KHNP is committed to providing carbon-free energy solutions. Ongoing projects include the construction of three new nuclear power plant units in Korea and various international projects, such as the Barakah nuclear power project in the UAE and the El Dabaa nuclear power plant in Egypt. KHNP, a nuclear and renewal energy company, prioritizes safety, reliability, and environmental sustainability, ensuring a brighter future through innovation and collaboration in the energy sector.
