“Czech Republic to build €7 billion worth of nuclear reactors in cooperation with South Korea’s KHNP“
Author: Vlastimil Vilímek | Prague on 18.07.2024
The Czech Republic has announced a historic investment in the construction of two new nuclear reactors.
The project, which is the largest in the country’s history at an estimated cost of €7 billion, will be carried out in partnership with South Korea’s Korea Hydro & Nuclear Power (KHNP).
This significant step aims to strengthen the Czech Republic’s energy security and stability, as well as support its transition to emission-free energy sources.
👊 Key points of the Dukovany project!
👉 Energy security: the new nuclear reactors will increase the Czech Republic’s energy self-sufficiency and reduce its dependence on fossil fuels.
👉Reduction of CO2 emissions: nuclear is a clean energy source with no carbon dioxide emissions. It is estimated that the new reactors could reduce the country’s CO2 emissions by more than 10 million tonnes per year.
👉Economic growth: The construction and operation of new nuclear reactors will create thousands of jobs, For example, the construction of the Flamanville 3 nuclear power plant in France is expected to create up to 25 000 jobs during the construction phase.
👉Stable energy supply: Nuclear power provides a stable and reliable source of energy for industry and households. France, for example, which gets about 70% of its electricity from nuclear power plants, experiences minor fluctuations.
👉Technological progress: cooperation with South Korea’s KHNP will bring the latest nuclear technology and know-how to the country, such as the Shin Kori plant, which uses advanced APR1400 reactor technology.
👉High cost: It is important to ensure effective cost management and financial transparency of the project. For example, the cost of building the Olkiluoto 3 nuclear power plant in Finland was around €11 billion, more than double the original budget.
👉Risk of delays: Large infrastructure projects often face delays due to technical complications, regulatory obstacles or changes in political priorities.
👉Nuclear waste: A safe and sustainable solution for the management of high-level radioactive waste must be ensured. Finland is planning to open the world’s first underground nuclear waste repository at Onkalo, estimated to cost more than €3 billion.
👉Security risks: Nuclear power plants require stringent security measures to minimise the risk of an accident or terrorist attack.
👉Public support: Nuclear power is often a controversial issue and can face opposition from the public or environmental groups. In Germany, public opposition led to the decision to shut down all nuclear power plants by 2022.
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Vlastimil 🙋♂️
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