Korea Hydro & Nuclear Power, a state-run nuclear power plant operator, said on Friday that it submitted its bid for a nuclear power project launched by TeollisuudenVoima, a Finland-based utility company.
This marks the first time for a Korean power company to seek a nuclear power deal in Europe that has been traditionally dominated by advanced European players.
Korea Hydro will be competing to build TVO’s Olkiluoto-4 plant with KEPCO Engineering & Construction, Doosan Heavy Industries & Construction, KEPCO Nuclear Fuel, KEPCO Plant Service & Engineering, Samsung C&T and SK E&C in a consortium. Korea Hydro is a wholly owned subsidiary of KEPCO, Korea’s state-run electric-generation and resources conglomerate.
These companies are currently building a nuclear power plant in the United Arab Emirates, Korea Hydro noted.
The Korean consortium will be competing with France-based Areva and Japan-based Mitsubishi Heavy Industries for a pressurized water reactor. Toshiba and GE Hitachi are aiming to win the construction contract for a boiling water reactor.
TVO plans to launch the construction of the plant in 2015 after it selects a preferred bidder by the end of this year.
