The Czech government has finalized its financing plan to construct two new reactors at Dukovany and is undergoing approval procedures with the European Commission (EU). Reports suggest that the funding plan includes provisions to construct the reactors with domestic resources, without financial support from South Korea. With the final contract with Korea Hydro and Nuclear Power Corporation (Korea Hydro and Nuclear Power Corporation) approaching in March next year, the resolution of the funding issue has increased the likelihood of contract signing.
According to the nuclear industry on the 23rd, the Czech Ministry of Finance has completed its funding plan for the construction of the Dukovany Units 5 and 6 and is awaiting EU approval. Countries within the European Union that share electricity grids must obtain approval from the European Commission before building power facilities. Last July, a consortium led by Korea Hydro and Nuclear Power Corporation was selected as the preferred negotiator for the construction of two reactors in Dukovany.
The funding required to build two reactors in Dukovany, Czech Republic, is about 24 trillion won. The Czech government plans to finance the construction of the Dukovany reactor independently, including providing loans at low interest rates. The European Commission will review whether there are conditions that violate antitrust regulations in the financing process regarding interest rate conditions and exchange rates before approving the funding plan.
It is reported that the funding plan does not include financial support from the South Korean government. There were suspicions raised last November, when Korea Hydro and Nuclear Power Corporation submitted their bidding documents for the Czech nuclear project along with a letter of intent to provide financial support, promising loans at low interest rates based on winning the contract for the reactor. At that time, Korea Hydro and Nuclear Power Corporation explained that it was a "non-binding letter of intent" indicating the possibility of reviewing financial support, and was not a commitment to provide support. Such documents are conventionally submitted when needed for large project bids.
If Korea Hydro and Nuclear Power Corporation finalizes the contract in March next year, Unit 5 of Dukovany is expected to be completed in 2036. Representatives from Korea Hydro and Nuclear Power Corporation and the Czech electricity authorities are coordinating the final contract terms based on the conditions presented in the bid. The Czech government may also allow Korea Hydro and Nuclear Power Corporation to undertake additional reactor construction in the Temelin area within the next 3 to 5 years.
Concerns have grown that the impeachment motion against President Yoon Suk-yeol could disrupt the export of nuclear reactors to the Czech Republic, but local sources believe that this political event will not significantly affect the final contract. According to local media, on the 20th (local time), Prime Minister Petr Fiala met with President Petr Pavel to discuss the construction of the Dukovany nuclear power plant, and it was reported that Korea Hydro and Nuclear Power Corporation plans to build new reactors.