Doosan Energy's Czech subsidiary Doosan Škoda Power is pushing for an initial public offering (IPO) on the Prague Stock Exchange.

On the 15th, industry sources reported that Doosan Škoda Power conducted an intention-to-float (ITF) announcement with local media and industry stakeholders in Prague. It plans to announce official investment guidelines, including the public offering price per share and schedule, on the 27th. This marks the first time a private power equipment manufacturing company has been listed on the Czech stock market.

Turbines are being assembled at the Doosan Skoda Power factory /Courtesy of Doosan Skoda Power

Doosan Škoda Power is a supplier of more than 540 steam turbines, including those for nuclear power plants, in Europe, including the Czech Republic. Recently, several announcements have been made regarding the construction of nuclear and gas combined-cycle power plants in Europe to secure energy security, increasing the possibility of new nuclear power projects in countries such as the United Kingdom. Doosan Škoda Power is expected to serve as a forward base for Team Korea in the European nuclear power market.

Accordingly, Doosan Energy previously made an investment in Doosan Škoda Power and has established plans to transfer generator technology. Once the transfer is completed, Doosan Škoda Power will be able to produce generators for small modular reactors (SMR) and combined cycle power plants starting in 2029.