On the 25th (local time), Korea Hydro & Nuclear Power signed a memorandum of understanding and a contract to expand the supply of enriched uranium with Centrus Energy Corp., a U.S. nuclear fuel and services supplier, in Washington, D.C.
On the same day, KHNP signed a trilateral memorandum of understanding (MOU) with Centrus and POSCO INTERNATIONAL to jointly participate in the construction investment of Centrus's enrichment facility. Through this, they plan to promote domestic joint investment in the new centrifuge factory scheduled to begin construction in the U.S. and continue discussions to expand cooperation in the enrichment business. Additionally, KHNP has signed a contract to expand the supply volume of the enriched uranium supply agreement made with Centrus in February.
KHNP noted, "The importance of securing uranium resources in the international nuclear market is gaining attention," and said, "The supply volume expansion contract is expected to contribute to strengthening the stability of nuclear power plant fuel supply." They added, "The expansion of enrichment investment cooperation is expected to contribute to strengthening the Korea-U.S. nuclear cooperation and resource security alliance through the establishment of a strategic partnership with Centrus, which is pursuing the acquisition of enrichment capacity to rebuild the U.S. nuclear fuel industry."
Centrus is the only corporation to receive approval from the Nuclear Safety And Security Commission for the production of high-purity low-enriched uranium (HALEU) to be used as fuel for next-generation nuclear power plants and small modular reactors (SMRs). Centrus successfully achieved the initial production of HALEU with 20 kgU (kilograms of uranium) at its enrichment facility in Piketon, Ohio, in November 2023. In June of this year, it proved its annual production technology and capacity for HALEU by producing and delivering 900 kgU of HALEU to the U.S. Department of Energy.
KHNP said, "Through the expansion of enrichment investment cooperation with Centrus, we have secured the opportunity to stably procure fuel necessary not only for commercial nuclear power plants but also for future nuclear power plants."