The possibility of Korea Hydro & Nuclear Power (KHNP) entering the Bulgarian nuclear power plant market has increased following the United Arab Emirates.
According to KHNP on Dec. 20, KHNP was selected as one of three strategic investor candidates for Bulgaria’s second nuclear power plant project, the Belene nuclear power plant construction project. The three companies - KHNP, Russia's Rosatom and CNNC, China's state-run nuclear power plant company, were selected as candidates.
"The companies selected are world leaders in the field of nuclear energy," a Bulgarian energy ministry official said. "We selected them based on their experience, financial stability and credit ratings."
Bulgaria's energy ministry plans to allow candidates to submit "binding offers" to the ministry by the end of next month.
Meanwhile, KHNP has started to export nuclear power plants in earnest by entering the Barakah nuclear power plant project in UAE. The Barakah nuclear power plant will be made with "APR1400," a Korean-style next-generation nuclear power plant like the Shin Kori 3 and 4 reactors.
In June, it won a project to refurbish the nuclear power plant in Barakah, completing a full-course cooperation from building nuclear power plants to designing, operating and repairing them.
If it enters the nuclear power plant business in Bulgaria, it will be an opportunity to enter the European market.