Czech government approves financing for new nuclear units at Dukovany, final agreement with Korea to be signed in a week

At its meeting today, the Government of the Czech Republic approved the method of financing the construction of two new nuclear units at the Dukovany power plant. The key step is the takeover of 80 percent of the shares of the subsidiary Elektrárna Dukovany II, which is covering the project, from the semi-state company ČEZ. The state will thus gain majority control of the project, which aims to ensure the country's energy self-sufficiency and stability in the coming decades.

Prime Minister Petr Fiala (ODS) announced at a press conference after the government meeting that the final contract with the South Korean company KHNP, which was selected as the preferred supplier, will be signed in a week, on 7 May.

The decision for the state to take a majority stake is to ensure that the project is under direct government control, which is considered crucial for strategic infrastructure such as nuclear power plants. "Since the beginning of our government, we have been working to ensure energy security and self-sufficiency of the Czech Republic for future generations. Nuclear energy, especially the construction of new nuclear power plants, is strategically important for the future of the Czech Republic. The state's takeover of 80%'s stake in EDU II will enable the implementation and financing of this project," Fiala said.

According to experts, the construction of new units is necessary because the existing reactors at Dukovany are nearing the end of their useful life and the Czech Republic needs a stable source of energy that is not dependent on fossil fuels or imports.

KHNP, which has experience in building nuclear power plants in South Korea and abroad, was selected after a long tender process in which it won out over France's EDF and the US' Westinghouse. The final contract is expected to set out the terms of construction, timetable and budget, with the total cost of the project estimated at hundreds of billions of kronor.

Following the signing of the contract with KHNP, preparatory work for the construction of the new units is expected to start later this year. Construction could then begin in 2026, with the first unit expected to be operational around 2036.

After obtaining a license to operate a new nuclear power source from the State Nuclear Safety Authority under the Atomic Energy Act, EDU II will repay the repayable financial assistance to the state for 30 years.

gnews.cz - cik