Korea buys into French enrichment plant
Korea Hydro and Nuclear Power (KHNP) will take a 2.5% stake in the Georges Besse II (GB-II) enrichment plant in France under an agreement signed with Areva. With previous agreements, Areva has now sold 10% of the plant, due to start up this year.
Korea Hydro and Nuclear Power (KHNP) will take a 2.5% stake in the Georges Besse II (GB-II) enrichment plant in France under an agreement signed with Areva.
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How the GB-II building could look on a sunny day |
KHNP operates 20 nuclear power reactors, generating about 40% of South Korea's electricity. The company said that it currently imports some 400 tonnes of enriched uranium annually. Financial details of KHNP's agreement with Areva were not disclosed.
In June 2008, GdF-Suez agreed to take a 5% holding in SET. This was followed by an agreement in March 2009 under which Japan's Kansai Electric Power Co and the trading company Sojitz will jointly take a 2.5% stake in SET.
Areva said that the agreements to buy into the GB-II plant "illustrate Areva's customers' interest in this major project and their desire to secure their enriched uranium supplies."
In May, French prime minister François Fillon and Lauvergeon inaugurated the first centrifuge cascade at the GB-II plant, which is scheduled to start operating later this year.
The €3 billion ($4.7 billion) GB-II plant is based on 'ultra centrifuge technology' and will replace Areva's existing Georges Besse plant at Tricastin, which uses energy-intensive gas diffusion technology. In April 2007, the new plant received a licence to operate at up to 8.2 million SWU per year, enriching uranium up to a maximum of 6%.
