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Urenco signs nuclear fuel deal with Korea’s KHNP
26 March 2024 Global NewsUrenco has signed a new contract for the long term supply of enrichment services with the operator of Korea’s nuclear power plants, helping to provide a secure, diverse and reliable supply of nuclear fuel to the country.
The agreement with the Korea Hydro & Nuclear Power company (KHNP), with whom Urenco has worked since 1993, will see us remain a major supplier for them well into the next decade.
A signing ceremony between the two parties took place on Friday, March 22 in Brussels, with KHNP’s President and CEO Prof. Dr. Jooho Whang and Urenco’s Chief Commercial Officer Laurent Odeh.
The ongoing relationship is a testament to nuclear providing low carbon, baseload energy 24/7 with a reliable supply of fuel to power the reactors.
KHNP owns and operates 28 nuclear power plants (including those scheduled to be completed), and together with hydroelectric power plants, supplies more than 34% of the country’s total electricity.
Welcoming the development, Laurent said:
“We are delighted to reaffirm our strong working relationship with KHNP and look forward to playing our part in helping to achieve its energy vision for Korea – as well as contributing to its climate change goals.
“Urenco is committed to meeting increased demand for enrichment services with flexible, resilient and sustainable operations.”
Dr Whang said:
"KHNP aims to build a number of new nuclear power plants at home and abroad, and cooperation with reliable partners such as Urenco will be very important as demand for nuclear power increases internationally.”
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About Urenco
Urenco is an international supplier of uranium enrichment services, fuel cycle products and related solutions with sustainability at the core of our business. Operating in a pivotal area of the nuclear fuel supply chain for over 50 years, Urenco understands the importance of energy security and facilitates the reliable delivery of low carbon electricity generation for consumers around the world.
With its head office in London, UK, Urenco’s global presence ensures diversity and security of supply for customers through enrichment facilities in Germany, the Netherlands, the UK and the USA. Through our technology and the expertise of our people, the Urenco Group provides safe, cost effective and reliable services, operating within a framework of high environmental, social and governance standards, complementing international safeguards.
Urenco is making a positive contribution to global climate change goals through our core business and we are committed to achieving net zero carbon emissions by 2040.
We are committed to continued investment in the responsible management of nuclear materials; innovation activities with clear sustainability benefits, such as nuclear medicine, industrial efficiency and research; and nurturing the next generation of scientists and engineers.
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