Latest news with #KoreaHydro&NuclearPower
UPI
7 days ago
- Business
- UPI
KHNP signs $18 billion nuclear deal with Czech Republic
Korea Hydro & Nuclear Power signed a deal to build two nuclear reactors in the Czech Republic. File Photo by Martin Divisek/EPA-EFE SEOUL, June 5 (UPI) -- Korea Hydro & Nuclear Power announced Thursday that it had signed a deal to build two nuclear reactors in the Czech Republic, worth at least $18 billion. Under the agreement, KHNP will hold a kick-off meeting with its Czech partners soon to start construction of two 1,000-megawatt units in Dukovany, about 120 miles southeast of Prague. Construction is scheduled to begin in 2029 and finish by 2037. Other than KHNP, corporations such as Daewoo E&C and Doosan Enerbility joined the South Korean consortium. KHNP also noted that if the Czech Republic moves forward with plans to build two additional reactors at a separate site, the company may have an opportunity to secure another contract in the European country. "This contract is a testament to the world-class technology and reliability of Korea's nuclear industry," KHNP CEO Whang Joo-ho said in a statement. "We will continue to enhance the global competitiveness of our nuclear ecosystem and deliver safe, sustainable energy for future generations," he added. Last July, the Czech Republic named the South Korean consortium headed by KHNP as the preferred bidder. It marked KHNP's first major project in Europe. The contract signing was originally set for early May, but was delayed by a Czech court, which issued an injunction due to the complaint from the losing bidder, France's EDF. Westinghouse of the United States initially joined the tender but withdrew early, leaving KHNP and EDF in a head-to-head contest. However, the Zech Supreme Administrative Court overturned the injunction, clearing the way for KHNP to finalize the deal.
Yahoo
02-06-2025
- Business
- Yahoo
Oklo (NYSE:OKLO) Announces US$400 Million Follow-on Equity Offering
In a remarkable turn, Oklo witnessed a 101% surge over the past month, which seems largely influenced by the company's active strategic maneuvers and financial initiatives. The announcement of a $400 million Follow-on Equity Offering on June 2 likely played a role, signaling strong investor interest and confidence. Additionally, Oklo's collaboration with Korea Hydro & Nuclear Power through a Memorandum of Understanding on developing nuclear technology further strengthened market sentiment. These corporate developments coincided with a largely positive market trend, as the broader market saw significant gains over the same period. Be aware that Oklo is showing 4 risks in our investment analysis and 1 of those is a bit unpleasant. Uncover 19 companies that survived and thrived after COVID and have the right ingredients to survive Trump's tariffs. Oklo's shares have experienced a very large total return over the last year, reflecting a strong boost in investor confidence amid several corporate developments. This performance surpassed both the US Market, which returned 11.5%, and the US Electric Utilities industry, which returned 13.4%. However, detailed analysis shows that Oklo remains unprofitable with zero revenue and a net loss exceeding US$73.62 million in FY 2024. Despite these financial challenges, the company has seen substantial share price appreciation, potentially driven by its collaborations, equity offerings, and infrastructure projects highlighted in recent news. The recent significant price movement indicates investor enthusiasm potentially tied to the company's strategic efforts, including the $400 million Follow-on Equity Offering and partnerships with KHNP. However, Oklo's current share price remains closely aligned with consensus analyst price targets, indicating potentially limited upside unless further substantial progress is made in its projects and collaborations. With forecasts suggesting continued unprofitability and stagnation in revenue growth, the market seems to be betting on the long-term innovative potential rather than immediate financial turnaround. The company's current Price-To-Book Ratio, noted to be expensive, underscores this optimism, albeit with specific risks associated with the anticipated financial performance. Explore historical data to track Oklo's performance over time in our past results report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:OKLO. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Yahoo
27-05-2025
- Business
- Yahoo
Oklo nuclear project, US Steel–Nippon deal, AMC record revenue
Josh Lipton takes a look at today's top stories in this segment of Market Minute. Oklo (OKLO) is rising as it announces it will collaborate with Korea Hydro & Nuclear Power on a nuclear project. US Steel (X) is rising as Nippon Steel (NPSCY) is expected to close the acquisition of the company soon. AMC (AMC) is soaring after announcing record-breaking Memorial Day weekend revenue. Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute. It's time for Yahoo! Finance's Market Minute. Stocks eyeing a comeback from Friday's losses. Major indices rising amid improved prospects for a US-EU trade agreement. O'Clos shares rising as it announces it will cooperate with Korea Hydro & Nuclear Power on an advanced nuclear project. O'Clos to collaborate on the development of its nuclear technology. And US Steel getting a lift as Japan's Nippon Steel is expected to close its acquisition of the company for $55 per share. That's according to CNBC. This comes after President Donald Trump voiced his support on Friday on the quote, "planned partnership". Trump adding that the deal adds $14 billion to the US economy. And a win for Hollywood shares of AMC, they're soaring after announcing a record-breaking Memorial Day holiday weekend, saying it hit its third biggest revenue mark over a 5-day period in more than a decade. The record setting Memorial Day box office being driven by the opening of Lilo & Stitch and Mission: Impossible - The Final Reckoning. Sign in to access your portfolio
Korea Herald
09-05-2025
- Business
- Korea Herald
KHNP vows cost-effective nuclear build, eyes European markets
PRAGUE — Korea Hydro & Nuclear Power's 50 years of experience and proven supply chain give it a competitive edge over rivals in securing the Czech Republic's $18 billion nuclear project, President and CEO Whang Joo-ho said Thursday. Although the contract, originally set to be signed this week, has been temporarily delayed by a court injunction following a legal challenge from a losing bidder, Whang emphasized that KHNP is fully prepared to move forward once legal hurdles are cleared. 'While there has been a slight delay, we believe things will progress smoothly, especially since the Czech Cabinet has already approved all aspects of the contract,' Whang told Korean reporters in Prague. CEZ, the Czech Republic's state-run utility, revealed that KHNP's proposal would enable electricity to be delivered at a cost up to 10 percent lower than that of rival bids from France's EDF and the US-based Westinghouse. Whang attributed this competitiveness to KHNP's long-standing supply networks and decades of nuclear construction expertise. 'We not only have the materials for the 1,000 megawatt reactors, but also proven supply chains developed through past projects, giving us confidence that we can deliver at the promised cost,' Whang said. The CEO also noted that rival companies have often faced significant challenges, with project timelines extending and budgets ballooning to two or three times the original estimates. 'We've carefully analyzed these factors and believe we're offering the best possible package,' he said. On concerns of possible cost overruns, Hwang drew a distinction between the Czech project and past challenges faced in the UAE's Barakah project, explaining that any delays there were due to client-added work, not KHNP's failures. 'In the nuclear industry, Korea is widely regarded as one of the rare players capable of consistently delivering on time and within budget,' he emphasized. When asked whether KHNP's bid for the Czech Dukovany nuclear project offers stronger cost efficiency compared to its past work on the UAE's Barakah reactors, Whang said the Czech contract reflects tighter controls and clear risk-sharing terms. Domestically, Korea's Shin Hanul 3 and 4 reactors cost just under 6.5 trillion won ($4.6 billion) each for 1.4 gigawatt units. The Czech project's 1.0 GW reactors, though not directly comparable, are expected to come in at a lower cost. Whang pointed out that the Czech contract is set at a relatively higher price compared to domestic projects due to overseas risk factors, but KHNP has worked to fully hedge those risks through detailed negotiations with CEZ. For maximum profitability, Whang emphasized leveraging Korean firms' proven supply chains. But where local Czech products or services offer better value, KHNP will work with them. 'The Czech Republic has a strong manufacturing base, and we're helping local partners quickly build the qualifications needed for nuclear work,' Whang said. CEZ has warned that a delay of several months could result in losses of hundreds of billions of dollars. When asked if KHNP would face similar losses, Whang explained, 'If we had signed yesterday, we could have fully mobilized and accounted for our workforce. Now, with the delay, we still need to retain certain staff, which leads to some losses — but relative to the overall scale of the project, it's not significant.' Looking beyond the Czech Republic, Hwang described Europe's nuclear contract landscape as a 'battlefield,' emphasizing that trying to break into highly complex legal environments through competitive bidding can drain KHNP's resources. Instead, he said the company is focusing on less legally burdensome markets like Norway and Sweden, where strong local developers work closely with governments to preselect nuclear sites and actively invite SMR suppliers, making them promising destinations for KHNP's small modular reactors.
Korea Herald
08-05-2025
- Business
- Korea Herald
South Korea, Czech Republic reaffirm $18 billion nuclear deal
PRAGUE -- South Korea and the Czech Republic reaffirmed their commitment on Wednesday to advance their $18 billion nuclear power plant construction deal and expand cooperation across key industrial sectors, despite a court ruling that temporarily delayed the contract signing. 'While today's unforeseen circumstances prevented us from finalizing the main contract, I feel confident that, like the saying 'the ground hardens after rain,' this shared challenge has only strengthened the trust between our two countries,' South Korean Industry Minister Ahn Duk-geun said during a press briefing Wednesday. The contract between Korea Hydro & Nuclear Power and Elektrarna Dukovany II (Edu II), a subsidiary of the Czech state utility CEZ, was originally scheduled to be signed that day. However, it was delayed after a court injunction was granted in response to a legal challenge by French energy company EDF, the unsuccessful bidder in the tender. During the press event, Ahn emphasized that the Dukovany nuclear project could serve as a springboard for the two countries to jointly expand into third-country markets. Currently, Korea is constructing two new nuclear reactors — the Shin Hanul 3 and 4 — domestically. With the additional two reactors planned for the Czech Republic and ongoing talks with other countries, Korea's domestic ecosystem alone will not be sufficient to meet all demand, the minister explained. 'That is why we aim to leverage Czech assets — for example, turbine manufacturers like Doosan Skoda Power — and grow together as strategic partners in the global market,' Ahn said. While acknowledging the unexpected delay caused by the Brno Regional Court's issuance of a preliminary injunction on Tuesday, Ahn stressed that it is purely 'procedural' and not indicative of any risk of cancellation. 'Once we clarify the facts to the Czech public, I believe this could become a positive turning point, especially for future projects like Temelin,' he said. 'Our goal is to present Korea as the most reliable long-term partner for 50, 60 even 100-year nuclear projects.' Later in the day, Ahn paid courtesy visits to Czech Prime Minister Petr Fiala and Senate President Milos Vystrcil, accompanied by Korea's special delegation. During the meetings, the two sides agreed to strengthen their strategic partnership not only in nuclear energy but also in advanced manufacturing, supply chains, energy, high technology and applied sciences. Among the 14 agreements and memoranda of understanding signed by the two governments and companies on Wednesday were a Korea-Czech battery cooperation MOU and a commitment to strengthen joint responses to the forthcoming EU Battery Regulation. The Korea Automotive Technology Institute and the Korea Institute for Robot Industry Advancement also signed two letters of agreement with Czech technical universities to establish joint industrial cooperation centers, expanding the scope of collaboration beyond nuclear energy to other advanced industries. Meanwhile, during a Cabinet meeting in the afternoon, the Czech government approved that the new nuclear plant construction contract can be signed as soon as the court injunction is lifted.
