KHNP to buy enriched uranium from US energy firm Centrus
Posted : 2024-02-28 11:28
Updated : 2024-02-28 14:19
By Park Jae-hyuk
Korea Hydro & Nuclear Power (KHNP) signed a letter of intent (LOI) with Centrus Energy to ensure the stable supply of enriched uranium from the U.S. nuclear fuel and services provider, the state-run nuclear and hydroelectric plant operator said Wednesday.
They signed the non-binding agreement in Washington on Monday local time, following their signing of a memorandum of understanding last April.
"Through the signing of this LOI, both parties will engage in concrete discussions regarding stable nuclear fuel supply and plan to continue exploring business opportunities in the nuclear sector by expanding the future nuclear fuel supply chain," KHNP CEO Whang Joo-ho said.
The KHNP said the latest agreement outlines substantive business objectives to enhance uranium resource security and nuclear cooperation between the two parties.
"We aim to diversify the supply of enriched uranium used as nuclear fuel," it said in a press release.
"KHNP expects to strengthen nuclear cooperation between Korea and the United States by establishing strategic relationships with Centrus, which is working to re-establish a robust uranium enrichment capacity in the United States."
Centrus is the only American company that has obtained a production license from the U.S. Nuclear Regulatory Commission for high-assay, low-enriched uranium (HALEU), which is used as fuel for advanced reactors and small modular reactors.
In November, the company succeeded in the initial production of 20 kilograms of HALEU at its facility in Piketon, Ohio. The achievement demonstrated its technological and production capabilities for the U.S. Department of Energy.
The KHNP said it has opened the possibility of securing fuel for future reactors as well as for existing commercial reactors, as a result of cooperation with Centrus.
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