KEPCO selected as top bidder for UK nuclear project

한전, 21조원 영국 원전 우선협상대상자 선정

Korea Electric Power Corporation is the preferred bidder for a project to build a nuclear power plant in Britain.
Celebrations will be brisk for the state run utility firm... as the next task at hand is negotiating with the consortium in charge before inking the deal.
Park Hee-jun explains further. South Korea's state-run energy firm KEPCO on Wednesday, was selected as the preferred bidder for the U.K.'s NuGeneration consortium,... a 19-billion dollar nuclear project billed as the largest nuclear plant in western Europe.
Toshiba, which holds a 60 percent stake in the NuGen consortium in charge of building the plant in the northwest of England,... chose KEPCO as its preferred bidder to build three nuclear facilities.
Toshiba has been suffering financially due to losses in its U.S. nuclear business, Westinghouse, earlier this year,... forcing it to withdraw from the overseas nuclear business

KEPCO has been competing with China General Nuclear for the contract.
But KEPCO's successful performance in the United Arab Emirates, along with China's poor cyber-security record, helped it beat the Chinese company.

According to KEPCO, the company will negotiate with Toshiba over the next few months, aiming to sign a deal sometime in the first half of next year with the approval of the British government.
With most details undecided at present, it may take as long as 2 to 3 years to finalize the deal.
If the deal goes ahead, it would be the second overseas nuclear project contract for KEPCO since the project in the UAE 8 years ago

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