According to the Yonhap News Agency, the Korea Electric Power Corporation (Kepco) revealed recently that it has approached the Turkish government to propose the building of four reactors with a total power output of 5.6 GW.
The declaration followed a meeting on January 30, 2023, between Kepco’s CEO, Cheong Seung-il, and Turkey’s Energy Minister, Fatih Donmez.
As per a press release from Kepco, Cheong and Donmez addressed the commercial terms under which a potential plant would operate, how long it would take to build it, and where it might be located.
The release said that Kepco plans to submit a preliminary proposal to conduct a project feasibility study jointly with Turkey, which is expected to derive the optimal business promotion plan.
The two parties have been in talks for some time regarding this particular proposal, which is estimated to be worth $33 billion. Apparently, the Turkish government requested a proposal from Kepco in December last year.
The idea is part of Korea’s concerted drive to broaden export markets for its infrastructure and engineering firms.
Kepco is attempting to leverage its effective execution of the Barakah nuclear power plant in the UAE to persuade other countries to choose the APR1400 reactor. The company claims to be the only one to have finished a plant on time and that too within budget.
Turkey is currently growing its nuclear sector. It is well to be noted that Russia is now building four VVER-1200 reactors at Akkuyu on its Mediterranean coast, and another Russian construction is being proposed on the Black Sea coast.
A joint venture between France’s Framatome and Japan’s Mitsubishi Heavy Industries, as well as American nuclear engineer Westinghouse with China’s State Nuclear Power Technology Corporation, is also contending for a portion of future nuclear facilities.