Fortum has signed a memorandum of understanding (MoU) with Korea Hydro & Nuclear Energy Co., Ltd. (KHNP), the proprietor and operator of the South Korean nuclear fleet and a nuclear energy expertise provider, on Might 30, 2023.

The scope of the MoU covers cooperation and data trade relating to future nuclear energy vegetation, new reactor designs in addition to protected and environment friendly operation of present nuclear energy vegetation. This MoU extends the already established cooperation to a joint exploration of recent nuclear. The preliminary MoU between Fortum and KHNP was signed in 2018.  

“Fortum appreciates very a lot the long-term cooperation with KHNP. We consider the cooperation is helpful to each events,” says Fortum’s President and CEO Markus Rauramo.

“KHNP has world-class capabilities in nuclear new-build tasks, whereas Fortum is one of many largest nuclear corporations in northern Europe, and we hope to see each corporations turn out to be companions that develop collectively by way of mutual cooperation “, says KHNP’s Presidents and CEO Jooho Whang

Fortum continues to work for powering a thriving world by utilising its nuclear expertise and competences in shut cooperation with its companions to additional enhance the protection and reliability of nuclear energy vegetation across the globe.

This new MoU is said to Fortum’s Nuclear Feasibility Research launched in November 2022. Through the two-year programme, Fortum explores business, technological, and societal, together with political, authorized, and regulatory circumstances each for small modular reactors (SMR’s) and standard massive reactors in Finland and Sweden. The research additionally investigates new partnerships and enterprise fashions. Along with KHNP, Fortum has made cooperation agreements with British Rolls-Royce SMR, French EDF, and Finnish Outokumpu and Helen.