Korea Hydro & Nuclear Power Co., Ltd.
Native name
한국수력원자력 주식회사
Industry
Founded2001 (2001)
FounderKorea Electric Power Corporation
Headquarters
Gyeongju, North Gyeongsang
,
South Korea
Key people
Whang Joo-ho (President and CEO)
ProductsElectricity
Revenue₩10.4 trillion
₩0.6 trillion
Total assets₩62 trillion
Total equity₩26 trillion
Number of employees
12,551 (2020)
ParentKEPCO
Websitewww.khnp.co.kr

Korea Hydro & Nuclear Power (KHNP; Korean: 한국수력원자력) is a subsidiary of the Korea Electric Power Corporation (KEPCO). It operates large nuclear and hydroelectric plants in South Korea, which are responsible for about 27 percent of the country's electric power.

In December 2020, KHNP operated 24 nuclear power plants, 37 hydroelectric plants, 16 pumped-storage power plants, and 32 renewable power plants. Its total facility capacity was 28,607 MW, with a total generation capacity of 164,613 GWh.

History

KHNP was established in 2001 as part of a general restructuring at KEPCO,[1] which opened its first nuclear plant at Kori in Busan in 1977. Commercial operation at Kori nuclear #1 began in 1978.

Timeline

Before separation from KEPCO:

  • 1978: Commercial operation of Kori 1 began.
  • 1983: Commercial operation of Wolsong 1 and Kori 2 began.
  • 1985: Commercial operation of Kori 3 began.
  • 1986: Commercial operation of Kori 4 and Hanbit 1 began.
  • 1987: Commercial operation of Hanbit 2 began.
  • 1988: Commercial operation of Hanul 1 began.
  • 1989: Commercial operation of Hanul 2 began.
  • 1995: Commercial operation of Hanbit 3 began.
  • 1996: Commercial operation of Hanbit 4 began.
  • 1997: Commercial operation of Wolsong 2 began.
  • 1998: Commercial operation of Wolsong 3 and Hanul 3 (Korea’s first nuclear power plant) began.
  • 1999: Commercial operation of Hanul 4 and Wolsong 4 began.
  • 2001: KHNP began.

After separation from KEPCO:

  • 2002: Commercial operation of Hanbit 5 and 6; APR-1400 reactor was developed.
  • 2005: Completion of Hanul 5 and 6 and the renewable-energy Kori Wind Power Plant and Yeonggwang Solar Park
  • 2007: Continued operation of Kori 1 approved.
  • 2010: Shin-Kori 3 reactor (first APR-1400 application) installed.
  • 2011: Commercial operation of Shin-Kori 1 reactor (first OPR1000 application) began.
  • 2012: Commercial operation of Shin-Kori 2 and Shin-Wolsong 1 began.
  • 2013: First Korean-technology safety analysis of a heavy water reactor licensed.
  • 2014: Korean APR+ nuclear power plant stand design approved.
  • 2015: Continued operation of Wolsong 1 approved; commercial operation of Shin-Wolsong 2 began.
  • 2016: Head office moved to Gyeongju; commercial operation of Shin-Kori 3 (first APR-1400 application) began.
  • 2017: Completed Noeul Fuel Cell and Kori Photovoltaic Power Plant; retired Kori 1.
  • 2018: Chameliya Khola Hydropower Station in Nepal completed.
  • 2019: Photovoltaic power station at the Samnangjin Pumped-Storage Power Plant completed; commercial operation of Shin-kori 4 began.

Operations

The company operates internationally, with offices in New York, Washington, Paris, Tokyo and Prague. The current CEO is Chung Jaehoon (Korean: 정재훈).[2] In 2020, the company had 12,551 employees and revenue of ₩10.4 trillion[3] (about US$9 billion). Its international credit ratings are Aa2 stable/AA stable/AA- stable (Moody's/S&P/Fitch).[4] The chief executive officer is Whang Joo-ho, who began his three-year term in 2022.[5][6]

Power plants

Nuclear sites:[7]

Hydroelectric sites:[7]

Renewable-energy sites:[8]

  • Hanbit Solar Park 1, 2 (3 MW), at the Hanbit site
  • Kori Wind Power (0.75 MW), at the Kori site
  • Hanbit Solar Park 3 (11 MW), at the Hanbit site
  • Yecheon Solar Power Plant (2 MW), in the Yecheon pumped-storage power plant
  • Kori Solar Power Plant (5 MW), at the Kori site
  • KHNP's Farming Solar Power Plant (73 kW), at the Cheongpyeong Hydropower Station
  • Gyeonggi Fuel Cell Power Plant (58.8 MW), Gveonggi-do, Hwaseong-si
  • Noeul Fuel Cell Power Plant (20 MW), in World Cup Park, Sangam-dong, Mapo-gu, Seoul
  • Busan Fuel Cell Power Plant (30.8 MW), in a group cogeneration complex in Haeundae-gu, Busan

Barakah nuclear power plant

On December 27, 2009, Emirates Nuclear Energy Corporation (ENEC) and KEPCO agreed to build four 1400 MWe Korean (APR-1400) nuclear power units in Barakah, United Arab Emirates. KEPCO carried out the project in partnership with KHNP, KEPCO E&C, KEPCO NF, Hyundai E&C, and Samsung C&T. In accordance with its joint project management agreement with KEPCO, KHNP provided manpower and technical support for construction management, in addition to training and licensing support.[9]

KHNP sent skilled nuclear-power-plant operating personnel and provided services requested by ENEC under an operating support services agreement until the agreement ended on July 20, 2016. KHNP will continue to assign an average of 200 operators and engineers to the BNPP annually and provide requested services for 10 years after the completion of BNPP Unit 4.[10] A consortium of KHNP and Korea Electric Power Corporation Plant Service & Engineering Co. (KEPCO KPS) signed a five-year maintenance contract for the BNPP in June 2019.[11]

Diversification

KHNP plans to expand its new and renewable energy production capacity to 7.6 GW by 2030. The company is installing the world’s largest floating photovoltaic power-generation facility (300MW) on the Saemangeum Seawall in North Jeolla Province. With the city of Ulsan and Hyundai Motor Company, it installed a 6 MW photovoltaic power-generation facility. In 2019 KHNP completed a 19.2 MW onshore wind-power-generation complex in 2019, powering about 16,000 households at the foot of Noraesan mountain near its pumped-storage plant in Cheonsong, Syeongsangbuk-do Province.[12]

New markets

In Romania, KHNP implementing a technical-service project for a radioactive waste repository. The company also strengthened cooperation with nuclear power plant operators in the Czech Republic, Poland, Kazakhstan, and Bulgaria.[13][14]

Overseas renewable energy

KHNP announced in September 2020 that it had joined a consortium with several South Korean financial institutions. The consortium agreed to acquire 49.9 percent of four large wind farms in the United States.[15]

That year, the company joined Korea Overseas Infrastructure & Urban Development Corp (KIND), S Energy, and Hanyang Electric at the World Trade Center Seoul in a consortium to invest in a solar-power project in Chile. The consortium is promoting a 6.6MW plant in Guadalupe and a 6.4MW plant in María Pinto, both near Santiago, the capital of Chile. KHNP intended to complete construction in 2021 and operate the two plants for 25 years.[16]

US reactor

The US Nuclear Regulatory Commission (NRC) certified KEPCO's APR-1400 in 2019, saying that the NRC found the design fully meeting US safety requirements. According to KEPCO, the APR-1400 was the first "non-US type" reactor design certified by the NRC. In October 2017, European Utility Requirements (an advisory group for European utilities) had approved the APR-1400 reactor design.[17]

See also

Notes

  1. ↑ "History". KHNP English-language site. Archived from the original on 2019-10-11. Retrieved November 19, 2014.
  2. ↑ "History of Executives". KHNP English-language site. Archived from the original on 2016-02-14. Retrieved November 19, 2014.
  3. ↑ "Financial Statements". KHNP English-language site. Archived from the original on 2014-10-20. Retrieved November 19, 2014.
  4. ↑ "Global Credit Ratings". KHNP English-language site. Archived from the original on 2019-10-21. Retrieved October 11, 2019.
  5. ↑ Lee Kyung-min (23 August 2022). "New KHNP CEO vows extensive support for nuclear systems export". The Korea Times. Dongwha Enterprise. Retrieved 17 June 2023.
  6. ↑ Michael Amdi Madsen (16 December 2022). "IAEA Chief in Korea: Nuclear Energy, Safety and Safeguards". International Atomic Energy Agency. Retrieved 17 June 2023.
  7. 1 2 "KHNP is: Overview". KHNP English-language site. Archived from the original on 2014-10-19. Retrieved November 19, 2014.
  8. ↑ "Status of Generation Facilities". Korea Hydro & Nuclear Power. Archived from the original on 2021-04-20.
  9. ↑ KHNP Eng Website
  10. ↑ (Expatnetwork) ENEC signs support services deal with Korea firm
  11. ↑ (PURSE) Korea wins smaller-than-expected maintenance deal for UAE nuclear plant (June 24, 2019)
  12. ↑ (Newsworld) KHNP Spearheads New and Renewable Energy Initiatives (Apr 23, 2020)
  13. ↑ (Business Korea) KHNP CEO Visits Czech Republic to Win a Nuclear Power Plant Order (Sep 7, 2020 )
  14. ↑ (Business Korea) KHNP Aiming for New Nuclear Power Plant Contracts Overseas (July 15, 2020)
  15. ↑ (Business Korea) KHNP to Enter U.S. Renewable Energy Market (Sep 2, 2020)
  16. ↑ (Business Korea) KHNP to Enter South American Solar Power Market (Sep 28, 2020)
  17. ↑ (WNN) Korean reactor design certified for use in USA (Aug 27, 2019)
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