Urenco signs new long-term fuel supply deal with KHNP

29 March 2024

Urenco has signed a new contract for the long-term supply of enrichment services with Korea Hydro & Nuclear Power (KHNP). Urenco, which has been supplying enriched uranium to KHNP since 1993, said the new contract "will further improve long-term fuel supply stability".

"KHNP aims to build a number of new nuclear power plants at home and abroad, and cooperation with reliable partners such as Urenco will be very important as demand for nuclear power increases internationally," said KHNP President Jooho Whang.

"We are delighted to reaffirm our strong working relationship with KHNP and look forward to playing our part in helping to achieve its energy vision for Korea – as well as contributing to its climate change goals," said Urenco Chief Commercial Officer Laurent Odeh. "Urenco is committed to meeting increased demand for enrichment services with flexible, resilient and sustainable operations."

Urenco is owned one third each by the UK government, the Dutch government, and the major German utilities. It has enrichment facilities in the UK, the Netherlands, Germany and the US. KHNP is operator of South Korea's nuclear power plants, which generate more than 34% of the country's total electricity.

The goal of the two companies is to continue long-term cooperation in nuclear fuel to adapt to the changing international economic cooperation environment, recognizing the importance of nuclear power plants to prepare for the climate change crisis and achieve net zero.

Image: The signing of the contract (courtesy of Urenco)

Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.