South Korea has approved a plan to build two nuclear power plants, worth US$7bn, only two weeks after the country announced its intention to cut the share of nuclear in total power supply to 29% by 2035 (instead of 41% by 2030). The two reactors would have a capacity of 1,400 MW each and should be completed by late 2020, at a cost of Won 7,600bn (US$7bn).
South Korea is under public pressure to reduce nuclear use after the Fukushima disaster in Japan and a scandal over forged documents. Two reactors are currently shut for maintenance and a third one is awaiting a license extension after its 30-year license expired in November 2012. A fourth nuclear plant, Hanul-5, has just been taken offline due to a technical glitch (restart date is not clear), and only 19 nuclear plants out of 23 are currently operational. South Korea is then striving to avoid blackouts during peak hours. The country also aims to boost its domestic nuclear industry and to export reactors.
Searching for proven generation costs?
Then CAPEX & LCOE is the database you need. The module provides exclusive insights on both Capital Expenditure and Levelised Cost of Electricity.
Make informed decisions in terms of which technologies to invest in and where. In just a few clicks, access unique, premium data on both thermal and renewable power generation costs by technology and by country. Put our detailed, reliable information to use and benchmark your project.