KHNP to invest in U.S. developer of small reactors

By Kim Joo-heon Posted : September 6, 2024, 15:57 Updated : September 6, 2024, 20:47
Bill Gates (center), founder of TerraPower, participates in the groundbreaking ceremony for a fourth-generation SMR demonstration complex held in Wyoming on June 11, 2024. Courtesy of SK Inc.
SEOUL, Sept. 6 (AJP) - The state-run Korea Hydro & Nuclear Power (KHNP) plans to invest about $40 million in TerraPower, a U.S. developer of next-generation small modular reactors (SMR). 

"We recently convened a board meeting and conditionally approved the plan to acquire shares in the U.S. nuclear power SMR developer," a KHNP official told AJP on Friday. She added that the company will proceed with the investment if no significant issues arise with TerraPower.

If the investment is finalized, it will mark the first time a Korean public utility has invested in the SMR developer. Among Korean companies, SK Group made a $250 million investment in TerraPower in 2023.

TerraPower, founded by Bill Gates in 2006, is recognized as a leading developer of sodium-cooled fast reactors (SFRs), a next-generation SMR technology. 

These reactors use fast neutrons to generate fission and employ liquid sodium as a coolant. SFRs are gaining attention as fourth-generation reactors due to their ability to recycle used nuclear fuel.

KHNP has been collaborating on a third-generation SMR with the Korea Atomic Energy Research Institute (KAERI).
Kim Joo-heon

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