Westinghouse

According to Maeil Business Newspaper, Korea Electric Power Corporation is subject to about $2 billion per unit for eight large US nuclear reactors under talks with Westinghouse, with KHNP terms tying the technology fees and nuclear fuel costs to the Korea-type APR1400 for two units. The arrangement could limit US orders and influence design participation, while separate projects include a Texas gas-fired plant with $22.3 billion investment and up to $45.4 billion potential recoveries; the two nations plan to assess each project independently under the Korea-US Nuclear Framework.

According to Maeil Business Newspaper, Korea is pursuing the acquisition of 5-10% of Westinghouse at a price 10% below the IPO offer price, while securing voting rights but not a board nomination, as part of U.S.-Korea discussions. The plan includes a roughly 120 billion won investment from a 200 billion won U.S.-Korea investment fund and a stance to treat each U.S. nuclear project individually; the exact stake Korea can directly sell post-IPO will depend on Westinghouse’s valuation, with Brookfield and Cameco as major shareholders involved.