South Korea secures $800 million nuclear power plant refurbishment project in Romania, has China's nuclear power industry lost an opportunity? According to Yonhap News Agency, Seoul, December 19, 2024 - South Korea's Ministry of Industry, Trade and Resources announced on the 19th that a South Korean international consortium led by Korea Hydro & Nuclear Power Co., Ltd. ["Korea Hydro & Nuclear"] has won the refurbishment project for the Unit 1 facilities at the Cernavoda Nuclear Power Plant in Romania. On the same day, Korea Hydro & Nuclear, along with the three-party consortium consisting of Canada-based Candu Energy Inc. and Italy-based Ansaldo Nucleare S.p.A., signed the contract for the refurbishment of the Unit 1 facilities at the Cernavoda Nuclear Power Plant at the headquarters of Societatea Nationala Nuclearelectrica [SNN] in Bucharest. The Unit 1 reactor at the Cernavoda Nuclear Power Plant in Romania began commercial operation in 1996, and its initial operating license is set to expire in 2026. This refurbishment will involve the complete replacement of the reactor system and turbine generator system, as well as the construction of new radioactive waste storage facilities. As reported, Candu Energy, which built this nuclear power plant, is responsible for the nuclear reactor system; Ansaldo Nucleare is responsible for the design and procurement of the turbine system; Korea Hydro & Nuclear is responsible for all construction work, including the replacement of the main unit and auxiliary equipment, as well as the construction of other infrastructure such as radioactive waste storage facilities. The contract amount for the portion undertaken by Korea Hydro & Nuclear is 1.2 trillion Korean won [approximately 6 billion RMB]. Partners of Korea Hydro & Nuclear, including Doosan Heavy Industries & Construction, Hyundai Engineering & Construction, Samsung C&T Corporation, and KEPCO Engineering & Construction [KPS], will participate in the construction. The project officially commenced construction in February this year and is expected to last for 65 months. The Black Sea coastal country of Romania is committed to developing nuclear energy to meet future challenges. Small Modular Reactors [SMRs] are its direction for nuclear energy development. Given the deep-rooted presence of the United States in Romania, Romania is also a key partner in incorporating U.S. SMR technology into its national energy infrastructure. The United States believes that the successful deployment of small modular reactors in Romania will pave the way for wider regional adoption, significantly enhancing Europe's energy resilience and strategic autonomy. These goals are supported by U.S. investment and cooperation. Does China have no leverage in competing for nuclear power projects in Romania? Not necessarily. The Black Sea coastal countries of Romania and Bulgaria are vying for control over the "Middle Corridor" logistics, and much of these logistics originate from China. According to reports from the Kazakh Information Agency on December 6, a pilot route for transporting lithium batteries from China via the Trans-Caspian International Transport Route (Middle Corridor) was launched in December. Currently, Chinese enterprises have already taken on the construction of the deep-water port of Anaklia in Georgia, a Black Sea eastern shore country. Under the backdrop of China's accelerated overseas investment, China's Black Sea trade logistics will increase significantly in the future. Nuclear energy is a capital- and technology-intensive industry with long construction cycles, numerous participating companies, and extensive post-operation maintenance, forming a massive system. In a volatile geopolitical environment, the ultimate determinant of order placement is not technology, construction, or delivery time; it depends on the complex geopolitical games behind the scenes. The biggest key lies in whether the top-level designers of China National Nuclear Corporation can conceive a sufficiently grand system that harmonizes with China's great rise in the nuclear power industry and the hopes of the demand side. Come on, China's nuclear power industry! Original article: https://www.toutiao.com/article/1831336199404547/ Disclaimer: The article solely represents the author's personal views.