The announcement of the winner and signing of a JV will be in 2019.
The Saudi Arabian government has shortlisted the South Korean state-held energy company Korea Electric Power Corporation (KEPCO) amongst other bidders from the United States, France, China and Russia to bid for its nuclear project. The winner will be announced in 2019 and a joint venture for the construction of the facility will be signed in 2019.
Saudi Arabia aims at diversifying its energy mix so that it could export more crude oil instead of burning it to generate electricity.
The kingdom plans to build up to 17.6 GW of nuclear capacity (i.e. around 16 reactors) by 2032. The first nuclear plant is expected to be built by 2027 and will have two reactors with a combined installed capacity between 2 GW and 3.2 GW.
This article was originally publishes by Enerdata.
Do you know more about this story? Contact us anonymously through this link.