Overland Park, KS (GLOBE NEWSWIRE) - Utilities Service Alliance, Inc. (USA) and Korea’s largest electric power generation company, Korea Hydro & Nuclear Power Co., Ltd. (KHNP), signed an agreement Dec. 3 to work mutually in support of USA objectives and services with utility peers and to help promote industry goodwill. USA and KHNP will cooperate in the development of innovative solutions to enhance nuclear power plant safety and performance within the USA fleet and in the broader international commercial nuclear power industry.
Through this landmark agreement, KHNP will work with USA, their subject matter experts and key plant leadership from leading U.S. commercial nuclear operators. More importantly, the agreement provides a platform for KHNP and USA to exchange the latest safety practices and innovations to improve plant performance.
“Not only does this agreement expand engagement and opportunities for KHNP within USA, it formalizes our collaboration on safety practices and performance improvement – something from which the entire industry may benefit,” said USA President and Chief Executive Officer John Christensen. “USA and its members are also pleased to be taking actionable steps in advancing US-Korean commercial nuclear innovation and market cooperation.”
Under the agreement, KHNP will share its operating expertise from its fleet of 24 operating reactors and its O&M technologies, equipment and services that the company has established through its nearly 40 years of developing and operating nuclear power plants.
“With our new relationship, USA members will also be able to share their unique industry position and 25 years of experience in leveraging their proven business and supplier partnership programs with KHNP,” said USA Board Chairman Joel Gebbie. “USA has helped its utility members to achieve and maintain consistent, cost-effective, top-quartile performance – a proven and well-known measure of success within our industry – and we look forward to sharing our experiences through our new relationship with KHNP.”
In alignment with the joint statement from US President Joe Biden and Republic of Korean President Moon Jae-in on nuclear cooperation earlier this year in Washington, DC, KHNP has been pursuing ways to partner and cooperate in overseas markets. KHNP viewed working with USA member utilities and supplier partners as a perfect fit to enhance cooperation and to unlock commercial opportunities to add mutual value.
“As a leading top three global operator in nuclear, we look forward to exchanging information and collaborating on ideas with our new partners in the USA,” said KHNP CEO Mr. Jae-hoon Chung. “More importantly, In order for nuclear power to be competitive in the era of de-carbonization, the establishment of a reliable supply chain of equipment and materials must be premised above all else. I think if our experiences on operations and supply chains are shared and leveraged with USA member companies, it will pave the way for us to secure the competitiveness of the Korea-U.S. nuclear industry.”
About Utilities Service Alliance (USA):
The Utilities Service Alliance, Inc. (USA) is a not-for-profit cooperative, governed by a Board of Directors comprised of executives from the member utilities and headquartered in Overland Park, Kansas. USA is designed to facilitate collaboration among its eight member utilities. Together, it works to improve safety and performance, reduce operating and maintenance costs, and provide innovation and leadership within the nuclear power industry. By being a part of the Alliance, USA’s member utilities get the best of both worlds; fleet benefits while keeping the flexibility of their independent operator status. For more information, please visit us at https:/www.usainc.org.
About Korea Hydro & Nuclear Power Co., Ltd. (KHNP):
KHNP is the largest electric power company in Korea, generating approximately 29.8% of the total electric power (Dec. 31, 2020 / The Monthly Report on Major Electric Power Statistics). KHNP is a global top 3 utility providing 100% emissions solutions, including 24 operating nuclear power plants with 4 more units under construction in Korea. KHNP is also a global leader in delivering cost effective O&M solutions and on-time and on-budget construction of new nuclear power plants, including its advanced APR1400 reactor design. For more information on KHNP, please visit https://www.khnp.co.kr.
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