Korean and Canadian energy firms ink nuclear deal to aid in carbon neutrality
Joint venture aims to enhance nuclear capabilities in two countries and pave the way for cleaner energy solutions
Korea Hydro & Nuclear Power (KHNP) signed a Memorandum of Understanding (MOU) on Nov. 29 with Canadian companies ARC Clean Technology and New Brunswick Power to explore collaboration opportunities for the commercialization of ARC’s advanced small modular reactor (SMR) technology in South Korea, Canada, the U.S. and other jurisdictions where KHNP has business operations.
The partnership will focus on the ARC-100 project, a 100 MW Sodium-cooled Fast Reactor (SFR), at New Brunswick Power’s Point Lepreau site. This initiative, expected to be Canada’s first SMR connected to the power grid, aligns with New Brunswick Power’s goal of phasing out coal by 2030 and achieving carbon neutrality by 2035.
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