EPC Talks Collapse for Czech Dukovany New-Build; CEZ to Relaunch Procurement

Negotiations Break Down After Prolonged Talks

Korea Hydro & Nuclear Power (KHNP) has ended construction contract negotiations with a consortium led by Daewoo Engineering & Construction for the $18.6 billion (€16.5 billion) project to build two APR1000 reactors at the Dukovany site in the Czech Republic. KHNP stated that the two parties were unable to reach agreement on key contract terms despite an extended negotiation period.

According to the consortium, the immediate trigger was a set of revised contract terms submitted by KHNP on 7 October 2026, which gave the consortium approximately three weeks to review the proposed changes. Reports from South Korea indicated that the broader breakdown followed more than a year of discussions over construction costs and the allocation of financial responsibility for design modifications.

Industry sources said KHNP had demanded a reduction of more than 10% from the consortium's original bid price, a cut equivalent to over $750 million. The consortium, which includes Doosan Enerbility alongside Daewoo E&C, called for negotiations to resume following the breakdown.

CEZ Moves to Terminate Cooperation Agreement

Czech state-controlled utility CEZ announced on 28 October 2026 that it would move to terminate its cooperation agreement with the Daewoo-led consortium and initiate a new bidding process to identify a replacement EPC contractor. The decision represents a significant procurement reset for a project that had already reached an advanced contracting stage.

The Dukovany project involves two large-scale APR1000 units to be built at the existing Dukovany nuclear power station in the southern Czech Republic, located approximately 50 kilometres from the Austrian border. A government-backed intergovernmental deal between Czech nuclear project company EDU II and KHNP was signed in June 2025. Daewoo E&C and Doosan Enerbility had been selected as construction partners in 2018 and participated in the original bidding process.

KHNP vice-president and head of project operations Choi Il-kyung was quoted by The Korea Herald as playing down the risk of major disruption to the overall project timeline, though no further detail on a revised procurement schedule was provided in available statements.

Supply-Chain Implications

The collapse of EPC talks introduces material uncertainty into the construction supply chain for one of Europe's largest planned nuclear new-build programmes. With CEZ now required to run a fresh contractor selection process, the timeline for mobilising civil and mechanical works at Dukovany is likely to face revision. The scale of the cost dispute — centred on who bears the financial burden of design changes — may also influence how future EPC packages for APR1000 projects are structured elsewhere.

BWXT Advanced Fuels Signs Multi-Year TRISO Supply Agreement with Antares Nuclear

BWX Technologies has announced that its BWXT Advanced Fuels subsidiary has entered into a multi-year commercial agreement with Antares Nuclear, Inc. to produce tri-structural isotropic (TRISO) nuclear fuel in support of Antares' advanced reactor program.

The agreement establishes a framework for fuel production beginning with an initial allocation of 1 MTU (metric ton uranium). Terms allow for the contracted volume to increase as Antares' deployment requirements evolve over time.

Facility and Production Line

Fuel deliveries under the contract will be manufactured at BWXT's Lynchburg, Virginia facility. The production will take place on the same TRISO fabrication line previously used to supply fuel for Antares' Mark-0 reactor and for Project Pele, a 1.5 MW transportable microreactor developed for the U.S. Army.

Specific quantities, delivery schedules, and technical requirements will be defined through a series of future task orders issued as the Antares reactor program advances, giving both parties flexibility to align supply with program milestones.

Recent Program Milestones

The contract follows a series of documented technical achievements on the Antares program. Earlier in 2026, BWXT-produced TRISO fuel supported Antares' Mark-0 criticality milestone, marking a significant step in the reactor's development.

Separately, BWXT delivered a full core of TRISO fuel for Project Pele to Idaho National Laboratory in December 2025. Formal prototype testing for that program is planned to begin as early as 2027.

Supply Chain Significance

The agreement represents one of the first multi-year commercial TRISO fuel supply contracts tied to a private advanced reactor developer's deployment schedule. For nuclear fuel cycle professionals, the structure — an initial fixed allocation with scalable task orders — reflects an emerging procurement model suited to the phased development timelines common among advanced reactor companies.

TRISO fuel, characterized by its ceramic-coated particle design, is a key enabling technology for several advanced and microreactor concepts currently under development in the United States.

Elementl Power Signs $750 Million Preliminary Development Partnership with South Korean Consortium

Elementl Power has signed a preliminary agreement to form a development partnership of up to $750 million with a consortium led by DS Investment Partners (DSIP), a Seoul-based investment firm focused on energy, technology, healthcare, and strategic infrastructure. The agreement takes the form of a letter of intent and term sheet and does not constitute a final investment decision by any party.

The South Korean consortium would fund a portion of the partnership's projected capital and hold a significant minority interest. The agreement also allows for participation from additional strategic and financial investors. Definitive documentation, regulatory approvals, and other customary closing conditions must be satisfied before the arrangement is finalised.

Scope and Use of Capital

The partnership is structured to provide a portion of the capital required for up to three of Elementl Power's advanced reactor projects to reach final investment decision. Eligible uses of funds include permitting, grid interconnection, and long-lead item procurement — activities that typically define the critical path for new nuclear builds.

Elementl Power Chairman and CEO Chris Colbert stated: "Once finalized, this partnership would expand our early-stage project capital, increase our access to South Korea's nuclear supply chain and engineering expertise and enhance our position as the financial and development partner best equipped to deliver new nuclear."

Ohio BWRX-300 Project

One of the three projects covered by the proposed partnership is a 1.5 GW development in Ohio that will deploy GE Vernova Hitachi Nuclear Energy's BWRX-300 small modular reactors. The project is sited on a 700-acre parcel along the Ohio River in Letart Township, southern Ohio, acquired from American Municipal Power.

Construction is targeted for 2030, with completion of the first unit projected for 2034, subject to approvals from the Nuclear Regulatory Commission and the Ohio Power Siting Board. No offtake customer or power purchase agreement has been publicly identified for the project at this stage.

Existing Backers and Related Agreements

Elementl Power's existing investor base includes Energy Impact Partners and accounts advised by T. Rowe Price Group. In May 2025, the company signed a separate agreement with Google under which Google committed early-stage development capital toward three projects, each with a minimum capacity of 600 MW and an option for commercial offtake upon completion.

DS Investment Partners is part of a Seoul-based financial group. Samsung C&T Engineering & Construction Group was noted as a potential future strategic participant in the consortium but is not an investor in the current round.