Orano and KHNP Deepen Uranium Enrichment Cooperation

Orano and Korea Hydro & Nuclear Power (KHNP) have signed a letter of intent to enhance their cooperation in uranium enrichment. The signing took place at the Elysee Palace in Paris during a state visit by South Korean President Lee Jae Myung. This agreement follows a memorandum of understanding on global and mutual cooperation in the nuclear fuel cycle, which was established between KHNP and Orano during French President Emmanuel Macron's visit to South Korea in April.

Both companies view this expanded cooperation as a significant step, reflecting the shared interest of South Korea and France in nuclear energy and the nuclear fuel supply chain. The collaboration aims to strengthen strategic ties beyond the corporate level. Orano and KHNP are preparing to deepen their existing relationship, focusing on the front end of the nuclear fuel cycle. KHNP has held a 2.5% stake in Orano's Georges Besse 2 enrichment plant in France since mid-2009.

KHNP anticipates that this initiative will broaden its access to new Western enrichment sources and further diversify its nuclear fuel supply chain. Orano expects the agreement to reinforce the foundation of its new enrichment projects. Kim Hoe-chun, CEO of KHNP, emphasized the importance of proactively securing reliable supply sources given the current uncertainties in the global nuclear fuel market. He stated that the letter of intent will expand cooperation and enhance the stability of KHNP's nuclear fuel supply.

Claude Imauven, Chairman of the Board of Directors of Orano, noted that this cooperation with KHNP presents an important opportunity to strengthen the relationship between the two companies, expressing anticipation for continued collaboration in the front end of the nuclear fuel cycle. KHNP operates 26 reactors, which generate approximately one-third of South Korea's electricity. South Korea has historically maintained an open fuel cycle, without domestic enrichment or reprocessing, due to its 1973 nuclear cooperation agreement with the USA, which was renewed in June 2015. The country sources uranium for fuel from various international suppliers, including Kazakhstan, Canada, Australia, and Niger, with an annual requirement of about 4700 tU. Enrichment services have previously been provided by Tenex, Urenco, Centrus, and Orano. KHNP had previously signed a long-term EUR1 billion contract with Areva NC (now Orano) in mid-2007 for enrichment services at the Georges Besse II plant.

Integrated Planning Crucial for India's Power Sector Transition

Harsh Shah, Managing Director of IndiGrid Infrastructure, stated at the ET Energy Leadership Summit 2026 that the focus for India's power sector should shift from installed megawatts to the collective ability of generation, storage, transmission, and distribution to deliver electricity effectively. He highlighted that the primary challenge for India is not merely adding generation capacity but ensuring reliable transmission and supply to consumers.

Shah noted that generation, storage, and transmission projects are currently developed on disparate timelines, despite their eventual operation on the same grid. He advocated for execution-level planning that synchronizes project pipelines, bidding schedules, and infrastructure timelines. Shah also suggested that utility-scale batteries should be considered grid infrastructure due to their capacity to absorb surplus renewable electricity and release it as needed. IndiGrid is developing approximately 2 GW of battery-storage projects, with nearly 1 GW already completed. He called for further experimentation with alternative battery technologies, such as sodium-based systems, to mitigate future technology and commodity risks.

India Focuses on Supply Chain Resilience for Grid 2035

The future of India's power system, dubbed Grid 2035, will prioritize anticipatory transmission, commercially viable storage, and strong project execution. Industry leaders highlight the importance of supply chain resilience to ensure that renewable capacity translates into reliable, round-the-clock electricity. A central challenge involves the disparity between the time needed to build renewable generation and the longer development period for transmission infrastructure.

To address these issues, Siemens Energy India is increasing localization, automation, and supplier visibility. These measures aim to reduce dependence on imported components and effectively manage long-term demand. Tender structures are also being re-evaluated to better account for commodity-price fluctuations and to support longer-duration storage solutions, moving beyond short-term systems. Financing for these projects is contingent on factors such as supplier quality, payment security, and land availability, with banks scrutinizing these aspects closely.