SK Innovation Sells Part of TerraPower Stake to Korea Hydro & Nuclear Power; Shares Decline 3%

MT Newswires Live01-21 12:16

SK Innovation (KRX:096770) sold a part of its stake in U.S.-based small modular reactor (SMR) developer TerraPower to Korea Electric Power (KRX:015760) subsidiary Korea Hydro & Nuclear Power (KHNP).

The three companies began cooperating in April 2023 after signing a memorandum of understanding on SMR development and demonstration to expand the global SMR supply chain, SK Innovation said in a Wednesday release.

Following Korea Hydro & Nuclear Power's latest investment, the three firms plan to pursue additional SMR projects in the U.S. and abroad while finalizing an agreement for SMR deployment in South Korea.

Financial aspects of the deal were undisclosed.

Shares of SK Innovation fell more than 3% in recent trade, while those of Korea Electric Power Corporation increased over 4%.

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