In a move signaling a strong commitment to nuclear energy, the Czech Republic has signed a monumental $22 billion contract with South Korea’s Korea Hydro & Nuclear Power for the construction of a new nuclear power station. The deal, representing South Korea’s largest nuclear equipment export since 2009, is a major step toward the Czech Republic’s goal of phasing out coal and achieving energy independence.

The project encompasses four 1200-megawatt reactors, each capable of powering roughly half a million homes. This new station will significantly bolster the Czech Republic’s energy security, providing enough electricity for nearly 2.5 million homes while simultaneously slashing greenhouse gas emissions by an estimated 10 million tons annually.

Construction is set to commence in 2029, with the first reactor slated to come online by 2036. The deal also marks a significant deepening of bilateral ties between South Korea and the Czech Republic, particularly in the realm of clean energy cooperation.