Westinghouse and NAEK Energoatom Release Joint Statement Regarding Safety Optimization Program and Enhancement of Safety for Ukraine’s Nuclear Fleet

KIEV, September 30, 2016 – Today, Westinghouse Electric Company and NAEK Energoatom, the National Nuclear Energy Generating Company of Ukraine, released a joint statement discussing the companies’ future partnership to sustain the safety of Ukraine’s nuclear reactor fleet. The statement was issued during a visit to Kiev by a special delegation of chief executive officers, including Westinghouse’s Interim President and CEO Jose Gutierrez, led by U.S. Secretary of Commerce Penny Pritzker and the U.S. Department of Commerce.

The joint statement follows.

“Today, NAEK Energoatom and Westinghouse are pleased to announce that we have reached agreement to significantly deepen our partnership that will provide technology and knowledge transfer to enhance the safety and operations of Ukraine’s nuclear power fleet.

“In light of Ukraine’s strong reliance on nuclear energy and commitment to the highest operational and safety standards; together with Westinghouse’s unparalleled experience in providing industry leading technology and operating performance enhancements, Energoatom and Westinghouse have agreed to begin work on a Safety Optimization Program (SOP). The SOP will deliver continued safety improvements to the Ukrainian nuclear fleet that will meet the highest international safety benchmarks as well as specific requirements associated with the European Union’s standards as specified by the Western European Nuclear Regulatory Association (WENRA). These safety improvements, which also complement the substantial safety-related work already underway through the Safety Upgrade Program administered by the European Bank for Reconstruction and Development (EBRD), will additionally bring significant operating improvements to Ukraine’s nuclear power plants. The benefits of these operational improvements are intended to increase the annual availability of Ukrainian nuclear power plants that would result in substantial increases in power supply, profitability and meet safety requirements required for export of power to the European Union.

“The SOP will bring together the best practices of global operating experience and advanced technology combined with Ukrainian experts and industries such as Westron and Turboatom. This agreement to proceed on a Safety Optimization Program represents a significant new partnership between NAEK Energoatom and Westinghouse in providing joint support to Ukraine’s nuclear energy.”