Hyundai E&C is strengthening its entry into the European large nuclear power plant construction market.
Hyundai E&C recently noted that it has been selected as the recipient of the Early Works Agreement (EWA) for the new nuclear power plant construction project in Finland.
Fortum, a state-owned energy corporation in Finland, has decided to construct a new nuclear power plant to enhance energy self-sufficiency and has conducted comprehensive feasibility studies with multiple nuclear power suppliers.
After two years of investigation, last month, three companies, including the Hyundai E&C-Westinghouse consortium, were selected as recipients of the Early Works Agreement. They plan to conduct in-depth research necessary for the new nuclear power plant construction project.
The suppliers selected for the EWA, including the Hyundai E&C-Westinghouse consortium, will establish plans for the overall construction of the AP1000® nuclear power plant by assessing the technology maturity required for project execution and reviewing licensing-related matters.
Hyundai E&C will also participate in the nuclear power project in Slovenia with Westinghouse. In Europe, as policies to expand nuclear power are pursued to strengthen energy security, Slovenia is also showing active movements to construct a new nuclear power plant.
The new nuclear power plant construction project (JEK2) in Krško, Slovenia, involves the construction of one new large nuclear power plant of the AP1000 model near the existing Unit 1 nuclear plant in the Krško area, approximately 80 kilometers east of the capital, Ljubljana. It is being promoted by the state-owned power company, GEN Energija.
Currently, the Hyundai E&C-Westinghouse consortium and EDF have been selected as final candidates for suppliers for this project early this year and are conducting a Technical Feasibility Study (TFS).
The Hyundai E&C-Westinghouse consortium will conduct feasibility studies on the AP1000 reactor arrangement by the third quarter of this year. This is a key stage in the early phase of the project for stable business advancement. A representative of Hyundai E&C explained that this evaluation would secure a competitive advantage in future bidding for design, procurement, and construction (EPC) contracts.
Since signing a strategic agreement with Westinghouse in 2022 for joint participation in the global market for large nuclear power plants (AP1000), Hyundai E&C has gradually expanded its market presence, having entered into a design contract for the Kozloduy nuclear power plant in Bulgaria.
In February, Lee Han-woo, CEO of Hyundai E&C, along with key executives from the energy sector, visited the United States to discuss close cooperation plans with Westinghouse executives. In March, they visited Bulgaria to meet with key figures in the new cabinet, continuously seeking ways to enhance cooperation for smooth project advancement.
Recently, Hyundai E&C has reorganized its energy-related organizations and has begun to expand its pool of experienced talent with expertise. Areas of recruitment include: ▲ performance, process, and quality in the nuclear sector, including large nuclear plants and small modular reactors (SMRs) ▲ research and development in the next-generation nuclear power sector (MSR·SFR) ▲ performance, design, process, and quality in renewable energy and power grid sectors.
Applications will be accepted until April 30 at the Hyundai E&C recruitment website. Detailed information on eligibility and specific job descriptions can also be found on the recruitment website.
A representative of Hyundai E&C said, "Based on the unique nuclear power construction capabilities and achievements built over the past 50 years and close cooperation with global partners, Hyundai E&C will expand its presence on the global nuclear power map."