▲ Hyundai E&C–Westinghouse Consortium Nears Entry into the Finnish Nuclear Business

▲ Leverages Unrivaled Construction Capabilities and the Korea–U.S. Energy Partnership to Speed Up Global Expansion

Hyundai E&C is stepping up its expansion into the Nordic large-scale nuclear market after its recent push into Eastern Europe, accelerating the company’s drive to broaden its nuclear footprint across Europe. 

On the 19th (local time), Hyundai E&C signed an Early Works Agreement with Finland’s state-owned energy firm Fortum and Westinghouse for the construction of a new nuclear power plant in Finland.

Prior to signing, key representatives including Choi Young, Executive Head of Hyundai E&C’s NewEnergy Division, Laurent Leveugle, Vice President for New Nuclear at Fortum, and Elias Gedeon, Senior Vice President at Westinghouse met at Fortum’s headquarters in Helsinki, Finland to officially kick off early-works operations for the new nuclear powerplant project and map out collaboration to ensure its seamless execution.  

The deal stems from a two-year comprehensive feasibility study Fortum conducted after deciding to add a new nuclear power plant to strengthen national energy security, and it is measure following the Finnish company’s March selection of the Hyundai E&C-Westinghouse consortium for the early-works phase.

Hyundai E&C-Westinghouse consortium will conduct a thorough review of the entire AP1000® construction process, covering early project planning, site assessment, and licensing and compliance checks, under the terms of this agreement. Hyundai E&C intends to use the project to reaffirm its excellence in project expertise, forge a close cooperative relationship with the client, and secure a clear edge ahead of full EPC tendering.

Meanwhile, European countries are accelerating nuclear-expansion policies to enhance energy security. Building on its 2022 “Teaming Agreement for Joint Participation in the Global Large-Scale Nuclear(AP1000) Market” with Westinghouse, Hyundai E&C is providing design services for Bulgaria’s Kozloduy Units 7 & 8 while focusing on pre-EPC contract preparations, actively engaging in nuclear projects in Slovenia, Sweden, and beyond, broadening its European and global nuclear reach.

A Hyundai E&C representative stated, “By successfully completing this project, we aim to secure a competitive edge in the forthcoming EPC bid. As nuclear power once again comes into the global spotlight, Hyundai E&C will leverage more than fifty years of accumulated nuclear expertise and its standing as a top-tier global EPC provider to deliver reliable nuclear construction solutions to Europe and other key markets.”