Hyundai E&C to Lead the Era of Next-Generation Nuclear Power Commercialization

Hyundai E&C has been selected as a partner for TerraPower’s next-generation nuclear power plant construction project, accelerating its efforts to establish a foothold in the global energy supply chain.

Hyundai E&C announced on the 18th that it had signed a Strategic Framework Agreement for the implementation of the Natrium® (hereinafter “Natrium”) nuclear power plant project, TerraPower’s flagship reactor technology, at a ceremony attended by key executives, including Hyundai E&C CEO Hanwoo Lee and TerraPower President and CEO Chris Levesque. Under the agreement, the two companies agreed to expand cooperation in the nuclear power sector and jointly explore new business opportunities by leveraging their respective technologies and expertise. Hyundai E&C also secured the right to serve as the EPC partner for follow-on Natrium units (up to eight) planned by TerraPower. In particular, with senior executives from both companies meeting in Seoul, including [HDEC1.1]Chris Levesque’s visit to Hyundai E&C headquarters, cooperation between the two companies on the commercialization of Natrium nuclear power plants and expansion into global markets is expected to gain further momentum.

TerraPower is a leading U.S. nuclear energy company with Gen IV reactor technology based on the Sodium-cooled Fast Reactor (SFR), which uses liquid sodium as a coolant. It has emerged as a front-runner in the next-generation nuclear power market, becoming the first company in the U.S. to receive construction approval from the Nuclear Regulatory Commission (NRC) for a Gen IV reactor and breaking ground on the 345 MW “Kemmerer Unit 1” in Wyoming. In particular, TerraPower’s Natrium technology offers a high level of safety and generation efficiency and reduced nuclear waste compared with conventional reactors. It is capable of passive cooling even in the event of a loss of external power, and by integrating the reactor with an energy storage system, it can match power output in response to electricity demand, earning recognition as a flexible, carbon-free power source well suited to the AI era. TerraPower has also signed contracts with major tech companies such as Meta with a view to supplying electricity to AI data centers and plans to expand its market beyond the United States. 

A Hyundai E&C official stated, “By combining TerraPower’s innovative nuclear technology with Hyundai E&C’s global EPC capabilities, this agreement will serve as an important milestone in addressing surging electricity demand and accelerating the commercialization of next-generation nuclear power plants,” adding, “Going forward, Hyundai E&C will continue to expand its energy portfolio and strengthen cooperation with leading companies to take the lead in the global energy market.” Meanwhile, building on its extensive track record of constructing 24 large-scale nuclear power plants, Hyundai E&C is further strengthening its position through participation in a wide range of projects in the U.S., a global leader in nuclear energy, spanning large-scale nuclear power plants, SMRs, and nuclear decommissioning. In particular, by formalizing cooperation on TerraPower’s Natrium project through this agreement, the company has secured unparalleled execution experience in the next-generation nuclear power sector, underpinned by a robust Korea-U.S. relationship