Hyundai Engineering has been selected as a partner for the next-generation nuclear power project by the American company TerraPower. The company has secured EPC priority rights for up to eight follow-up sodium nuclear reactors, aiming to take the lead in the commercialization market for next-generation nuclear power.
On August 18, Hyundai Engineering announced that its CEO, Lee Han-woo, and TerraPower CEO Chris Levesque, along with other key executives, signed a basic agreement to carry out the sodium nuclear reactor project.
Through this agreement, both companies will expand their cooperation in the nuclear power sector and jointly explore new business opportunities. Hyundai Engineering has also secured the rights to be the EPC partner for up to eight additional sodium nuclear reactors that TerraPower is planning.
TerraPower is a U.S. nuclear company that possesses fourth-generation nuclear technology based on sodium-cooled fast reactors using liquid sodium as a coolant. It has received construction approval for a fourth-generation reactor from the U.S. Nuclear Regulatory Commission and is making strides in the next-generation nuclear market with the commencement of the 345 MW 'Kemmerer Unit 1' in Wyoming.
Sodium nuclear reactors are characterized by their high safety and efficiency, producing less nuclear waste compared to existing reactors. They can naturally cool even when power is lost and can adjust output according to power demand by combining the reactor with energy storage systems.
Hyundai Engineering noted that sodium nuclear reactors are gaining attention as a carbon-free power source capable of meeting the increasing energy demands of the AI and semiconductor industries. TerraPower has already signed contracts with major tech companies, including Meta, to supply power to AI data centers and is planning to expand into international markets.
As the demand for power from AI data centers and advanced manufacturing facilities surges, construction companies' nuclear and small modular reactor projects are emerging as a key component in the global energy infrastructure bidding competition.
Leveraging its experience in constructing 24 large nuclear power plants, Hyundai Engineering is participating in various projects in the U.S., including large nuclear plants, small modular reactors, and nuclear decommissioning. This agreement allows Hyundai Engineering to broaden its collaboration with TerraPower on sodium projects, gaining experience in the next-generation nuclear sector.
A Hyundai Engineering official stated, “This agreement combines TerraPower's innovative nuclear technology with Hyundai Engineering's global EPC capabilities, marking an important milestone in responding to the surging energy demand and accelerating the commercialization of next-generation nuclear power.”
The official added, “Hyundai Engineering will continue to expand its energy portfolio and strengthen cooperation with leading companies to lead the global energy market.”
* This article has been translated by AI.
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