Hyundai Engineering & Construction to Build Next-Generation Nuclear Plants for US TerraPower

Priority Secured for EPC Rights on Eight TerraPower Sodium-Cooled Nuclear Units

Hyundai Engineering & Construction announced on August 18 that it has signed a basic agreement with TerraPower, an American nuclear power company, to pursue a sodium-cooled nuclear power plant project. Sodium-cooled nuclear reactors, which produce less waste compared to conventional reactors, are considered next-generation nuclear power technology, and attention is growing as to whether this advancement will accelerate commercialization in the global energy market.

Under the agreement, the two companies will expand their cooperation in the nuclear power sector based on their respective technologies and expertise, and will jointly seek new business opportunities. Hyundai Engineering & Construction has been granted the authority to serve as the engineering, procurement, and construction (EPC) partner for up to eight additional sodium-cooled nuclear plants that TerraPower is planning. Key executives from both companies, including Chris Levesque, CEO of TerraPower, and Hanwoo Lee, CEO of Hyundai Engineering & Construction, recently met at Hyundai's headquarters in Seoul to discuss key issues.

Hanwoo Lee, CEO of Hyundai Engineering & Construction (right), and Chris Leveck, CEO of TerraPower, are taking a commemorative photo after signing the agreement. Photo by Hyundai Engineering & Construction

TerraPower possesses fourth-generation nuclear power plant technology based on the sodium-cooled fast reactor (SFR), which uses liquid sodium as a coolant. The company is a leading player in the next-generation nuclear power market, having become the first in the United States to receive Nuclear Regulatory Commission (NRC) approval to build a fourth-generation reactor and having commenced construction of the 345 MW Kemmerer Unit 1 in Wyoming. According to the company, the sodium-cooled system offers superior safety and generation efficiency. Even if power is lost, natural cooling is possible, and by integrating the reactor with an energy storage system, output can be adjusted to meet power demand. This enables it to serve as a flexible, carbon-free power source well-suited for the age of artificial intelligence (AI). TerraPower is reportedly signing agreements with leading big tech companies to provide power to AI data centers.

Hyundai Engineering & Construction, leveraging its experience in constructing large-scale nuclear power plants, has participated in various projects in the United States, including large commercial reactors, small modular reactors (SMRs), and nuclear decommissioning projects. A company official stated, "This agreement combines TerraPower's innovative nuclear power technology with Hyundai Engineering & Construction's global EPC capabilities, making it a key milestone to meet surging power demand and accelerate the commercialization of next-generation nuclear power plants." The official added, "We will continue to expand our energy portfolio and strengthen partnerships with leading companies, taking the lead in the global energy market."

This content was produced with the assistance of AI translation services.