Hyundai E&C Signs Framework Agreement with TerraPower for Natrium Nuclear Power Plant Project

Hyundai Engineering & Construction announced on the 18th that it has signed a framework agreement with U.S. nuclear energy company TerraPower for the execution of the Natrium next-generation nuclear power plant project. Under the agreement, Hyundai E&C has been granted priority status to serve as the engineering, procurement, and construction (EPC) general contractor for up to eight additional Natrium nuclear units developed by TerraPower.

The signing ceremony was attended by senior executives from both companies, including Hyundai E&C CEO Lee Han-woo and TerraPower CEO Chris·Levesque. The two parties plan to expand cooperation in the nuclear energy sector and jointly explore new business opportunities, including discussions on construction plans and joint sales strategies for subsequent projects following the Kemmerer Unit 1 in Wyoming, U.S.

TerraPower is developing fourth-generation nuclear technology based on the sodium-cooled fast reactor (SFR). This technology uses liquid sodium as a coolant and combines the reactor with an energy storage system, enabling adjustable power output based on electricity demand. TerraPower is currently advancing the Kemmerer Unit 1 project in Wyoming, U.S., with an installed capacity of 345 megawatts, and aims to expand its business to meet the growing electricity demand driven by loads such as artificial intelligence data centers.

Prior to the signing of this agreement, Hyundai E&C, TerraPower, and HD Hyundai had signed a memorandum of understanding for next-generation nuclear power plant business in May of last year. Under the cooperation arrangement, Hyundai E&C is primarily responsible for EPC cooperation, while HD Hyundai focuses on the manufacturing of key nuclear power plant components. On the 14th, Lee Han-woo also met in Seoul with TerraPower Chairman Bill·Gates, Chris·Levesque, and HD Hyundai Chairman Chung Ki-sun to discuss the commercialization of the Natrium nuclear power plant and cooperation plans for subsequent projects.

A Hyundai E&C official stated that this agreement combines TerraPower's nuclear technology with Hyundai E&C's EPC capabilities, laying the foundation for participation in next-generation nuclear power projects. The company will continue to expand cooperation in the commercialization of Natrium nuclear power plants and global projects. In addition to large-scale nuclear power plants, small modular reactors (SMRs), and nuclear facility decommissioning services, Hyundai E&C will also extend its business scope to the sodium-cooled fast reactor sector through this cooperation.