Westinghouse Electric Company and Hyundai Engineering & Construction have entered into a teaming agreement to pursue opportunities for deploying Westinghouse’s AP1000 nuclear technology in Sweden and Finland.
Under the partnership, Westinghouse will focus on the design and development of its AP1000 reactors, while Hyundai E&C will provide industrial engineering and construction expertise. This agreement expands on their 2022 strategic cooperation aimed at jointly advancing global AP1000 projects.
This collaboration aligns with nuclear development plans in the region. Swedish utility Vattenfall recently announced new reactor projects at Ringhals, aiming for operational status by the early 2030s. Fortum, Finland’s leading energy company, has also signed an agreement with Westinghouse to explore new nuclear possibilities.
“Westinghouse has supported Vattenfall for over half a century in delivering safe, reliable energy,” said Daniel Lipman, president of Westinghouse Energy Systems. “Partnering with Hyundai further enhances our efforts to bring energy security to Sweden and Finland with our proven AP1000 technology.”
Hyundai E&C CEO Young-joon Yoon echoed this sentiment, emphasizing the strong partnership between the two companies, dating back to 1971, and their combined expertise in delivering large-scale nuclear projects globally.
Date: September 11, 2024
