Hyundai E&C and partner Holtec Britain make SMR shortlist

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Hyundai E&C and partner Holtec Britain make SMR shortlist

Published: 14 Oct. 2024, 17:44 Updated: 14 Oct. 2024, 19:17

LEE JAE-LIM
lee.jaelim@joongang.co.kr

Hyundai Engineering & Construction's headquarters in Jung District, central Seoul [HYUNDAI E&C]

A team of Hyundai Engineering & Construction (E&C) and Holtec Britain, the country's subsidiary of U.S.-based Holtec International, has been shortlisted as a final candidate for a small modular reactor (SMR) project led by the U.K. Atomic Energy Authority.

Among the six SMR developers shortlisted earlier this year, “Team Holtec,” consisting of the Korean builder and Holtec, and three other candidates — GE Hitachi Nuclear Energy, Rolls-Royce SMR and Westinghouse — made the final round of bidding.

By the end of this year, the British organization plans to select two from the final four bidders, paving the way for the construction of the country's first SMR.

The project is part of the British government’s strategy to expand its nuclear power capacity to 24 gigawatts by 2050.

Team Holtec has been making efforts to advance into the European nuclear market.

Hyundai E&C and Holtec entered a cooperative agreement to jointly develop SMRs in 2021. The following year, the duo was chosen for the Future Nuclear Enabling Fund to revitalize Britain's nuclear power plants and explore related global projects.

It has also completed Stage 1 of the Generic Design Assessment, a regulatory process in Britain to assess the safety and design of new reactors.

In March, Team Holtec signed a memorandum of understanding with Britain-based construction firm Balfour Beatty and engineering firm Mott MacDonald.

“Since signing a partnership agreement with Holtec in 2021 for joint SMR development and market entry, we have been collaborating on various nuclear projects, such as the deployment of the first SMR unit at the Palisades site in the U.S., nuclear decommissioning and establishing interim storage facilities for spent nuclear fuel,” a Hyundai E&C spokesperson said in a statement. “We aim to successfully complete Britain's first SMR deployment, solidify our position in the European nuclear market, and accelerate the diversification of our global nuclear project portfolio.”

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]