Hyundai Engineering & Construction (Hyundai E&C) is broadening its presence in the European nuclear power construction sector by expanding into Slovenia and Finland following its work in Bulgaria.
The company recently announced that it has been selected as a candidate for an Early Works Agreement (EWA) for a new nuclear power project in Finland.
Finnish state energy company Fortum has decided to construct a new nuclear power plant to enhance energy independence and has conducted comprehensive feasibility studies with multiple nuclear suppliers. After two years of investigation, last month, a consortium that includes Hyundai E&C and Westinghouse, among three selected companies, will continue detailed investigations necessary for the new power plant construction.
The suppliers selected for the EWA, including the Hyundai E&C-Westinghouse consortium, will evaluate the technology maturity required for project execution and review regulatory requirements, establishing an in-depth plan for the overall construction of the AP1000®.
Through this project, Hyundai E&C aims to demonstrate its strong business capabilities once again while building a close cooperative relationship with the client to secure a competitive edge ahead of the main construction bidding.
Meanwhile, Hyundai E&C is also participating in Slovenia’s nuclear power project with Westinghouse. As Europe actively pursues policies to expand nuclear power for energy security, Slovenia is also taking proactive steps to construct a new facility.
The new nuclear power plant construction project (JEK2) in Slovenia, promoted by the state power company GEN Energija, involves the construction of a new large AP1000 nuclear reactor near the existing Unit 1 plant in the Krško region, approximately 80 km east of the capital Ljubljana. The Hyundai E&C-Westinghouse consortium and EDF were selected as the final supplier candidates earlier this year and are currently conducting a Technical Feasibility Study (TFS).
The Hyundai E&C-Westinghouse consortium plans to conduct feasibility studies on the placement of the AP1000 reactor by the third quarter of this year. This evaluation serves as a crucial initial stage for stable project advancement, with expectations of gaining a competitive advantage in the upcoming EPC project bidding.
In 2022, Hyundai E&C entered into a strategic agreement with Westinghouse for joint participation in the global large nuclear power market (AP1000) and secured a design contract for the Kozloduy nuclear power plant in Bulgaria, gradually increasing its presence in the market and visibly realizing collaboration achievements.
In February, Hyundai E&C's CEO, Han-woo Lee, along with key management from the energy sector, visited the United States to discuss close cooperation plans with Westinghouse executives. In March, they visited Bulgaria to sequentially meet with key figures in the new cabinet, continuously seeking ways to enhance cooperation for smooth project advancement.
“At the 2025 CEO Investor Day, we declared that Hyundai E&C will lead sustainable energy innovation centered around nuclear power as an ‘Energy Transition Leader,’" said an official from Hyundai E&C. "We will continue to expand Hyundai E&C’s position in the global nuclear power landscape, based on our unparalleled nuclear construction capabilities and achievements proven over the past 50 years and close collaboration with global partners.”
