On June 19, Hyundai Engineering & Construction (Hyundai E&C) is intensifying its efforts to penetrate the European nuclear power market, following its recent success in Eastern Europe and now targeting Nordic countries. The company announced it has taken a significant step toward expanding its presence across Europe’s nuclear landscape.
On June 19 (local time), Hyundai E&C signed an Early Works Agreement (EWA) with Finland’s state-owned energy company Fortum and Westinghouse for the preliminary phase of constructing a new nuclear power plant in Finland. The contract was signed at Fortum’s headquarters in Helsinki, in the presence of key representatives including Choi Young, Head of Hyundai E&C New Energy Business, Laurent Leveugle, Vice President in charge of new nuclear projects at Fortum, and Elias Gedeon, Senior Vice President at Westinghouse.
Prior to the signing, Hyundai E&C officials and partners held discussions to officially commence preliminary work on the new plant’s development and to explore ways to ensure smooth project execution.
This cooperation follows a comprehensive feasibility study conducted over two years after Fortum’s decision to enhance energy independence through new nuclear construction. In March, Hyundai E&C and Westinghouse were selected as the preferred consortium to undertake early-stage development.
Based on this agreement, the Hyundai E&C-Westinghouse consortium will conduct in-depth reviews of initial project planning, site evaluation, and permitting processes related to the AP1000® nuclear reactor construction. Hyundai E&C aims to reaffirm its strong project execution capabilities and foster closer cooperation with the client to secure future contracts with a competitive edge.
Globally, many European nations are aiming to expand nuclear power as part of their energy security policies. Building on a strategic partnership established in 2022 with Westinghouse for the global market of large-scale reactors (AP1000), Hyundai E&C is actively involved in several European projects, including designing the Kozloduy nuclear plant units 7 and 8 in Bulgaria and preparing for EPC (Engineering, Procurement, Construction) contracts. The company is also participating in nuclear projects in Slovenia, Sweden, and other countries, aiming to broaden its footprint in the international nuclear market.
A Hyundai E&C official stated, “We plan to complete this project successfully and secure a competitive advantage for upcoming EPC bidding opportunities. As the role of nuclear power gains renewed global attention, Hyundai E&C will leverage over 50 years of expertise and its position as a top-tier EPC provider to deliver reliable nuclear solutions across Europe and other key markets.”
