Hyundai E&C to build two SMRs in U.S.

Hyundai Engineering & Construction will partner with U.S. small modular reactor (SMR) developer Holtec to build two 300MW (megawatt) SMRs in Michigan, the U.S., within this year. The collaboration, which is based on the U.S.-Korea energy alliance, will mark the first time a Korean construction company will build SMRs overseas if it starts construction within the year as planned.

Hyundai E&C held a 'Mission 2030' event at the Palisades Nuclear Power Plant in Michigan, U.S. jointly with Holtec on Tuesday, and announced that it will push to implement the 'Palisades SMR-300 First Unit' project with the goal of starting commercial operation in 2030. To this end, it plans to complete the design in the first half of this year and start construction within the year.

The project entails the construction of two new 300MW SMRs at the Palisades Nuclear Power Complex owned by Holtec. Hyundai E&C has been cooperating with Holtec since 2021, signing a business cooperation agreement to develop SMRs and start related business together.

On the same day, the two companies also signed a definitive cooperation agreement to expand the scope of cooperation in the SMR development business. Accordingly, they plan to expand the cooperation area to the global market as well as the North American market and operate a joint organization.

SMRs are reactors with a generating capacity of 100 to 300 MW (megawatts) and are considered to be the next generation of nuclear power plants with higher safety and lower initial investment costs than large nuclear power plants (1,000 to 1,400 MW).


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