SEOUL, June 25 (AJP) - Hyundai Engineering & Construction has taken a significant step into Northern Europe’s nuclear energy sector, signing a preliminary agreement to participate in a potential new nuclear power plant in Finland.
The South Korean builder announced it had entered into an Early Works Agreement (EWA) on June 19 with Finland’s state-owned utility Fortum and Westinghouse Electric Company, the U.S.-based nuclear technology firm, in Helsinki.
The agreement allows the consortium to begin preparatory work for a large-scale nuclear project, laying the groundwork for what could become a full-scale engineering, procurement, and construction (EPC) contract.
The deal marks Hyundai E&C’s formal entry into the Finnish nuclear energy market and positions the company to play a central role in the deployment of Westinghouse’s AP1000 reactor, an advanced design featuring passive safety systems and modular construction. The AP1000 is already licensed and operating in the United States and China, with additional projects underway globally.
“This partnership strengthens our role as a global EPC player and deepens our presence in the European energy market,” said Choi Young, head of Hyundai’s New Energy Division, who attended the signing ceremony at Fortum’s headquarters in Helsinki. Also present were Fortum Vice President Laurent Leveugle and Elias Gedeon, Senior Vice President at Westinghouse.
The EWA enables the consortium to initiate key groundwork activities, including site assessment, permitting review, and detailed planning. It follows a two-year feasibility study led by Fortum, which in March named the Hyundai–Westinghouse team as its preferred partner for the project.
For Hyundai, the Finland agreement is part of a broader push across Europe’s resurgent nuclear sector.
The company is already engaged in Bulgaria’s Kozloduy 7 and 8 reactor planning and is actively pursuing projects in Slovenia and Sweden. The expansion builds on a 2022 strategic agreement with Westinghouse to jointly pursue AP1000 projects worldwide.
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