Hyundai E&C Consortium Signs Early Works Agreement for New Nuclear Power Plant in Finland

Hyundai Engineering & Construction announced that on the 19th (local time), it signed an Early Works Agreement (EWA) for the construction of a new nuclear power plant in Finland with Fortum, the Finnish state-owned energy company, and Westinghouse, a nuclear power plant design company.

Choi Young, Head of New Energy Business Division at Hyundai Engineering & Construction (from right), Laurent Rebouglie, Vice President of Fortum, and Elias Gedeon, Senior Vice President of Westinghouse, are taking a commemorative photo after the signing ceremony on the 19th. Provided by Hyundai Engineering & Construction

This agreement is a follow-up measure after Fortum decided to build a new nuclear power plant and, based on the results of a comprehensive two-year feasibility study, selected the Hyundai Engineering & Construction consortium as the EWA contractor in March of this year. Choi Young, Head of New Energy Business Division at Hyundai Engineering & Construction, Laurent Rebouglie, Vice President of Fortum, and Elias Gedeon, Senior Vice President of Westinghouse, discussed plans for cooperation on the project going forward.

Based on this agreement, the Hyundai Engineering & Construction and Westinghouse consortium will review the overall construction of the nuclear power plant using proprietary reactor technology (AP1000), including establishing the initial project plan, evaluating the nuclear power plant site, and checking licensing-related matters. Since signing an agreement with Westinghouse in 2022 to jointly participate in the global large-scale nuclear power plant market, Hyundai Engineering & Construction has been actively involved in nuclear power projects in Bulgaria, Slovenia, Sweden, and other countries.