Hyundai E&C Partners with US Firm to Develop World's Largest Integrated Energy Campus

Collaboration on Advanced Energy Infrastructure Construction Project
MOU Signed for Joint Development of Local Private Power Grid
Plans to Expand Cooperation Starting with Nuclear Power Sector

Hyundai Engineering & Construction is partnering with a private U.S. energy developer to embark on the development of the world's largest advanced energy and AI integrated infrastructure. The company's strategy is to expand its presence in the North American energy market and secure new global growth engines by leveraging its experience in building nuclear-based energy supply chains.

On July 31, Hyundai Engineering & Construction announced that it had signed a memorandum of understanding with Fermi America for the "Joint Development of Advanced Energy and Intelligence Campus" at its headquarters in Jongno-gu, Seoul. The signing ceremony was attended by Lee Hanhoo, CEO of Hyundai Engineering & Construction, and Toby Neugebauer, co-founder of Fermi America, along with other key officials from both companies. Fermi America is an energy developer leading the development of gigawatt (GW)-scale power grids and was co-founded by former U.S. Secretary of Energy Rick Perry.

Hyundai Construction CEO Hanwoo Lee (right) and Fermi America co-founder Toby Neugebauer signed a "Business Agreement for Joint Development of Advanced Energy and Intelligence Campus" on the 31st at Hyundai Construction Gyedong Building in Jongno-gu, Seoul. Provided by Hyundai Construction

With this agreement, the two companies plan to collaborate in various areas, including: jointly planning nuclear-based hybrid energy projects; developing detailed work packages for each project phase; conducting Front-End Engineering Design (FEED); and pursuing an EPC contract within the year, particularly in the nuclear power generation sector of the project. Additionally, they will cooperate by operating a regular working-level consultative body and jointly addressing strategic tasks.

The project led by Fermi America involves constructing the world's largest private power grid (HyperGrid™) campus on a site of approximately 23,350,000 square meters on the outskirts of Amarillo, Texas. The total 11GW power supply network will be composed of four large-scale nuclear power plants (AP1000) with a combined capacity of 4GW, small modular reactors (SMR) with 2GW, gas combined cycle power plants with 4GW, and solar power and battery energy storage systems (BESS) with 1GW. This electricity will be supplied in stages to an ultra-large hyperscale AI data center.

A Hyundai Engineering & Construction official stated, "It is significant that we can contribute to the creation of the world's largest integrated energy and AI campus, which brings together various energy infrastructures, by participating from the early stages of the project." The official added, "We will use this as an important starting point to proactively secure new energy business opportunities not only in the United States but also in global markets, and we will continue to strengthen our competitiveness."

Toby Neugebauer, co-founder of Fermi America, said, "We consider the partnership with Hyundai Engineering & Construction, which has already proven its nuclear power plant construction capabilities in the global market, to be extremely important," adding, "We will work closely together to rapidly establish an energy supply base in preparation for the expansion of the AI era."