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Hyundai Engineering & Construction. (Photo=Hyundai Construction) |
[Alpha Biz= Kim Jisun] Hyundai Engineering & Construction (Hyundai E&C) is set to begin construction of two 300MW small modular reactors (SMRs) in Michigan in collaboration with U.S. nuclear technology firm Holtec.
On February 25 (local time), Hyundai E&C and Holtec held the "Mission 2030" event at the Palisades Nuclear Plant site in Covert, Michigan, announcing plans to break ground on the Palisades SMR-300 First-of-a-Kind (FOAK) Project by the end of the year. If the project proceeds as scheduled following regulatory approvals from the U.S. government, this will mark the first instance of a South Korean construction company building SMRs overseas.
Hyundai E&C and Holtec have been collaborating on nuclear energy projects since 2021, including SMR development, nuclear plant decommissioning, and interim storage solutions for spent nuclear fuel. The two companies have conducted site-specific design work, including ground and geological surveys and environmental impact assessments, in preparation for constructing the two SMRs within the Palisades nuclear site, which Holtec owns.
During the event, the companies signed an expanded cooperation agreement detailing their strengthened partnership and announced the establishment of a joint venture to manage and operate the SMR project.
SMRs are advanced nuclear reactors with a capacity of 300MW or less, featuring an integrated design that combines key components such as the reactor, steam generator, coolant pump, and pressurizer into a single unit. This modular structure enhances safety and efficiency, making SMRs a promising clean energy solution.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
