Westinghouse and Hyundai Team for AP1000® Opportunities in Sweden and Finland

STOCKHOLM--(BUSINESS WIRE)--Westinghouse Electric Company and Hyundai Engineering & Construction Company have signed a teaming agreement to pursue AP1000^® technology opportunities in Sweden and Finland.

Under this teaming agreement, Westinghouse will provide the design and development of its industry-leading, globally deployed AP1000 technology, and Hyundai Engineering & Construction will provide its globally recognized industrial engineering and construction services for the project. This agreement builds upon a 2022 strategic cooperation agreement between the two companies to jointly participate in global AP1000 plant opportunities.

This announcement follows plans unveiled by Vattenfall in February to initiate new nuclear power projects at Ringhals, with aspirations to have the first reactor operational in the early 2030s and critical decisions regarding reactor types this year. Moreover, Fortum and Westinghouse signed a MoU in June 2023 to explore the potential and prerequisites for new nuclear plants in Finland and Sweden.

“For more than half a century, Westinghouse has proudly supported Vattenfall in delivering clean, safe and reliable energy from the Ringhals Nuclear Power Plant, which is based on Westinghouse design. Cooperation with Fortum would add another dimension to nuclear new build in the region,” said Daniel S. Lipman, President of Westinghouse Energy Systems. “In partnership with Hyundai – a global, top-tier EPC company – we look forward to bringing our proven AP1000 technology with a proven nuclear power construction company to provide another 100 years of energy security to Sweden and Finland.”

“Hyundai E&C has accumulated unrivalled nuclear EPC competitiveness, technical capabilities and know-how in operating construction management systems through the construction of 24 large-scale nuclear power plants in the global market,” said Young-joon Yoon, CEO & President of Hyundai E&C. “Based on the long-standing trust and partnership between Hyundai E&C and Westinghouse, which dates back to 1971, we will exert our best teamwork to maximize the synergies of both companies for success.”

The AP1000 reactor is the only operating Generation III+ reactor with fully passive safety systems, modular construction design and the smallest footprint per MWe on the market. There are four AP1000 reactors currently setting operational performance and availability records in China with eight additional reactors under construction and four more under contract, as well as two operating AP1000 units at the Vogtle site in Georgia. The AP1000 technology has been selected for the nuclear energy programs in Poland, Ukraine and Bulgaria, and is also under consideration at multiple other sites in Central and Eastern Europe, the United Kingdom, India and North America. There will be 18 units based on AP1000 technology in operation globally by the end of the decade.

Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear and other clean power technologies and services globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and the company’s technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and X.