Westinghouse Electric has partnered with Hyundai Engineering & Construction to explore nuclear power plant (NPP) opportunities in Sweden and Finland.
The partnership will focus on the deployment of Westinghouse’s AP1000 reactor technology.
Go deeper with GlobalData
Westinghouse will be responsible for the design and technological development of the AP1000 reactors, while Hyundai Engineering & Construction will contribute its industrial engineering and construction expertise.
Their partnership extends the strategic cooperation agreement signed in 2022, in which both companies agreed to jointly pursue global AP1000 plant opportunities.
The announcement comes after Vattenfall‘s February 2024 plans to begin work on new nuclear projects at Ringhals in Sweden, with the first reactor operational by the early 2030s.
Fortum and Westinghouse also signed a memorandum of understanding in June 2023 to assess the feasibility of new nuclear plants in both Finland and Sweden.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataWestinghouse describes its AP1000 reactor as the sole operational Generation III+ reactor with fully passive safety systems and a modular construction design, with the most compact footprint per MWe (megawatt electric) available on the market.
The company notes the strong operational performance and availability of four AP1000 reactors in China, with 12 additional units either under construction or contracted, including two operational at the Vogtle site in Georgia.
Westinghouse’s AP1000 technology has been chosen for nuclear energy initiatives in Poland, Ukraine, and Bulgaria. It is also being considered for additional sites in the UK, Central and Eastern Europe, India and North America.
By 2030, Westinghouse anticipates a global operation of 18 AP1000 units.
Westinghouse Energy Systems president Daniel Lipman stated: “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.
“In partnership with Hyundai – a global, top-tier EPC [energy performance certificated] 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.”
In August 2024, Westinghouse Electric received formal approval from the UK’s Department of Energy and Net Zero to enter the generic design assessment (GDA) stage for its AP300 Small Modular Reactor (SMR) – a significant advancement for nuclear technology in the UK.
