▲ Hyundai E&C takes its first step in constructing four large-scale nuclear power plants at the world's largest advanced energy and artificial intelligence campus

▲ The company aims to accelerate its expansion on the global nuclear power market by bolstering practical, Korea-U.S. energy partnership-based cooperation

Hyundai E&C has become the first Korean EPC to secure a contract to build a large-scale nuclear power plant in the United States, marking the beginning of a new phase in the Korea-U.S. nuclear energy cooperation framework.

On Friday, November 24th, at its headquarters in Jongno-gu, Seoul, Hyundai E&C signed a Front-End Engineering Design (FEED) services contract with Fermi America for the construction of four large-scale nuclear power plant reactors within its Advanced Energy and Intelligence Campus. The contract signing ceremony was held with key officials from both companies in attendance, including Hyundai E&C CEO Han-woo Lee and the Fermi Nuclear LLC. CEO Mesut Uzman.

Immediately after the contract signing, CEO Han-woo Lee met with Fermi America CEO Toby Neugebauer in Hong Kong to discuss plans for the swift execution of the large-scale nuclear power reactor EPC process and to confer on ways to enhance cooperation at every level of the project.

The Advanced Energy and Intelligence Campus is the world's largest private power grid (HyperGrid™) complex, being developed by U.S. energy developer Fermi America on an approximately 21.19 million m² site outside Amarillo, Texas. The project includes the phased roll out of a total of 11GW in independent power supply infrastructure, combining △four AP1000 large-scale nuclear power reactors (4GW), △SMRs (2GW), △gas-fired combined cycle power plants (4GW), and △solar power and a Battery Energy Storage System (BESS) (1GW), along with a massive hyperscale AI data center linked to this power.

Based on this contract, Hyundai E&C will execute the first phase of the project, which includes basic design work such as △developing the site layout plan, △reviewing cooling methods, and △calculating the budget and timeline. Since signing a Memorandum of Understanding for the joint development in July, the two companies have been in continuous discussions, from the planning of the nuclear-based hybrid energy system to the basic design and EPC. The combined license is currently under review by the U.S. Nuclear Regulatory Commission (NRC), and Hyundai E&C will proceed with basic design and main construction preparations in parallel, with the goal of signing an EPC contract in the first half of next year.

Amid the rapid growth of the local nuclear industry driven by U.S. policy to strengthen energy security, Hyundai E&C has become the first Korean company to sign a contract to execute a large-scale U.S. nuclear power plant construction project. This milestone is particularly significant in that it has laid the groundwork for solidifying the company’s position in the U.S. nuclear power market, based on its unrivaled nuclear power plant construction expertise and its unique distinction of delivering nuclear power plant projects ‘On Time and On Budget.’¹⁾

A Hyundai E&C official remarked, “We expect to create strong synergy in advancing the U.S. nuclear power plant construction market together with Fermi America, whose remarkable momentum is evident from its dual listings on Nasdaq and the London Stock Exchange, achieved just nine months after its founding last October..” The official added, “This contract is a significant achievement that demonstrates Hyundai E&C is a trusted nuclear power partner in the global energy market, and based on the close energy partnership between the U.S. and Korea, we will look for ways to further strengthen our practical cooperation.”

Fermi America is a private U.S. energy developer leading the construction of gigawatt (GW)-scale power grids essential for the realization of next-generation artificial intelligence (AI). The company was co-founded by former U.S. Secretary of Energy Rick Perry and Toby Neugebauer and, based on a globally proven group of experts and cutting-edge technology, is accelerating the construction of the world's largest advanced energy and intelligence  campus, with a total project cost of USD 500 billion.

1) Completed on schedule and within the approved budget.