Latest news with #HyundaiE&C
Yahoo
31-07-2025
- Business
- Yahoo
Fermi America and Hyundai sign MoU for nuclear-powered grid project
Fermi America, in collaboration with the Texas Tech University System, has signed a memorandum of understanding (MoU) with Hyundai Engineering & Construction (E&C) to build the nuclear component of the world's largest private power grid for next-generation AI. The two entities signed the MoU in Seoul, South Korea, outlining their terms to jointly design and execute the delivery of safe and clean nuclear power within the private grid project. The project will integrate with combined-cycle natural gas, solar power and battery storage alongside data centre infrastructure capable of delivering up to 11GW of power. The partners will jointly plan for a nuclear-based hybrid energy venture, which includes developing a comprehensive business package for each project phase, conducting feasibility studies and creating basic engineering designs (FEED) as well as executing engineering, procurement and construction projects. Fermi America co-founder Toby Neugebauer stated: "We couldn't be more pleased to partner with the team at Hyundai E&C to power the future of AI. America doesn't have time to practice – we need to work with proven partners like Hyundai, who have a successful track record of planning and building safe, clean, new nuclear energy. Welcome to Texas!" In June 2025, Fermi America submitted its combined operating licence application in the US for building AP1000 nuclear units, which has been accepted for review. With Hyundai E&C's involvement confirmed, construction on the complex will commence in 2026 with the first reactor operational by 2032. Hyundai E&C CEO Hanwoo Lee stated: "We have been impressed by the executive team Fermi America has assembled, bringing together seasoned leaders in their respective fields. "We are especially pleased to see familiar faces in nuclear leadership from one of the most successful recent new build projects, and we look forward to working together to bring this ambitious vision to life." The Emirates Nuclear Energy Company recently partnered Hyundai E&C to explore international opportunities in the nuclear energy sector. The two organisations formalised their collaboration by signing an MoU. "Fermi America and Hyundai sign MoU for nuclear-powered grid project" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Dubai Eye
29-07-2025
- Business
- Dubai Eye
UAE, South Korea companies sign deal to expand nuclear energy cooperation
The Emirates Nuclear Energy Company (ENEC) and South Korea-based Hyundai Engineering & Construction (Hyundai E&C) have signed an agreement to jointly explore international nuclear energy opportunities. Signed in Seoul, the deal provides a "comprehensive framework for knowledge sharing, collaborative evaluation of project participation, and assessment of strategic investment opportunities." It also includes the formation of a joint working group to identify areas of mutual interest and support the development of future nuclear energy initiatives. The collaboration between ENEC and Hyundai E&C builds on the longstanding strategic partnership between the UAE and Korea in the nuclear sector and supports both countries' shared goals of advancing peaceful nuclear energy in line with IEA and IAEA projections for a significant global scale-up of nuclear capacity by 2030 and 2050 respectively. With the Barakah Nuclear Energy Plant fully operational, ENEC said it is now focused on working with global partners to support the acceleration of nuclear deployment and is committed to working with all "responsible" nations looking to deploy new nuclear or expand their existing fleets. Hyundai E&C was the lead contractor in the construction of the Barakah Nuclear Energy Plant, and a proven contributor to the UAE Peaceful Nuclear Energy Programme, which is now recognised as a global benchmark for safe and efficient nuclear development. The signing follows a series of recent agreements between ENEC and leading global operators, technology developers, and energy companies. These partnerships form an integral part of ENEC's broader focus on identifying global investment, collaboration and deployment opportunities to support the rapid delivery of civil nuclear energy, driving energy security and sustainability through the provision of clean baseload electricity. The successful construction of the Barakah Nuclear Energy Plant, earned Hyundai E&C high praise from the global nuclear industry for demonstrating its unique risk management and construction capabilities.
Time of India
28-07-2025
- Automotive
- Time of India
UAE nuclear agency signs global expansion deal with Korea's Hyundai E&C after Barakah success
The UAE's nuclear agency and Hyundai E&C signed an MoU to collaborate on knowledge sharing, strategic investments, and future international nuclear projects/ Image: WAM The Emirates Nuclear Energy Company (ENEC) and Hyundai Engineering & Construction (Hyundai E&C) signed a strategic Memorandum of Understanding (dMoU) in Seoul, Republic of Korea, marking a significant step forward in international nuclear cooperation. This new agreement aims to explore global nuclear energy opportunities through joint initiatives, aligning with both the UAE's and Korea's shared vision of advancing peaceful nuclear energy development. The collaboration builds on a longstanding and successful partnership between the two nations in the nuclear sector. It supports mutual efforts toward the safe and efficient expansion of nuclear power, in line with projections by the International Energy Agency (IEA) and the International Atomic Energy Agency (IAEA), which foresee a substantial global scale-up of nuclear capacity by 2030 and 2050. A Framework for Global Expansion and Technological Advancement Under the terms of the MoU, ENEC and Hyundai E&C have committed to: Knowledge sharing in nuclear technologies and project execution. Collaborative evaluation of participation in international nuclear energy projects. Assessment of strategic investment opportunities in nuclear ventures around the world. Formation of a joint working group to identify areas of mutual interest and support the development of future nuclear energy initiatives. This agreement is part of ENEC's broader strategic direction as it enters a new phase of global engagement. With the Barakah Nuclear Energy Plant in the UAE now fully operational, ENEC is actively looking to invest in and collaborate on large-scale nuclear reactors and new nuclear technologies both domestically and internationally. ENEC emphasized its commitment to 'working with all responsible nations looking to deploy new nuclear or expand their existing fleets,' adding that 'MOUs with companies such as Hyundai E&C are a clear demonstration of this approach.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Dubai villas | search ads Get Deals Undo Barakah Plant: A Model for Global Nuclear Development The MoU is also a continuation of the strong working relationship between ENEC and Hyundai E&C, the lead contractor in the construction of the Barakah Nuclear Energy Plant, a flagship achievement in the UAE's Peaceful Nuclear Energy Programme. Hyundai E&C, established in 1947, is one of South Korea's leading construction firms with expertise in civil, plant, and nuclear power projects. The company is now recognized globally for its expertise in nuclear infrastructure, and the Barakah project stands as a benchmark for safe, efficient nuclear development. The Barakah project involved the construction of four APR-1400 nuclear power plants, each with a capacity of 1,400MW, located west of Abu Dhabi. The USD 20 billion contract was awarded in December 2009 to a consortium led by Hyundai E&C, Korea Electric Power Corporation (KEPCO), and Korea Hydro & Nuclear Power, after intense competition from consortia in France, the United States, and Japan. Construction of the first unit began on the afternoon of 18 July 2012, and the plant became operational in 2020. Spanning an area 8 kilometers long and 1.8 kilometers wide, roughly four times the size of Yeouido in Seoul, the site showcases impressive engineering. Each reactor building, crowned with an 80-meter dome reminiscent of Islamic architecture, reaches the height of a 30-story building. Hyundai E&C's successful delivery of the project, on time and on budget, drew praise from the global nuclear industry for its project execution, risk management, and construction expertise. About ENEC The Emirates Nuclear Energy Company (ENEC) was established in December 2009 by a decree from UAE President Khalifa Bin Zayed Al Nahyan. ENEC is the national entity responsible for the deployment and ownership of nuclear energy plants across the UAE. Its founding purpose is to meet the country's growing electricity demand while diversifying energy sources and ensuring long-term energy security.
Emirates 24/7
28-07-2025
- Business
- Emirates 24/7
ENEC, Hyundai E&C sign MoU to advance global nuclear energy collaboration
The Emirates Nuclear Energy Company (ENEC) and Hyundai Engineering & Construction (Hyundai E&C) today signed a strategic Memorandum of Understanding (MoU) in Seoul, Republic of Korea, to jointly explore international nuclear energy opportunities. The collaboration between ENEC and Hyundai E&C builds on the longstanding strategic partnership between the UAE and the Republic of Korea in the nuclear sector and supports both countries' shared goals to advancing peaceful nuclear energy in line with IEA and IAEA projections for a significant global scale-up of nuclear capacity by 2030 and 2050 respectively. The MoU provides a comprehensive framework for knowledge sharing, collaborative evaluation of project participation, and assessment of strategic investment opportunities. It also includes the formation of a joint working group to identify areas of mutual interest and support the development of future nuclear energy initiatives. ENEC is pursuing a new phase of investing in, collaborating with and consulting on both large nuclear reactors in addition to advancing new nuclear technologies both locally and internationally. With the Barakah Nuclear Energy Plant fully operational, ENEC is now focused on working with global partners to support the acceleration of nuclear deployment and is committed to working with all responsible nations looking to deploy new nuclear or expand their existing fleets, and MOUs with companies such as Hyundai E&C are a clear demonstration of this approach. Hyundai E&C was the lead contractor in the construction of the Barakah Nuclear Energy Plant, and a proven contributor to the UAE Peaceful Nuclear Energy Programme, which is now recognised as a global benchmark for safe and efficient nuclear development. The signing follows a series of recent agreements between ENEC and leading global operators, technology developers, and energy companies. These partnerships form an integral part of ENEC's broader focus on identifying global investment, collaboration and deployment opportunities to support the rapid delivery of civil nuclear energy, driving energy security and sustainability through the provision of clean baseload electricity. The successful construction of the Barakah Nuclear Energy Plant, earned Hyundai E&C high praise from the global nuclear industry for demonstrating its unique risk management and construction capabilities. As Korea and the UAE deepen their commitment to future cooperation in the energy sector, including nuclear, Hyundai E&C also plans to expand the horizon of their cooperation as a strategic partner, building on the trust and experience developed during the Barakah Nuclear Energy Plant project.
Al Etihad
28-07-2025
- Business
- Al Etihad
ENEC, Hyundai E&C sign MoU to advance global nuclear energy collaboration
28 July 2025 14:24 ABU DHABI (WAM) The Emirates Nuclear Energy Company (ENEC) and Hyundai Engineering & Construction (Hyundai E&C) on Monday signed a strategic Memorandum of Understanding (MoU) in Seoul, Republic of Korea, to jointly explore international nuclear energy collaboration between ENEC and Hyundai E&C builds on the longstanding strategic partnership between the UAE and the Republic of Korea in the nuclear sector and supports both countries' shared goals to advancing peaceful nuclear energy in line with IEA and IAEA projections for a significant global scale-up of nuclear capacity by 2030 and 2050 MoU provides a comprehensive framework for knowledge sharing, collaborative evaluation of project participation, and assessment of strategic investment also includes the formation of a joint working group to identify areas of mutual interest and support the development of future nuclear energy is pursuing a new phase of investing in, collaborating with and consulting on both large nuclear reactors in addition to advancing new nuclear technologies both locally and the Barakah Nuclear Energy Plant fully operational, ENEC is now focused on working with global partners to support the acceleration of nuclear deployment and is committed to working with all responsible nations looking to deploy new nuclear or expand their existing fleets, and MOUs with companies such as Hyundai E&C are a clear demonstration of this E&C was the lead contractor in the construction of the Barakah Nuclear Energy Plant, and a proven contributor to the UAE Peaceful Nuclear Energy Programme, which is now recognised as a global benchmark for safe and efficient nuclear signing follows a series of recent agreements between ENEC and leading global operators, technology developers, and energy partnerships form an integral part of ENEC's broader focus on identifying global investment, collaboration and deployment opportunities to support the rapid delivery of civil nuclear energy, driving energy security and sustainability through the provision of clean baseload successful construction of the Barakah Nuclear Energy Plant, earned Hyundai E&C high praise from the global nuclear industry for demonstrating its unique risk management and construction Korea and the UAE deepen their commitment to future cooperation in the energy sector, including nuclear, Hyundai E&C also plans to expand the horizon of their cooperation as a strategic partner, building on the trust and experience developed during the Barakah Nuclear Energy Plant project.
