Hyundai Engineering & Construction is preparing to break ground on its first small modular reactor project in the United States later this year, advancing South Korea’s nuclear technology footprint overseas.
The South Korean construction giant will build two 300-megawatt SMRs at the Palisades Nuclear Power Plant site in Covert, Michigan, in partnership with US-based Holtec International. The “Palisades SMR-300” project is scheduled to begin construction by year-end with commercial operations targeted for 2030.
Site selection was finalized in February 2024, with ground surveys, geological studies and environmental impact assessments currently underway. Design work is expected to be completed in the second quarter of 2025.
Hyundai E&C CEO Lee Han-woo hosted a “Mission 2030” event at the project site on February 25 with Holtec President Chris Singh, where Lee emphasized the company’s commitment to US power projects and SMR technology.
The partnership includes an expanded cooperation agreement allowing Hyundai E&C to extend its exclusive rights to Holtec’s SMR business globally. The companies will form a joint organization for project management and collaborate on nuclear projects beyond North America.
Singh cited Hyundai E&C’s successful completion of the United Arab Emirates’ nuclear power plant as evidence of the company’s project management capabilities, expressing confidence in the partnership’s ability to successfully deploy the first SMR-300 in the United States.
