Daewoo E&C, SK Ecoplant to cooperate in nuclear power

South Korea’s Daewoo Engineering & Construction Co. (Daewoo E&C) and SK Ecoplant Co. will jointly take on the domestic and overseas markets for nuclear power and plants under the goal of landing leading equipment construction projects at Shin Hanul Nuclear Power Plant Units 3 and 4.

Daewoo E&C on Thursday said it signed a memorandum of understanding with SK Ecoplant on cooperation in nuclear power and plants.

They will jointly enter the domestic and overseas nuclear power and plant markets by exchanging technologies and staff and forming a consultative body if needed. A cooperative system in future energy fields such as hydrogen is also planned.

Daewoo E&C has the know-how to perform the first and second phases of low- and intermediate-level radioactive waste treatment plants and design certifications for commercial nuclear plants.  It participated in related ventures such as Shin-Wolseong Units 1 and 2 as the lead company and did dismantling and process design services for Wolseong Unit 1.

The company is participating in Korea Hydro & Nuclear Power’s Team Korea project for new nuclear plant ventures in the Czech Republic and Poland.

SK Ecoplant has accumulated related capacity and technology by participating in nuclear plant construction, starting with Shin-Gori Units 1 and 2, Saeul Units 1 and 2, and Shin Hanul Units 1 and 2.  It recently changed its focus from construction to energy by securing an integrated solution for green hydrogen production based on renewable energy sources like offshore wind and solar power.

Daewoo E&C expects this cooperation to create synergy in the nuclear plant-linked energy sector with SK Group and its affiliates. In August last year, SK Ecoplant and SK Innovation invested about 300 billion won in Terra Power, a US maker of small modular reactors (SMR), and are promoting the development and commercialization of next-generation nuclear plant technology.

SK Ecoplant was also the first chair of the SMR Alliance, which was launched early this month to raise the competitiveness of the domestic SMR sector.

Daewoo E&C and SK Ecoplant agreed to focus on winning the forthcoming construction order for the main facility of Shin Hanul Nuclear Power Plant Units 3 and 4. This bidding will be the first on the domestic nuclear plant field to be applied with a special proposal for a comprehensive screening and bidding system of high difficulty.

Both sides will also offer a one-stop solution for all areas of nuclear power and the competitiveness of their technical proposals.

Write to Jin-Woo Park at jwp@hankyung.com