Holtec and Hyundai expand cooperation into decommissioning

As part of the agreement, HDEC will participate in decommissioning activities at Holtec-owned decommissioning sites in the USA to build their capabilities and experience in preparation for decommissioning projects in South Korea, which will be undertaken by the two companies. The agreement also provides for the two companies to further expand their cooperation internationally.

Through its wholly-owned subsidiary, Holtec Decommissioning International, Holtec is actively decommissioning several plants across the USA, including the Oyster Creek plant in New Jersey, the Pilgrim plant in Massachusetts and the Indian Point plant in New York. The company is also scheduled to become owner and licensee of the Palisades plant in Michigan, which is scheduled to shut down on 31 May this year.

"As the owner and licensee of the largest decommissioning fleet in the United States, Holtec has a unique ability to develop strategic partnerships to further enhance our domestic project delivery capabilities and position ourselves for exports into new markets with industry leaders like HDEC," said Holtec Senior Vice President of International Projects Rick Springman.

Under an agreement signed in November, HDEC will perform the detailed design of the balance of plant (BOP) and prepare the full plant construction specification for the SMR-160, which Holtec has been developing since 2010. The Korean company will also develop the integrated 3D plant model for construction using its Building Information Modelling management process. The partnership also provides for project delivery rights for Hyundai, subject to certain provisions.

"These agreements lay the foundation for HDEC to enhance its core competitiveness in new business areas and to diversify its business portfolio by teaming with Holtec, a leading technology company in the global nuclear power business," said HDEC President Yoon Young-joon.

"In addition, HDEC will continue to create sustainable core value by leveraging Holtec's innovative technologies with Hyundai E&C's knowledge and capabilities on executing large and complex projects with safety and quality as top priorities.

"We also see many opportunities to secure core competitiveness in new energy markets such as SMR-160 by making Hyundai E&C's own technologies available to Holtec, such as our solid oxide fuel cells and hydrogen plant technologies that can be incorporated into the SMR-160 BOP design in the future to support our vision of a carbon-free new energy era."