Westinghouse and Hyundai Engineering & Construction Explore Nuclear Energy Projects, Sign Strategic Cooperation Agreement

SEOUL, South Korea–(BUSINESS WIRE)–Westinghouse Electric Company and Hyundai Engineering & Construction (E&C) signed a strategic cooperation agreement to jointly participate in global AP1000^� plant opportunities. The signing ceremony at Hyundai E&C headquarters was led by Yoon Young-Joon, President and CEO of Hyundai E&C, and David Durham, President of Westinghouse Energy Systems, along with officials from both companies.

Yoon Young-Joon, CEO of Hyundai E&C said, “The Strategic Cooperation agreement enables Hyundai E&C to have an opportunity to demonstrate our exceptional engineering, procurement and construction capabilities applied to Westinghouse’s AP1000 plant. Also, Hyundai’s presence in the green energy sector is expected to grow by jointly participating in the global conventional nuclear power plant projects led by Westinghouse.”

“Westinghouse’s proven AP1000^® technology leads the industry in safety and operational performance; we look forward to collaborating with Hyundai E&C, a global EPC leader, on future AP1000 plant projects to jointly help countries achieve their decarbonization and energy security objectives,” said David Durham, President, Westinghouse Energy Systems.

The AP1000 reactor offers the highest operability within the nuclear industry and continues to set industry records in the ease and duration of commissioning and refueling outages, as well as outstanding availability factors. Additionally, the AP1000 plant has unique, fully passive safety features making it the safest nuclear reactor in the world. This advanced Generation III+ technology is the result of over 60 years of Westinghouse’s successful design and operation of nuclear power plants.

About Westinghouse

Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear technologies to utilities globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and the company’s technology is the basis for nearly one-half of the world’s operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and Twitter.

About Hyundai E&C

Since its foundation in 1947, Hyundai Engineering & Construction has been at the forefront of every milestone in Korea’s remarkable growth. It has successfully carried out more than 850 projects in 62 countries, demonstrating Korea’s construction prowess on the global stage. The company is highly experienced with its advanced technical capabilities and proven track records in nuclear power plant projects. Out of 34 units of nuclear power projects in South Korea and overseas in total, 22 units have or currently being executed by Hyundai E&C. In particular, the UAE Barakah nuclear power plant units 1 to 4, a project that is attracting worldwide attention, is currently being carried out successfully by Hyundai E&C. For more information, visit www.hdec.kr.

Contacts

Cathy Mann, media@westinghouse.com

jin_nyoung@hdec.co.kr