ENEC and Samsung C&T to collaborate on global nuclear projects

The memorandum of understanding (MoU) says the two companies will look at potential investment in a full range of global and advanced nuclear projects and technologies, also including "investment in US-based nuclear service and equipment companies; and the joint assessment of the development and financing of a nuclear power plant in Romania".

Emirates Nuclear Energy Company (ENEC) CEO Mohamed Al Hammadi, said: "Nuclear energy has a pivotal role in delivering clean electricity at scale to meet rapidly growing global demand. ENEC has demonstrated that with the right strategy and partnerships, nuclear projects can be delivered safely on time, and to the highest national and international standards. Through this MoU with Samsung C&T, we are expanding our global collaboration efforts to enable new nuclear deployment, investment, and innovation. Together, we will explore projects that deliver real impact for countries seeking energy security, decarbonisation, and long-term economic growth."

Samsung C&T CEO Oh Se-cheol said: "To ensure the stable supply of clean energy, nuclear power plays an essential role as a reliable baseload source. By combining the advanced technologies and global networks that both companies have built in the large-scale nuclear and SMR sectors, I look forward to creating synergies through close collaboration."

The companies said that the MoU "brings together ENEC’s global nuclear leadership and Samsung C&T’s deep engineering and infrastructure expertise to support the deployment of clean, dispatchable electricity worldwide".

The MoU follows one signed by ENEC with another South Korean company, Hyundai Engineering & Construction on Monday, which 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.

That followed one signed by ENEC with Westinghouse last week to explore collaboration opportunities for the deployment of advanced nuclear energy solutions in the USA.

ENEC, the developer and operator of the four-unit Barakah nuclear power plant, says it is "now leveraging this expertise through global partnerships to invest, partner and cooperate with other nations and companies to realise the benefits of civil nuclear energy".

Samsung C&T won a contract in April to upgrade the first unit of Romania’s Cernavoda nuclear power plant, and is involved in the front-end engineering design (FEED) for a small modular reactor project in Romania. In March it signed an agreement with Korea Hydro & Nuclear Power to establish a strategic partnership for the co-development of overseas nuclear power plant projects.