The Emirates Nuclear Energy Company (ENEC) and Hyundai Engineering & Construction (Hyundai E&C) have entered into a memorandum of understanding (MoU) in Seoul to explore global opportunities within the nuclear energy sector, as the need for clean and scalable electricity continues to rise.
This agreement builds upon the long-standing collaboration between the UAE and Korea in the nuclear field and aims to facilitate the development of civil nuclear power in line with expectations from the International Energy Agency (IEA) and the International Atomic Energy Agency (IAEA), which both predict a significant increase in global nuclear capacity by 2030 and 2050.
The MoU provides a framework for sharing knowledge, evaluating joint projects, and assessing strategic investments, and establishes a joint working group tasked with identifying mutual interests.
This initiative aligns with ENEC’s international strategy, which seeks to collaborate with global entities to expedite the implementation of large-scale and advanced nuclear technologies.
ENEC’s Commitment to Global Collaboration
With the Barakah Nuclear Energy Plant now fully operational, ENEC is shifting its focus towards international collaboration and advisory roles to promote the swift deployment of nuclear energy. The company emphasized that agreements with firms like Hyundai E&C clearly reflect this direction.
Hyundai E&C, which led the construction of the Barakah Plant, is recognized for its vital role in the UAE’s Peaceful Nuclear Energy Program, regarded as a benchmark for safe and efficient nuclear advancement.
The firm intends to utilize its experience gained from Barakah to foster strategic alliances for upcoming international projects.
This partnership emerges amidst a renewed interest in nuclear energy investments, spurred by the rising demand for electricity from artificial intelligence, large-scale data centers, heavy industries, and the accelerating electrification of various sectors. Given the growing pressures on global power grids, nuclear energy is increasingly seen as a reliable, low-carbon solution for essential power generation.
As noted by the IEA, nuclear capacity needs to grow by an average of 15 gigawatts annually through 2030, equating to a little over 3 percent annual increase. The IAEA anticipates an even more ambitious expansion, predicting that capacity could potentially double by 2050.
The MoU adds to a series of international partnerships ENEC has established with operators, developers, and energy firms as part of its commitment to scaling civil nuclear energy, enhancing energy security, and lowering carbon emissions. The four-unit Barakah Plant has provided ENEC with practical expertise in efficient and timely nuclear deployment, serving as a foundation for global collaborations.
Hyundai E&C has garnered worldwide recognition for its contributions to the Barakah project, especially in risk management and construction execution.
As the cooperation between the UAE and Korea in the energy sector deepens, both parties anticipate expanding their strategic involvement in the international nuclear domain.
MoU Established with Samsung
In related news, ENEC has also signed a memorandum of understanding with Samsung C&T Corporation to explore collaborative opportunities in civil nuclear energy development and investment worldwide. This agreement merges ENEC’s nuclear expertise with Samsung C&T’s engineering and infrastructure capabilities to facilitate the global rollout of clean energy.
The MoU outlines cooperative efforts across various initiatives, including investments in traditional nuclear projects such as new constructions, restarts, and brownfield mergers and acquisitions in the United States; the future deployment of Small Modular Reactors (SMRs) in the UAE, the US, and other markets; production of hydrogen powered by nuclear energy in South Korea and beyond; and a joint evaluation of a nuclear power plant project in Romania.
ENEC’s CEO, Mohamed Al Hammadi, stated that this agreement builds upon ENEC’s successful record of delivering nuclear projects safely, on time, and adhering to the highest quality standards.
Samsung C&T’s CEO, Oh Sechul, noted that this partnership harnesses both companies’ expertise in the nuclear and SMR sectors to foster synergies that will support a stable, clean energy supply.
This signing reinforces ENEC’s international ADVANCE program and aligns with the UAE’s Net Zero 2050 Strategy, positioning ENEC as a vital player in facilitating new global nuclear ventures.
With the Barakah Nuclear Energy Plant now producing 40 terawatt-hours of clean electricity annually, meeting 25 percent of the UAE’s energy requirements, ENEC is committed to amplifying its impact through international cooperation, aiding energy security, promoting decarbonization, and fostering sustainable growth.