Samsung C&T Expands Green Initiatives with SMR and Hydrogen Projects
Key Ideas
- Samsung C&T collaborates with global engineering giants on the design of a Romanian Small Modular Reactor (SMR) to replace a coal-fired plant by 2030.
- The company focuses on SMR, hydrogen, and bio sectors for future growth engines, with anticipation of green hydrogen business flourishing by 2030.
- Investment in NuScale enhances credibility for the Romanian SMR project, while actively participating in green hydrogen projects domestically and internationally.
- Samsung C&T enters the corporate bond market to raise 300 billion won for its ambitious projects, despite falling short of annual order targets.
Samsung C&T has announced significant developments in its green initiatives, particularly in Small Modular Reactors (SMR) and hydrogen projects. The company, in collaboration with Fluor, NuScale, and Sargent & Lundy, plans to design a 462 MW SMR in Romania to replace a coal-fired power plant by 2030. The focus on SMR, hydrogen, and bio sectors aims to secure future growth engines, with the anticipation of flourishing green hydrogen businesses by 2030. Samsung C&T's investment in NuScale, a leading U.S. company in SMR technology, enhances the credibility of the Romanian SMR project. Additionally, the company is actively participating in both domestic and international green hydrogen projects, positioning itself to benefit from the projected growth in the global hydrogen market. Through partnerships and collaborations with key industry players, Samsung C&T aims to diversify its business portfolio and offer sustainable energy solutions. The company's financial planning includes raising 300 billion won through corporate bonds to support its ambitious projects. Despite falling short of its annual order targets, Samsung C&T remains optimistic about securing large-scale orders through its ventures in SMR and green hydrogen.