SK weighs major equity investment in U.S. nuclear company Westinghouse Electric Company

[Financial News] SK Group is reportedly considering a strategic equity investment in U.S. nuclear power company Westinghouse Electric Company by forming a consortium with domestic nuclear industry firms. If the investment goes through, SK’s nuclear business is expected to expand from next-generation small modular reactors (SMRs) to large nuclear power plants.
According to industry sources on the 14th, SK Group is considering acquiring a stake in Westinghouse Electric Company. SK has been expanding its investment in the global nuclear power business at the group level to address rising electricity demand in the age of artificial intelligence (AI).
Samsung C&T, Hyundai Engineering & Construction, and Doosan Enerbility are also reportedly considering joining the consortium led by SK, but those companies said that “nothing has been finalized.” SK Group said, “Various options are being considered, but nothing has been finalized.”
The United States and South Korea recently agreed to build eight large nuclear power units in the U.S., investing up to $120 billion from a $200 billion U.S. investment fund, and to have a South Korean private-sector consortium secure a 5–10% stake in Westinghouse Electric Company. The terms also included acquiring the stake at a 10% discount to the IPO price when the company goes public.
Industry sources estimate that Westinghouse Electric Company would be valued at $20 billion to $30 billion upon listing. If South Korean companies jointly acquire a stake, an investment worth several trillion won is expected.
[email protected] Kim Hak-jae, Jeon Min-kyung Reporter