SK Innovation

TerraPower announced two agreements with Hyundai Engineering & Construction and SK Innovation to develop and commercialize its Natrium nuclear technology across the United States, Korea and select international markets. Under a framework agreement, TerraPower selected HDEC as its engineering, procurement and construction contractor to build up to eight future Natrium reactors with completion, price and performance guarantees. Separately, TerraPower and SK Innovation signed a term sheet to advance their intent to develop Korea's first commercial Natrium plant and explore collaboration on digital twin technology and artificial intelligence. The first Natrium plant is being developed through the U.S. Department of Energy's Advanced Reactor Demonstration Program and is expected to be completed in 2030.

SK Inc. and KKR have signed definitive agreements to launch Korea's largest renewable energy platform, valued at KRW 2 trillion, approximately $1.3 billion. The platform consolidates renewable assets from SK Innovation, SK ecoplant, and SK eternix, covering solar, onshore and offshore wind, and fuel cells. It currently has about 1.7 gigawatts of capacity in operation, with a development pipeline that will bring total capacity to 10 gigawatts. KKR will have management control in the initial phase, while SK participates as an equity investor. The platform aims to meet surging clean-power demand from AI data centers and semiconductor manufacturing.