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Bechtel Terminates EPC Agreement with TerraPower on Wyoming Natrium Project

Bechtel Terminates EPC Agreement with TerraPower on Wyoming Natrium Project

Bechtel's departure from the Natrium project exposes thin EPC capacity for first-of-a-kind advanced reactors. The move coincides with Holtec's IPO delay, tightening near-term financing options. Both developments test whether policy-supported timelines can survive contractor transitions and capital-market caution.

M
MERIDIAN
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TerraPower must now either accelerate the Hyundai framework or accept schedule slippage. The Department of Energy's cost-share agreement remains in place, but disbursement hinges on milestones that a new EPC must re-baseline within the next two quarters.

⚡ Prediction

TerraPower: Hyundai Engineering will be named lead EPC for Kemmerer Unit 1 by March 2025 or the project schedule will slip beyond 2031.

Sources (3)

  • [1]
    Washington Business Journal Layoff Filing(https://www.bizjournals.com/washington/news/2024/09/)
  • [2]
    TerraPower-Hyundai Framework Agreement(https://www.terrapower.com/news/2024/08/)
  • [3]
    Holtec SEC Registration Withdrawal Notice(https://www.sec.gov/Archives/edgar/data/)