en.Wedoany.com Reported - Hyundai Heavy Industries Power Systems Co., Ltd. (HPS), a subsidiary of MiCo Co., Ltd., has signed a share purchase agreement to acquire 100% of the shares of NEM Energy B.V. in the Netherlands from German listed investment company Mutares SE & Co. KGaA, with the transaction scope covering its German subsidiary NEM Balcke-Dürr GmbH. The transaction is expected to close in the third quarter of 2026, subject to customary regulatory approvals.
Founded in 1929, NEM Energy has accumulated nearly a century of engineering expertise in Heat Recovery Steam Generator (HRSG) systems—a core component of Combined Cycle Power Plants (CCPP)—as well as Exhaust and Divertor Systems (EDS), Gas Turbine Emission Reduction Systems (T-SCR), and Heat Exchangers (HXR). The company has long-standing partnerships with major Engineering, Procurement, and Construction (EPC) companies, global gas turbine Original Equipment Manufacturers (OEMs), and utility institutions, establishing a strong brand presence in key markets such as Europe, North America, and the Middle East.
Since 2004, HPS has established manufacturing bases in South Korea, China, and Vietnam. Its subsidiary YHHI, located in Yantai, China, is renowned in the global HRSG market for leading manufacturing quality and cost efficiency. This acquisition combines NEM Energy's proprietary design with HPS's large-scale manufacturing capabilities, equipping MiCo with end-to-end capabilities covering the entire HRSG value chain from design to delivery.
The global power market is currently entering a phase of structural growth, driven primarily by surging electricity demand from Artificial Intelligence (AI) data centers and accelerated electrification. As a key bridging power source to meet this urgent baseload demand, the market for HRSGs—the core component of CCPPs—is expected to see robust growth. HPS CEO Tae Hyung Ha stated that this acquisition marks a decisive moment for the global growth strategy of the MiCo Group and HPS. By integrating NEM Energy's century-long engineering heritage with HPS's manufacturing scale and cost competitiveness, a global energy platform capable of leading the HRSG market will be created, with long-term potential seen in distributed heat and power, renewable energy, and nuclear power sectors.
MiCo Co., Ltd. is a South Korean industrial group with businesses spanning semiconductor components and energy & environment. In the semiconductor sector, it serves clients such as Samsung, SK Hynix, Intel, Micron, TSMC, IMC, and GlobalFoundries through KoMiCo (a supplier of precision cleaning and special coatings for semiconductor equipment) and MiCo Ceramics (a company providing advanced ceramic components for semiconductor manufacturing). In the energy and environment sector, MiCo has built a comprehensive energy solutions portfolio including HPS (boiler engineering and manufacturing), Plantec (formerly a POSCO Group company), MiCoPower (Solid Oxide Fuel Cell technology), and the newly added NEM Energy, enabling the capability to design, manufacture, and deliver energy solutions globally.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
