Wednesday, October 2, 2024

Romania’s small modular reactor (SMR) project targets an installed capacity of 462 MWe and uses NuScale technology with six modules at the former coal-fired power plant site in Doicești – about 90 kilometers northwest of Bucharest – each with an installed capacity of 77 MWe. It is estimated that the SMR project will create nearly 200 permanent jobs, 1,500 construction jobs and 2,300 manufacturing and component assembly jobs, as well as plant operations and maintenance jobs, over the plant’s 60-year lifespan.

The U.S.-Romania partnership on SMRs began in March 2019 with a memorandum of understanding between state-owned nuclear energy company Nuclearelectrica and NuScale to explore possible developments. In 2021, NuScale and Nuclearelectrica signed a cooperation agreement to build a NuScale VOYGR-6 power plant in Romania by the end of the decade. In June 2022, the two companies signed a memorandum of understanding to begin conducting engineering studies, technical reviews, and licensing and permitting activities for the project.

NuScale Power and RoPower Nuclear – co-owned by Nuclearelectrica and Nova Power & Gas – completed Phase 1 of a Front-End Engineering and Design (FEED) study in late 2023 analyzing the preferred location of the first VOYGR-6 SMR power plant became.

In July, Nuclearelectrica and RoPower Nuclear signed the FEED Phase 2 contract with Fluor Corporation of the USA for the Doicești SMR project. Under the FEED 2 contract, Fluor RoPower Nuclear will provide the design and engineering services necessary to implement the project, culminating in an updated cost estimate and schedule as well as the safety analyzes required for a final investment decision.

Exim Bank issued an expression of interest in May 2023 for potential support of up to $99 million for RoPower Nuclear for design studies – along with expressions of interest from public and private partners from Japan, South Korea and the United Arab Emirates – totaling $99 million up to 275 US dollars million euros for early-stage funding. These commitments, along with new commitments from Romania, support the procurement of long-lead materials, completion of FEED analysis, provision of project management experts and on-site regulatory activities. In addition, the US International Development Finance Corporation (DFC) and Exim have issued expressions of interest for potential support of up to US$1 billion and US$3 billion, respectively, for project implementation.

Exim’s board has now approved a final commitment for a $98 million loan under its Engineering Multiplier program for pre-project services. It is estimated that the transaction would create 400 jobs in the United States.

In addition to Nuclearelectrica, RoPower Nuclear, Nova Power & Gas (part of the E-INFRA group and co-owner of RoPower) and Fluor, Samsung C&T Corporation and Sargent & Lundy are also involved in work intended to facilitate the development and deployment of NuScale SMR power plants in Romania.

Exim Bank is the official export credit agency of the United States, tasked with supporting American jobs by facilitating U.S. exports. To increase American competitiveness and help U.S. companies compete for global sales, Exim offers financing including export credit insurance, working capital guarantees, loan guarantees and direct loans.