NuScale and Nuclearelectrica Reach Agreement at COP26 to Launch Deployment of First Small Modular Reactor in Europe | Your money

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PORTLAND, Oregon – (BUSINESS WIRE) – November 4, 2021–

At the United Nations Climate Change Conference (COP26), US Secretary of Energy Jennifer M. Granholm, the US Department of Energy and Romanian Minister of Energy Virgil Popescu stressed that more early in the day NuScale Power and the Romanian company SN Nuclearelectrica SA signed an association agreement. Advance the deployment of NuScale’s innovative Small Modular Reactor (SMR) technology. As a result of this partnership, Romania has the potential to host the first deployment of SMR in Europe and to become a catalyst for SMR in the region, as well as a base to support the exploitation of this new technology in d ‘other countries.

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Cosmin Ghita, Managing Director, Nuclearelectrica and John Hopkins, President and CEO, NuScale Power (Photo: Business Wire)

The association agreement between NuScale Power, whose SMR is the first and only small modular reactor to receive design approval from the United States Nuclear Regulatory Commission, and Nuclearelectrica, a Romanian nuclear power producer , comes at a pivotal time as senior politicians around the world. discuss the urgent need to accelerate the clean energy transition. Discussions at the signing ceremony echoed this call to action and reinforced how NuScale’s MRSs can support international climate goals, help mitigate the worst impacts of climate change and boost global prosperity.

As part of the association agreement, NuScale will help Nuclearelectrica assess its technology and, together, the organizations will take steps to deploy a first 6-module, 462 MWe NuScale plant in Romania as of 2027/2028. The NuScale 6-module power plant is expected to generate 193 permanent power plant jobs, 1,500 construction jobs, 2,300 manufacturing jobs and help Romania avoid 4 million tonnes of CO2 emissions per year.

“The United States sees nuclear power as a key technology in the global effort to reduce emissions, expand economic opportunities and ultimately fight climate change,” said the US secretary at Energy, Jennifer M. Granholm. “We have supported the development of MRS for decades, and it is extremely gratifying to celebrate this important milestone for Romania to help it achieve its climate goals.

“On the basis of the Integrated National Plan in the Field of Energy and Climate Change (PNIESC), Romania plans to reduce its CO2 emissions by 55% until 2030 and its dependence on imports of 20.8% today to 17.8% in 2030. Nuclear energy has an essential role. to achieve these decarbonization goals and ensure the energy transition to a carbon-free economy, currently contributing 33% of total CO2-free energy production. After the implementation of strategic investment projects, this contribution will increase exponentially, while ensuring the energy security of Romania and the region. The construction and operation of small modular reactors will have proven environmental benefits of clean, emission-free energy, bringing direct socio-economic benefits to the community it serves and generating continued prosperity for industry and society. regional economies. We aim to develop the first SMR this decade to meet our critical energy demand and our green goals securing a quality future for generations to come. Decarbonization with nuclear power is possible! I welcome and support the signing of the partnership between the two companies, based on the long history of our two countries. Bilateral relations between Romania and the United States in the nuclear field began in the 1980s and since then have brought many benefits, including economic stability and energy security. I thank our American partners and Secretary Granholm for having supported and approved the nuclear programs ”, declared Virgil Popescu, Romanian Minister of Energy.

“As Romania aims to diversify its energy portfolio and meet its climate goals, NuScale’s cutting-edge technology presents the perfect safe, cost-effective and scalable solution,” said John Hopkins, President and CEO of NuScale Power. “As world leaders highlight how critical this moment is to tackle climate change, NuScale’s SMR technology not only represents a path to meet Romania’s climate commitments, but is also a way to boost economic growth. local. NuScale is excited to work with Nuclearelectrica and showcase the many benefits our technology will bring. “

“Nuclearelectrica is proud to be at the forefront, valuing its experience of operating according to standards of excellence and one of the most efficient nuclear power plants in the world, in the development of the first SMRs in Europe, a source of 100% carbon-free energy that will reduce environmental footprints and put us on the path to a zero-emission world. And at the same time, will train a new generation of engineers, who will benefit from the 25 years of experience of Nuclearelectrica and the revolutionary innovation of NuScale’s SMR technology. What an exciting time to contribute to the future of energy, to build a clean legacy for generations to come ”, Cosmin Ghita, CEO of Nuclearelectrica.

Watch the signing ceremony

Specifically, the association agreement outlines important next steps for Nuclearelectrica and NuScale to develop safe and affordable zero-carbon baseline power technology, with a focus on retired coal-fired power plants. . It will support the Romanian government’s National Recovery and Resilience Plan to phase out 4.59 GWe of coal-fired power generation by 2032. By reallocating coal-fired power plants, Nuclearelectrica and NuScale can help communities and workers in plants to participate in the transition to carbon-free energy, while continuing to provide local economic benefits. This Association Agreement serves as a catalyst for deployments to other Tri-Seas Initiative countries seeking to decarbonize.

This agreement follows a memorandum of understanding signed between Nuclearelectrica and NuScale in 2019 to assess the development, authorization and construction of a NuScale SMR in Romania. The new Association Agreement reinforces the commitment to facilitate the deployment of a NuScale SMR in Romania.

In August 2020, NuScale made history as the first and only SMR to receive design approval from the United States Nuclear Regulatory Commission, a critical step towards the construction and deployment of this SMR technology. The company maintains strong program momentum towards commercializing its SMR technology, including supply chain development, standard factory design, planning of factory delivery activities and start-up plans and commissioning.

About NuScale Power

NuScale Power has developed a new modular light water reactor nuclear power plant to provide power for power generation, district heating, desalination, hydrogen production and other process heat applications. This revolutionary Small Modular Reactor (SMR) design features a fully factory-built NuScale Power Module ™ capable of generating 77 MW of electricity using a safer, smaller, and scalable version of nuclear reactor technology. pressurized water. NuScale’s scalable design (power plants that can accommodate up to four, six or twelve individual power modules) delivers the benefits of carbon-free power and reduces the financial liabilities associated with gigawatt-sized nuclear facilities. The majority investor in NuScale is Fluor Corporation, a global engineering, procurement and construction company with a 70-year history in commercial nuclear power.

NuScale is headquartered in Portland, OR, and has offices in Corvallis, OR; Rockville, MD; Charlotte, North Carolina; Richland, WA; and London, UK. Follow us on twitter: @ NuScale — Power, Facebook: NuScale Power, LLC, LinkedIn: NuScale-Power, and Instagram: nuscale — power. Visit NuScale Power website.

About Nuclearelectrica

The National Company “Nuclearelectrica” SA is the Romanian national company for the production of electricity, heat and nuclear fuel, which operates under the authority of the Romanian Ministry of Energy, the State holding 82.49% of the shares and the other shareholders, 17.50%, after the listing of the company on the stock market in 2013.

The Cernavoda nuclear power plant branch operates two CANDU nuclear units, which are two of the best performing units among more than 400 nuclear power plants worldwide, a nuclear fuel plant and is on track to achieve an integrated fuel cycle by acquiring a uranium concentrate processing line to support the company’s long-term investment projects.

Nuclearelectrica has a major role at the national level, contributing over 18% of nuclear energy in total energy production and 33% in total CO2-free energy production in Romania.

www.nuclearelectrica.ro

View source version on businesswire.com:https://www.businesswire.com/news/home/20211104006088/en/

CONTACT: Diane Hughes, Vice-President, Marketing and Communications, NuScale Power

[email protected]

(C) (503) 270-9329 Tones Ludmila, Advisor to the CEO, SN Nuclearelectrica

[email protected]

0040-730044468

KEYWORD: EUROPE ROMANIA UNITED STATES NORTH AMERICA OREGON

INDUSTRY KEYWORD: ALTERNATIVE ENERGY ENERGY ENVIRONMENT NUCLEAR SERVICES

SOURCE: NuScale Power

Copyright Business Wire 2021.

PUB: 04/11/21 13:13 / DISC: 04/11/21 13:13

http://www.businesswire.com/news/home/20211104006088/en



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