The Export-Import Bank of the United States (EXIM) has issued a letter of interest for potential support of up to US$99 million to RoPower Nuclear SA, building on previous US government support for the development of Romania’s first Small Modular Units (SMR) reactor plant using technology from the US the company NuScale Power and the engineering and construction services of Fluor Corporation, the funds are intended for design, writes News.ro. This was stated by US President Joe Biden at the G7 summit in Japan.

Together with expressions of interest from public and private partners in Japan, the Republic of Korea and the United Arab Emirates, initial support for the project is up to $275 million, according to a White House information bulletin on infrastructure and investment partnerships. global at the G7 summit.

These commitments, along with the new commitments from Romania, support the procurement of materials with long lead times, the completion of preliminary design and engineering (FEED) analysis, the provision of project management expertise and plant regulatory activities.

In addition, DFC and US EXIM have also issued letters of interest for potential support of up to US$1 billion and US$3 billion, respectively, for the implementation of the project.

Once built, the SMR plant will pave the way for new innovative energy technologies, accelerate the clean energy transition, create thousands of jobs and strengthen European energy security, while meeting the highest standards of nuclear safety, security and non-proliferation.

Iohannis after Joe Biden’s statement at the G7: “Support for Romania’s goal is important”

President Klaus Iohannis welcomed US President Joe Biden’s statement regarding the project of small modular reactors in Romania. “These initiatives are an important support for Romania’s goal to be at the forefront of developing a revolutionary nuclear energy infrastructure,” Iohannis said in a Twitter post on Saturday.

“I welcome the announcement made today by the President of the United States of America, Joe Biden, at the G7 Summit, regarding the support of the United States and Japan, partners South Korea and the United Arab Emirates of up to $275 million for the Small Modular Reactor (SMR) project from Romania, and as well as letters of interest from US EXIM and the US International Development Finance Corporation regarding additional support of up to $4 billion for project implementation,” the head of state wrote. .

He states that these initiatives represent significant support for Romania’s goal of being at the forefront of developing a revolutionary nuclear energy infrastructure.

“Implementation of the SMR project in partnership with the USA will allow for the production of clean energy and increase energy security,” concludes Yohannis.

Chuke: “Romania will become a pole of international importance from the point of view of nuclear energy production”

Prime Minister Nicolae Cuke also welcomed the statement of American President Joe Biden, saying that Romania is placed on the clean energy map in the world thanks to the constant and substantial support of the United States of America and the consistent vision of the Romanian state for the development of the national civil nuclear program.

“I welcome the statement made by US President Joe Biden during the G7 summit, at an important moment for Romania and for our efforts to provide affordable energy for citizens and the economy, produced in environmentally friendly conditions. The United States of America and multinational public and private partners from the United States, Japan, the Republic of Korea, and the United Arab Emirates will finance a small modular reactor (SMR) project in Romania for up to $275 million, and the U.S. Export-Import Bank (EXIM) and The US International Development Finance Corporation (DFC) issued letters of interest with the aim of potentially providing financial support of up to $3 billion and $1 billion, respectively, for the development of the project,” – Prime. Minister Nikolae Chuke wrote about this on Facebook.

The head of the executive branch thanked the partners from the USA, Japan, the Republic of Korea and the United Arab Emirates for the trust they have in Romania. “I am convinced that together we will develop this safe, efficient and highly effective project. Being the second country after the USA to implement the SMR technology of the American company NuScale, Romania will become a relevant pole at the international level from the point of view of nuclear energy production,” said Prime Minister Čuke.

The head of the executive power noted that the Government encourages these investments. “The energy crisis we dealt with last year showed once again that we are capable of being energy independent and strengthening the profile of this sector in line with the European vision of environmental protection and decarbonisation goals. Clean, safe and affordable energy for our citizens and economies is a responsible approach and the future of this sector, and the actions of the Romanian government are limited to this goal,” says Cucê.

In November 2021, Nuclearelectrica and NuScale Power signed a cooperation agreement for the construction of a small modular reactor in Romania

Nuclearelectrica CEO Kosmin Gitsa and NuScale Power President and General Manager John Hopkins signed the official documents of the agreement on November 4, 2021 in Glasgow, on the basis of which the two companies will cooperate in the construction. of a small modular nuclear reactor (Small Modular Reactor – SMR) in Romania.

The signing of the documents took place after the US administration announced that the American company NuScale Power will build a small modular nuclear reactor in Romania.

According to the White House, the plant will be built in partnership with NuScale Power. The commercial agreement includes a 12-module NuScale power plant that will initially create more than 3,700* jobs in the US and Romania, with the potential for up to 30,000 as the project progresses.

The implementation of SMR technology will contribute to a carbon-free energy sector and a zero-emissions future, the White House also said in a statement.

In January, Nuclearelectrica announced that the US Trade and Development Agency (USTDA) awarded a grant of $1,277,115 to finance the cost of identifying potential nuclear sites compatible with SMR (Small Modular Reactor) technologies in Romania. Nuclearelectrica says it is interested in evaluating the development of small modular reactors as a long-term solution, in addition to the construction of reactors 3 and 4 at Chernavod.

In March 2019, a memorandum was signed between Nuclearelectrica and Americans from NuScale Power on the exchange of technical and economic information with the aim of developing the nuclear industry in Romania through the construction of small modular reactors.

• *initially it was stated that we are talking about 6,000 jobs

Small nuclear reactors, big problems – what is SMR technology, what are its advantages and why there is still work to be done

HotNews.ro is featured in a previous article that few countries in the world are building small nuclear reactors, and proponents of the technology say we are facing a safer and cheaper form of nuclear power that produces electricity with minimal carbon emissions. Skeptics say that nuclear power is not safe, and that these small reactors still have a lot to prove and are far from being widely adopted.

Nuclear power has big image and cost problems, but countries like France, Slovakia or Ukraine depend on it, and many say this type of energy has a big future in SMR mini-reactor technology.

Proponents of small reactors say it would be a much safer technology because there would be much less radioactive material to work with, and small reactors are much harder to overheat because their cores produce less heat. In addition, they can be installed in places where large power plants could not be built, and, at least in theory, the costs would be much lower.

Worldwide, there are more than 50 different designs and concepts for these reactors in various stages of development, but not a single such complex is operational for electricity generation. The general consensus is that more modular mini-power plants will be ready after 2030, but so far the technology has not proven its reliability.

Critics say the proposed reactors, even if they are smaller, still have nuclear technology and suffer from the disadvantages that this type of energy has. Costs will be high, construction will take longer than anticipated, and safety concerns will remain.

NuScale Power, which will build a complex in Romania, has been conducting research in this field for more than a decade, has created a series of prototypes and has a complex in the American state of Idaho. However, it will not be ready until 2030 and will cost more than $6 billion, although estimates four years ago indicated $3.7 billion.

Perhaps some of the developed countries are abandoning everything related to nuclear energy and do not give the green light to mini-reactor projects in which they do not believe. Under these conditions, industry companies may be tempted to lobby in smaller countries where they can install their SMR complexes, also benefiting from less stringent security regulations.