Samsung C&T, in collaboration with five companies comprising Romania Nuclear Power Corporation, EEI Infrastructure, Nova Power & Gas, US NuScale Power, and US Fluor Corporation, has signed a contract on June 13 (local time) to construct a 462MW Small Modular Reactor (SMR) in Romania. Additionally, an MOU was signed on June 14 to jointly promote the project.
The initiative in Romania aims to replace a thermal power plant located in Doiseşti with an SMR based on the advanced technology of NuScale Power, a renowned leader in the SMR industry. Commercial operation of the SMR is targeted for 2029.
The signing ceremony, attended by top executives from each company, solidified the commitment to collaborate throughout the entire process, encompassing Romanian SMR business planning, licensing, design, EPC implementation, and financing. Samsung C&T plans to secure SMR-related capabilities, starting with its involvement in basic design and expanding into EPC.
Of utmost significance, the six participating companies have agreed to actively cooperate in expanding the European SMR business, with a particular focus on NuScale Power technology and its application in Romania.
NuScale Power, based in the United States, stands as the sole company to have received design certification from the US Nuclear Regulatory Commission (NRC) and is regarded as the global leader in the field. Notably, NuScale Power is currently working on constructing the world's first SMR project in Idaho, US, with a projected completion date of 2029.
To secure a leading position in the next-generation nuclear power plant technology market, Samsung C&T has made a strategic investment of $70 million in NuScale Power.
“The Romania SMR project is a very important first milestone for achieving the carbon neutral 2050 target and energy transition in Europe," said Samsung C&T CEO Oh Se-chul. "Through participation in this project, we have established a bridgehead to expand the global SMR market.”
Meanwhile, Samsung C&T is expanding its future growth engine as a 'total energy solution provider' by actively strengthening its new business portfolio, including global SMR business and eco-friendly energy business including hydrogen and ammonia.
