Doosan Heavy Industries to enter small module nuclear power plant business
Doosan Heavy Industries to enter small module nuclear power plant business
  • Lee Jun-sung
  • 승인 2019.12.24 11:32
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Completes its equity investment in NuScale Power in the US
On Nov. 25, Doosan Heavy Industries & Construction, Newscale Power and Fluor corporation executives and employees are taking photos after the second round of equity investment signing ceremony at the Newscale Power's parent company 'Fluor Corporation' located in Dallas. 

(From the third to the left in the front row of the photo, CEO Carlos Hernandez of Fluor, Doosan Heavy Industries & Construction BG Chairman Nagiyong, John Hopkins, Newscale Power, CEO Song Yong-jin, Doosan Heavy Industries & Construction's Strategic/Innovation Division) (Image source = Doosan Heavy Industries)

Doosan Heavy Industries said on Dec. 22 that it will complete its equity investment in NuScale Power, a U.S. nuclear power company, and make inroads into the small-sized module nuclear power plant business.

Doosan Heavy Industries, along with local investors such as IBK Investment & Securities Co., wrapped up a deal to buy shares in NuScale Power and seek business cooperation to supply reactor modules and other devices through a total of three equity investments from July to this month. The total amount of investment is around $44 million.

NuScale Power is developing a small module nuclear power plant with the support of the U.S. Department of Energy (DOE). In July this year, Doosan Heavy signed a business cooperation deal with NuScale Power to supply parts of reactor modules and other devices.

NuScale Power plans to supply small modular nuclear power plants to the first small nuclear power plant project being built in Idaho, the U.S. by the UAMPS (Utah Associated Municipal Power Systems) aimed at commercial operation in 2026.

NuScale Power was recently approved by the Nuclear Regulatory Commission (NRC) for the first time in the world in the screening of a four-stage design certification application.

NRC operates a system of design certification procedures consisting of a total of six steps, and is expected to complete the final design certification in September next year after passing the four-stage most technically important certification process.

"We are expecting to expand our market to the U.S. nuclear power plant market and Canada and the U.K. through this cooperation, as we have successfully completed our business and the process of design certification has been carried out without a hitch." said a company official.

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