Nuscale Power is working with South Korea Doosan Enerbility Co., Ltd. (Doosan) and Export-Import Bank of Korea (KEXIM) to work together and support NuScale’s small modular reactor (SMR) deployment. This highlights the domestic and global manufacturing opportunities to build SMRs around the world.
This is part of the development of a global supply chain, and Doosan and NuScale commit to strengthening their cooperation to deploy NuScale VOYGR™ plants globally. Specifically, Doosan committed to helping establish a US-based supply chain for NuScale Power Module™ production through capacity expansion and manufacturing technology advancement.
South Korea GS Energy has signed a memorandum of understanding (MoU) with Uljin County in North Gyeongsang Province, South Korea, to consider the use of NuScale Power’s small modular reactor (SMR) technology to provide heat and power to the planned Uljin Nuclear Hydrogen National Industrial Complex.
GS Energy and Nuscale will work on a feasibility study for the construction of a NuScale VOYGR-6 SMR power plant within the Nuclear Hydrogen National Industrial Complex. They will also cooperate in supplying electricity and heat to the complex and involve partner companies in the project.
Uljin County plans to build an SMR plant with six NuScale SMR modules. Construction of the SMR plant would begin in 2028, considering that it is projected to take about five years to receive approval for its construction from the Korean government. It is expected to be completed by 2030 when the industrial park is scheduled to open. Once the SMR plant is completed, GS Energy will operate it.
Construction of the KRW400 billion (USD300 million) Uljin Nuclear Hydrogen National Industrial Complex in Ulchin began in 2022 as part of South Korea’s efforts to promote hydrogen as a future energy source and achieve carbon neutrality by 2050. The Korean government plans to build national industrial complexes to foster high-tech industries such as semiconductors, future mobilities and robots in 14 regions across the country in addition to the world’s largest semiconductor cluster planned in the Seoul metropolitan area.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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NuScale warrants were up 35% today.
The fact they Doosan has started reactor RPV forging means this is one of the few new nuclear/SMR groups to be actually making hardware.
The target price went up from 58 per MW in 2021 to 119 per MW in 2023. I didn’t subtract subsidy.
Still the design is interesting and wish them best.
You should see what happened to my family’s food bills. Also you should see what happened to Germany’s energy bills!
One of the few good things to come out of the land war in eastern Europe is a renewal of nuclear power.
I’m not holding my breath on seeing the reactors, though. And , I am afraid, the only nuclear power we will get from this war will be rather.. explosive..
I would be glad to be proven wrong
Love this company, once they have permits, from first concrete to grid connected is 30 months. Also ,perfect for renewables , as they can close a module in 5 seconds, using the steam bypass valve.