Energoatom and NuScale Power to explore commercialization of a NuScale Power plant in Ukraine

PORTLAND, Ore.--(BUSINESS WIRE)-- NuScale Power and the National Nuclear Energy Generating Company of Ukraine (Energoatom) announced today the two companies have signed a Memorandum of Understanding (MOU) to explore the deployment of NuScale Power plants in Ukraine. Energoatom is the Ukrainian state operator for the country’s four nuclear power stations. This agreement is further evidence of growing international interest for NuScale’s small modular reactors (SMRs) and indicative of Ukraine’s desire to find new, innovative sources of clean, reliable, and affordable energy to the country.

Under the MOU, NuScale will support Energoatom’s examination of NuScale’s SMR technology, including a feasibility study for proposed project sites, the development of a project timeline and deliverables, cost studies, technical reviews, licensing and permitting activities, and project specific engineering studies and design work.

“NuScale is excited to partner with Energoatom on the potential deployment of a NuScale Power plant in Ukraine,” said John Hopkins, Chairman and CEO of NuScale Power. “As demonstrated by recent announcements, NuScale is continuing to gain impressive momentum in international interest around the globe. We look forward to demonstrating the immense benefits of our technology to Energoatom and to the people of Ukraine as they seek to decarbonize their energy sector.”

“Energoatom is pleased to establish a cooperation with NuScale Power, a U.S. vendor of small modular reactors. Today, NuScale’s SMR technology is the only technology licensed by the world's most well-regarded and leading regulator. We are considering the possibility of building SMRs in Ukraine to replace carbon-emitting thermal power plants and to increase the load following load capacities of the Ukrainian energy system,” said Petro Kotin, Acting President of NNEGC Energoatom.

In August 2020, NuScale made history as the first and only SMR to receive design approval from the U.S. Nuclear Regulatory Commission and in July of 2021, the Commission published the proposed rule that would certify the NuScale design – a crucial step towards the construction and deployment of this SMR technology. The company maintains strong program momentum toward commercialization of its SMR technology, including supply chain development, standard plant design, planning of plant delivery activities, and startup and commissioning plans.

About NuScale Power

NuScale Power has developed a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, hydrogen production and other process heat applications. This groundbreaking small modular reactor (SMR) design features a fully factory-fabricated NuScale Power Module™ capable of generating 77 MW of electricity using a safer, smaller, and scalable version of pressurized water reactor technology. NuScale's scalable design—power plants that can house up to four, six, or 12 individual power modules—offers the benefits of carbon-free energy and reduces the financial commitments 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, Ore. and has offices in Corvallis, Ore.; Rockville, Md.; Charlotte, N.C.; Richland, Wash.; and London, UK.

About Energoatom

The State Enterprise “National Nuclear Energy Generating Company “Energoatom” was established in October 1996. The Company operates four nuclear power plants with 15 power units, among which 13 power units are VVER-1000 and two power units VVER-440 with total installed capacity of 13,835 MW, 2 hydraulic units of Tashlyk PSP with installed capacity of 302 MW, and 2 hydraulic units of Oleksandrivka HPP with installed capacity of 11.5 MW. Today, Energoatom holds 7th place in the world by nuclear electricity production with 76.4 billion kWh generated in 2020 and 3rd in the world by nuclear share – over 51%.

Image: (from left) John Hopkins, NuScale Power Chairman and Chief Executive Officer, Ukraine Minister of Energy German Galushchenko and Petro Kotin, Acting President of NNEGC Energoatom celebrated the signing of this important agreement at the Ukraine Embassy.