Doosan signs reactor parts deal for Utah

Doosan Heavy Industries & Construction is going to supply core parts for a new generation of nuclear power reactors in the United States.

Korea’s leading power equipment maker said in a statement Wednesday that it signed an agreement Tuesday to ship nuclear steam supply systems and other key components for small modular reactors (SMRs) - a new generation of less expensive nuclear power plants - made by U.S.-based NuScale Power.

With support from the U.S. Department of Energy, NuScale Power is working with the Utah Associated Municipal Power Systems, a political unit of the Utah state government, to commercially open 12 SMRs producing a total of 720 megawatts of power in Idaho by 2026.

NuScale Power expects its project to receive the first SMR construction approval in the United States from the U.S. Nuclear Regulatory Commission by September 2020.

SMRs, smaller than conventional nuclear fission reactors, are known for increased containment efficiency, better nuclear materials security and less need for on-site construction.

“Demand for a carbon-free, safe and stable supply of electricity is increasing worldwide,” said NuScale Power CEO John Hopkins, who visited Korea to sign the agreement with Doosan Heavy.

“By collaborating with Doosan Heavy Industries & Construction, NuScale Power will showcase innovative technologies that align with the market’s interest and provide long-term energy solutions,” he said.

Although the value of the deal was not revealed, Doosan Heavy expects to supply at least $1.2 billion worth of parts for the SMR project. Doosan Heavy previously signed a memorandum of understanding with the U.S. nuclear power company in April.

To strengthen its partnership with the company, the power equipment maker added it will partner with local investment and securities companies to invest a total of $40 million in NuScale Power shares by the end of this year.

Doosan Heavy has so far supplied parts for 32 nuclear reactors and 114 steam supply facilities in Korea, China and the United Arab Emirates.

BY KO JUN-TAE [ko.juntae@joongang.co.kr]