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Released June 07, 2023 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--A number of European nuclear projects are advancing, with a delivery plan agreed for Poland's first nuclear project, European Commission (EC) approval for changes to Hungary's Paks II project and funding raised for Romania's first small modular reactor (SMR).
In Poland, Westinghouse Electric Company (Cranberry Township, Pennsylvania) has signed an agreement outlining a plan for the delivery of the country's first nuclear power plant with Bechtel Corporation and state-owned Polskie Elektrownie Jądrowe (PEJ). The company, which landed the contract from the Polish government last November, said that the contract lays the foundation for design activity to start later this year and the construction to start in 2025. The government is driving the program to build 6 to 9 gigawatts (GW) of nuclear power, starting with three reactors at the Lubiatowo-Kopalino site in northern Poland. The company will use three Generation III+ AP1000 reactors with a combined output of 3,750 megawatts (MW), with the first reactor estimated to be commissioned in 2033. For additional information, see November 22, 2022, article - Poland's First Nuclear Plant Project Goes to Westinghouse.
"Today's agreement is a demonstration of the bond that brings these three great U.S. and Polish companies together as one team committed to one goal," said Mark Brzezinski, United States Ambassador to Poland. "That goal is to use the world's best technology to help Poland build a nuclear power plant which will provide safe, affordable, and clean power for generations to come."
In Romania, a project to build one of Europe's first SMRs using technology from NuScale Power Corporation (NYSE:SMR) (Portland, Oregon) received a welcome boost with funding of up US$275 million from the Biden Administration and international corporate backers to advance the deployment. The funding also came with a Letter of Interest from the U.S. Export-Import Bank (EXIM) and the U.S. International Development Finance Corporation for potential financial support of up to US$3 billion and US$1 billion, respectively, for project deployment. The companies aim to deploy a 462-megawatt (MW) VOYGR-6 power plant to help Romania meet energy security and decarbonization goals.
"Support from the Biden Administration and international partners is a signal to energy markets around the world that NuScale SMRs are an important new technology solution to global decarbonization and that Romania has the capabilities and experience to support its deployment," said John Hopkins, NuScale Power president and chief executive officer. "We are thrilled public-private partnerships are helping deploy our leading SMR technology as soon as 2029."
In Hungary, which wants to build a new nuclear power plant, the European Commission (EC) granted permission for contract changes Hungary has made with project provider, Russia's state-owned Rosatom (Moscow, Russia). The original contract was agreed nine years ago, and the changes relate to construction and financing elements, the EC said. Hungary is determined to continue the project despite Russia's invasion of Ukraine and the resulting European sanctions that have blocked business links between European Union (EU) member countries and Russia. Rosatom is also providing all of the finance for the construction of two reactors at Paks II, located near the existing Paks nuclear plant, south of Budapest.
In a statement to World Nuclear News, the EC, said: "The notified amendments of the contracts concern both the construction contract as well as financing of the Paks II nuclear power plant between Hungary and Russia. Any further amendments of the contracts in the future will have to be notified as well. In its reply to the Hungarian authorities, the commission has also reminded Hungary that the continued implementation of the agreements and contracts for Paks II does not contribute to the EU's aim to reduce its energy dependencies on Russia, and to diversify its energy sources. It is important that throughout the performance of the agreements, Hungary ensures compliance with the EU's sanctions framework."
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
In Poland, Westinghouse Electric Company (Cranberry Township, Pennsylvania) has signed an agreement outlining a plan for the delivery of the country's first nuclear power plant with Bechtel Corporation and state-owned Polskie Elektrownie Jądrowe (PEJ). The company, which landed the contract from the Polish government last November, said that the contract lays the foundation for design activity to start later this year and the construction to start in 2025. The government is driving the program to build 6 to 9 gigawatts (GW) of nuclear power, starting with three reactors at the Lubiatowo-Kopalino site in northern Poland. The company will use three Generation III+ AP1000 reactors with a combined output of 3,750 megawatts (MW), with the first reactor estimated to be commissioned in 2033. For additional information, see November 22, 2022, article - Poland's First Nuclear Plant Project Goes to Westinghouse.
"Today's agreement is a demonstration of the bond that brings these three great U.S. and Polish companies together as one team committed to one goal," said Mark Brzezinski, United States Ambassador to Poland. "That goal is to use the world's best technology to help Poland build a nuclear power plant which will provide safe, affordable, and clean power for generations to come."
In Romania, a project to build one of Europe's first SMRs using technology from NuScale Power Corporation (NYSE:SMR) (Portland, Oregon) received a welcome boost with funding of up US$275 million from the Biden Administration and international corporate backers to advance the deployment. The funding also came with a Letter of Interest from the U.S. Export-Import Bank (EXIM) and the U.S. International Development Finance Corporation for potential financial support of up to US$3 billion and US$1 billion, respectively, for project deployment. The companies aim to deploy a 462-megawatt (MW) VOYGR-6 power plant to help Romania meet energy security and decarbonization goals.
"Support from the Biden Administration and international partners is a signal to energy markets around the world that NuScale SMRs are an important new technology solution to global decarbonization and that Romania has the capabilities and experience to support its deployment," said John Hopkins, NuScale Power president and chief executive officer. "We are thrilled public-private partnerships are helping deploy our leading SMR technology as soon as 2029."
In Hungary, which wants to build a new nuclear power plant, the European Commission (EC) granted permission for contract changes Hungary has made with project provider, Russia's state-owned Rosatom (Moscow, Russia). The original contract was agreed nine years ago, and the changes relate to construction and financing elements, the EC said. Hungary is determined to continue the project despite Russia's invasion of Ukraine and the resulting European sanctions that have blocked business links between European Union (EU) member countries and Russia. Rosatom is also providing all of the finance for the construction of two reactors at Paks II, located near the existing Paks nuclear plant, south of Budapest.
In a statement to World Nuclear News, the EC, said: "The notified amendments of the contracts concern both the construction contract as well as financing of the Paks II nuclear power plant between Hungary and Russia. Any further amendments of the contracts in the future will have to be notified as well. In its reply to the Hungarian authorities, the commission has also reminded Hungary that the continued implementation of the agreements and contracts for Paks II does not contribute to the EU's aim to reduce its energy dependencies on Russia, and to diversify its energy sources. It is important that throughout the performance of the agreements, Hungary ensures compliance with the EU's sanctions framework."
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
