SMR - NuScale wins $275M global public-private commitment for power plant in Romania

2023-05-22 07:27:46 ET

NuScale Power ( NYSE: SMR ) +6.9% pre-market Monday after the Biden Administration announced, along with multinational partners, public-private commitments to provide as much as $275M to advance the deployment of a NuScale power plant in Romania.

Additionally, the U.S Export-Import Bank and U.S. International Development Finance Corporation issued letters of interest for potential support of up to $3B and $1B, respectively, for project deployment.

NuScale ( SMR ) and RoPower Nuclear S.A. currently are conducting a Phase 1 FEED study to analyze the preferred site, a former coal plant in Doicesti, Romania.

Following the results of the FEED studies, the companies hope to deploy a 462 MWe 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," NuScale ( SMR ) President and CEO John Hopkins said.

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