Insurance for Russia’s floating NPP

12 April 2016

Russian nuclear utility Rosenergoatom has called for bids to insure shipbuilding risks which arise in construction completion of the pilot floating small power co-generation plant (FNPP) Akademik Lomonosov. The initial (maximum) price of the policy is RUB109m ($1.6m), according to the procurement website of state nuclear corporation Rosatom. The policy is due to October 31, 2016.
Under its terms, the hull, engines, mechanisms and equipment of the FNPP are insured against loss, total loss and damage at RUB15.5bn for the period of shipbuilding until the point of time when nuclear fuel is loaded. The FNPP is being built at the Baltijskiy Zavod. The ship's release to the customer, Rosenergoatom, is planned for September 2016 and commissioning in Pevek, Chukotka, is expected in 2019.

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