Norwegian companies Norsk Kjernekraft and Ocean-Power have signed a memorandum of understanding (MOU) to develop concepts using small modular reactors (SMRs) placed on barges. The agreement lays the foundation for a collaboration to investigate, develop and mature solutions that combine nuclear power with flexible maritime platforms. This enables energy production to be placed where it is most needed while providing Norwegian industry with new market opportunities.
This is an important step in the right direction to ensure long-term nuclear power investment in Norway involving the best of Norwegian industry,” said Norsk Kjernekraft CEO Jonny Hesthammer. “With reduced activity in the petroleum sector, we need new industrial adventures, and floating nuclear power could be one of them. Together with Ocean-Power, we want to explore how we can deliver stable, clean energy to industry and society with minimal land use and maximum flexibility.”
Ocean-Power’s concept, according to its website, is to develop 200-250 MWe floating power plants using combined cycle power plants (gas turbines and steam turbines) with carbon capture and storage. The floating plants supply power to nearby platforms for the offshore version and to the grid inshore. In July, Ocean-Power and Danish nuclear technology company Copenhagen Atomics signed a MOU to investigate the potential for producing electricity and heat in Norway using thorium-based molten salt reactors.
Ocean-Power CEO Erling Ronglan said: “We want to mobilise the Nordic supplier industry to build solutions that can become world leaders. Nuclear power on barges provides new opportunities for safe, stable and climate-friendly energy supply for industry, society and maritime operations. This can be an important part of Norway’s contribution to achieving climate goals, while creating value for future generations.”
The companies will initially work together to investigate possible concepts, technology choices and business models. The projects will be built and operated in accordance with Norwegian legislation and regulations, and the ambition is to draw on the broad experience and expertise of Norwegian and Nordic industry.
Norsk Kjernekraft aims to build, own and operate SMR power plants in Norway in collaboration with power-intensive industry. It says it will prepare licence applications in accordance with national regulations and international standards. It will follow the International Atomic Energy Agency’s Milestones approach and focus on what creates value in the early phase. Financing will take place in collaboration with capital-strong industry and solid financial players. The company has entered agreements with several Norwegian municipalities.
