US-based NuScale Power and South Korea’s Doosan Heavy Industries and Construction Co (DHIC) on 29 April signed a memorandum of understanding for strategic cooperation to support deployment of the NuScale Power Module worldwide.
The relationship includes DHIC, a member of the Doosan Group, and potential Korean financial investors, which, subject to final due diligence, plan to make a cash equity investment in NuScale. DHIC would bring its expertise in nuclear pressure vessel manufacturing, and will join the larger US-led manufacturing team to build the NuScale small modular reactor (SMR).
NuScale is the only SMR undergoing design certification review by the US Nuclear Regulatory Commission, which is due to complete its review of NuScale’s design in September 2020.
Under the terms of the MOU, DHIC is expected to build a portion of the most critical and complex sub-assemblies for the plant under development for Utah Associated Municipal Power Systems, which is expected to begin operation in 2026.
John Hopkins, NuScale Power Chairman and CEO said: “Through this relationship, we are not only broadening our supply chain base, but DHIC’s potential investment will also be an endorsement of NuScale’s strong position as a global SMR leader and our capability to deliver NuScale plants worldwide."
The companies aim to close the strategic supplier agreement in July 2019, subject to a satisfactory due diligence, negotiation of a definitive agreement and regulatory approvals
NuScale’s SMR features a fully factory-fabricated 60MWe pressurised water reactor. A power plant would house up to 12 modules and is expected to reduce the costs associated with other gigawatt-sized nuclear facilities. The majority investor in NuScale is Fluor Corporation.
DHIC has an integrated manufacturing facility in Changwon, Korea which is capable of raw material production to final assembly of nuclear components. The company has supplied 32 reactor vessels and 114 steam generators to nuclear plants in Korea, the USA, China and UAE. Doosan Heavy was chosen after an 18-month request for proposals for global manufacturing, outperforming competitors “by far,” said Hopkins.
Photo: NuScale Power and Doosan signed a memorandum of understanding in April (Credit: NuScale Power)