Russian insurance company Sogaz announced on 10 February that it had insured nuclear utility Rosenergoatom’s floating NPP (FNPP) Akademik Lomonosov for RUB21.7bn ($380m) to cover  "death, loss and damage to the hull, machinery, tools, equipment of the ship". 

The insurance cover will be valid until the end of November 2017, and reinsurance protection is provided by leading Russian and international reinsurance companies. However, this does not cover the cost of building coastal infrastructure at the Chukutka port of Pevek, which is expected to cost RUB7bn, making the total cost of the project the state RUB28.7bn.

The vessel is currently undergoing final mooring tests at Baltisky Shipyard in St Petersburg before being towed to Pevek where it will provide power and heat for the region, replacing the Bilibino NPP which is to be decommissioned in 2019-2021. The FNPP is equipped with two KLT-40S pressurised water reactors, similar to those used to power icebreakers. It will provide up to 60MWe of electricity and up to 50 Gcal /hour of thermal energy for heating.