GS, Doosan, Samsung to develop SMR with US NuScale Power

기사입력 : 2022-04-27 09:42

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GS, Doosan, Samsung and NuScale Power signed a MOU. Photo=GS Group
GS, Doosan, Samsung and NuScale Power signed a MOU. Photo=GS Group
GS Energy, Doosan Enerbility, and Samsung C&T [028260] has partnered with the U.S. nuclear power reactor manufacture NuScale Power to develop small module reactors (SMRs).

The three companies and NuScale Power signed a MOU deal at the headquarters of GS Energy in Gangnam, Seoul, on the 26th to construct and operate of SMRs in Korea.

At the signing ceremony, GS Energy President Huh Yong-su, Doosan Enerbility Vice President Na Ki-yong, Samsung C&T Vice President Lee Byung-soo, and NewScale Power President John Hopkins attended.

Through the MOU, the companies plans to lead the rapidly growing global nuclear power plant market by adding GS Energy’s operation capability, Doosan Enerbility’s nuclear plant equipment, and Samsung C&T’s construction experience to NuScale Power’s SMR technology.

In addition, as Korean companies will carry out all processes of the project, the three companies expect the deal will also contribute to recovering the domestic nuclear power ecosystem and boosting Korea’s economic growth.

The SMR is a small nuclear reactor with a capacity up to 300MW that integrated large-sized equipment such as nuclear reactor and steam generator into a single module.

The SMR is called next-generation nuclear reactor with improved safety and economic efficiency and lower carbon emissions compared to the traditional large nuclear plants.

According to the U.K. Nuclear Institute, the global SMR market is expected to grow by 150 trillion won a year by 2035.

NuScale Power’s SMR has obtained a design certification from the U.S. Nuclear Regulatory Commission (NRC) in 2020 for the first time in the world. The NuScale SMR power plant is scheduled to be constructed and operated in 2029.

By Global Economic Reporter Myeong-seok Chae ; Translate by Gounee Yang