Samsung C&T to participate in SMR project in Romania

South Korea's Samsung C&T Corp. is working with NuScale Power, a leading American nuclear power company, to promote the construction of a small module reactor (SMR) in Romania.

Samsung C&T's construction division on Wednesday said it concluded the day before a memorandum of understanding with Nuclearelectrica S.A., E-Infra Group and Nova Power & Gas of Romania and NuScale and Fluor of the US to jointly promote the construction of a 462-megawatt SMR in the Eastern European nation.

Romania is seeking to replace a thermal power plant in the village of Doisesti with an SMR based on NuScale technology, with commercial operations set for launch in 2029.

Under the agreement, the six companies will cooperate during the project's entire process from SMR planning in Romania to licensing, design, engineering, procurement and construction (EPC), and financing. Samsung C&T will secure SMR-related capacity such as in EPC implementation starting with participation in basic design.

The parties will also cooperate in expanding SMR operations in Europe based on NuScale technology centered on Romania.

As the only company to receive SMR design certification from the US Nuclear Regulatory Commission, NuScale is building such a reactor in Idaho set for completion by 2029.

Samsung C&T invested $70 million in NuScale to get a preemptive start on the next-generation SMR market and secure a leading position. Based on this, the South Korean company is conducting comprehensive cooperation with its American partner to expand the latter's SMR business abroad such as in Eastern Europe and Asia.

"The Romanian SMR project is a crucial initial milestone for achieving the goal of carbon neutrality by 2050 and energy transformation in Europe," Samsung C&T President and Co-CEO Oh Se-chul said. "Through participation in this project, we prepared a bridgehead for expansion on the global SMR market."

Write to Jin-Woo Park at jwp@hankyung.com