US President Biden announces USD 275 mln financing for SMR project in Romania
US President Joe Biden announced on May 20, on the sidelines of the Hiroshima summit, financial support for the development of the small modular reactor (SMR), worth USD 275 mln, from the US, Japan, South Korea and the United Arab Emirates, Profit.ro reported.
In November 2021, NuScale announced its intent to build with the Romanian nuclear group Nuclearelectrica (BVB: SNN) its first reactors in Romania by 2028.
These commitments, together with the new commitments from Romania, support the acquisition of materials with long manufacturing time, the completion of the engineering analysis and front-end design (FEED), the provision of experts in project management and the regulatory activities of the plant.
In addition to the USD 275 mln firm financing, the US International Development Finance Corporation (DFC) and the US Export-Import Bank (EXIM) issued letters of interest indicating potential funding worth USD 1 bln and USD 3 bln, respectively.
(Photo source: Nuclearelectrica.ro)