The U.S., Japan, South Korea and the United Arab Emirates are investing up to $275 million in the development of a small modular nuclear reactor in Romania.
Based on NuScale Power‘s technology, the SMR project will replace a former coal plant in the town of Doicesti with clean nuclear energy, the State Department said Saturday.
The project builds on an ongoing deployment of the NuScale SMR technology at the Carbon Free Power Project in Idaho, which is expected to conclude in 2029.
The public-private support for the Romania SMR project includes a letter of interest from the U.S Export-Import Bank’s Engineering Multiplier Program for up to $99 million.
EXIM and U.S. International Development Finance Corporation also issued letters of interest for up to $3 billion and $1 billion, respectively, in support of project deployment.
The investment is part of the Partnership for Global Infrastructure and Investment, which aims to mobilize $600 billion in public and private resources by 2027.
