Tuesday, July 23, 2024
HomeNuclearKorean private equity fund invests 75 million euros in Doicesti SMR plant

Korean private equity fund invests 75 million euros in Doicesti SMR plant

DS Private Equity (DSPE) signed a “term sheet agreement” with Romanian energy companies Nuclearelectrica and Nova Power & Gas to invest 75 million euros in the Front End Engineering and Design (FEED) 2 study for the development of the Doicești (south Romania) small modular reactor (SMR) plant (5 July).

Nuclearelectrica and Nova Power & Gas are joint owners of RoPower, a project company responsible for developing the Doicesti SMR plant.

The agreement with DSPE, which is based in Seoul (South Korea), comes as part of the multinational public-private partners’ commitment made earlier this year from the United States, Japan, South Korea and the United Arab Emirates to provide up to 255 million euros for the Romanian SMR project.

DSPE is pleased to be partnering with Nuclearelectrica and Nova Power & Gas to usher in a new chapter in nuclear energy. As we approach the crossroads of climate change and energy security, RoPower’s SMR Project in Doicesti shall set the standard in how international companies and governments can work together to implement a shared strategy and global vision. While advancing our mission to promote carbon-free power, we look forward to helping RoPower bring a new industry with new jobs to Romania,” said Soo Hyon Lim, Chief Executive Officer of DSPE.

DSPE’s funding of Phase 2 of the SMR project’s FEED study will cover detailed site characterisation, initiation of activities to obtain authorisations, licensing and regulation, creation of a precise project schedule, budget planning for project execution, and preparation for the purchase of long lead materials.

Romania is the first country in Europe and the second after the United States to take the first steps toward the implementation of the NuScale VOYGR power plant with 6 modules and an installed capacity of 462 megawatts electric (MWe) this decade.

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