US President Biden confirmed at G7 summit financing of the construction of the first SMR plants in Romania

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The leaders of the G7 states confirmed, in Hiroshima, their commitment to identify new opportunities to expand the Partnership for Infrastructure and Global Investments (PGII), the initiative of the US President, Joe Biden, and the G7, in the field of infrastructure and which provides for the financing of the construction of the first plants with small modular reactors (SMR) in Romania, according to a White House document.

“Building on previous U.S. Government support to develop Romania’s first-of-a-kind SMR plant using U.S. firm NuScale Power technology and Fluor Corporation engineering and construction services, the U.S. EXIM issued a Letter of Interest for potential support for up to $99 million to RoPower Nuclear S.A. for design studies – alongside expressions of interest from public and private partners from Japan, Republic of Korea, and United Arab Emirates – together amounting to up to $275 million in early-stage support. These commitments, along with new pledges by Romania, support procurement of long lead materials, completion of the Front-End Engineering and Design (FEED) analysis, provision of project management experts, and regulatory site activities. In addition, the DFC and the U.S. EXIM also issued letters of interest for potential support of up to $1 billion and $3 billion, respectively, for project deployment. When built, the SMR will pave the way for new innovative energy technologies, accelerate the clean energy transition, create thousands of jobs, and strengthen European energy security while upholding the highest standards for nuclear safety, security, and nonproliferation,” says the White House’s document.

Romanian President Klaus Iohannis welcomed the announcement of the US President, Joe Biden, regarding the project of small modular reactors in Romania.

I welcome the announcement made today by the President of the United States of America, Joe Biden, at the G7 Summit, regarding the support of the United States and Japan, of partners South Korea and the United Arab Emirates of up to 275 million dollars for the project of small modular reactors ( SMR) from Romania, as well as letters of interest from US EXIM and US International Development Finance Corporation for additional support of up to 4 billion dollars for the implementation of the project. These initiatives represent essential support for Romania’s objective to be in the first line of the development of the revolutionary nuclear energy infrastructure. The implementation of the SMR project in partnership with the USA will allow the production of clean energy and increase energy security,” President Iohannis said in a Facebook post on Saturday.

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