nuclear-news

NuScale cancels first planned SMR nuclear project due to lack of interest

The Chemical Engineer, by Adam Duckett, 27 Nov 23

NUSCALE has cancelled the first project for its pioneering small modular nuclear reactor (SMR) technology because too few customers signed up to receive its power amid rising costs.

NuScale is the only company to have received design approval from US regulators for an SMR, a smaller form of reactor that can be fully fabricated in a factory to reduce the costly overruns that occur with larger conventional nuclear plants.

The first plant, known as the Carbon Free Power Project (CFPP), was set for construction at the US Department of Energy’s Idaho National Laboratory. It would have included six reactor modules generating a combined 462 MW of low carbon energy and had planned to begin operations in 2030. However, the company says there has not been enough interest from utilities across western states to continue the project.

The DoE has provided more than US$600m in funding since 2014 for NuScale and others to develop SMR technology. A spokesperson said: “We believe the work accomplished to date on CFPP will be valuable for future nuclear energy projects,” Reuters reports……………………

Critics argue that the technology is unproved, produces radioactive waste, and will be too slow and costly compared to renewable options which are available to deploy now. NuScale announced at the start of the year that the target cost of power from CFPP had climbed 53% since 2021 to US$89/ MWh.

The Institute for Energy Economics and Financial Analysis warned that “no one should fool themselves into believing this will be the last cost increase” given the additional design, licensing and testing needed, on top of inflation. https://www.thechemicalengineer.com/news/nuscale-cancels-first-planned-smr-nuclear-project-due-to-lack-of-interest/

November 28, 2023 - Posted by Christina Macpherson | business and costs, Small Modular Nuclear Reactors