Equity Investment in NuScale Power Completed
Doosan Heavy Industries & Construction announced on Dec. 22 that it has completed its equity investment in NuScale Power, a U.S. nuclear power plant company. The equity investment has paved the way for Doosan Heavy Industries & Construction to enter the small module nuclear power plant business.
Doosan Heavy Industries & Construction participated in three rounds of equity investment in NuScale Power from July to December this year jointly with Korean investment firms including IBK Investment & Securities. The total investment was around US$44 million.
On Dec. 22, the company signed a stock acquisition deal with NuScale Power and a business cooperation contract for the supply of reactor modules and other equipment.
NuScale Power will supply a small module reactor for the first small nuclear power plant project in Idaho, the United States. The power plant is slated to go into commercial operation in 2026. Doosan Heavy Industries & Construction will supply some of the reactor modules and other equipment for the project.
“The successful completion of the equity investment and a smooth design certification process has brightened the future of the small module nuclear power plant business,” said Na Ki-yong, head of Nuclear BG of Doosan Heavy Industries & Construction. “We look forward to entering the nuclear power generation markets of the United States, Canada and the United Kingdom through this partnership.”
Doosan Heavy Industries & Construction expects to supply equipment worth at least US$1.3 billion with the cooperation in small nuclear power modules.