Romanian NuScale SMR construction plan secures $275 million in support

At the G7 leaders’ summit, the United States and “multinational public-private partners” from Japan, South Korea and the United Arab Emirates announced up to $275 million (approx. CZK 6.06 billion) in financial support to accelerate construction of NuScale Power Corporation’s VOYGR small modular reactor (SMR) in Romania. The summit was held in Hiroshima, Japan.

The announced funding includes a commitment by the US Export-Import Bank (EXIM) to invest up to $99 million in the project through its EXIM Engineering Multiplier program.

The funding will support the procurement of long-lead-time materials and engineering and design work in the project’s second phase, as well as project management expertise, site surveys, regulatory analyses, development of a schedule and a budget estimate for implementing the project at the specific site.

EXIM and the US International Development Finance Corporation also announced a joint commitment to provide potential financial support of up to $3 billion and $1 billion, respectively, for project implementation. The announcement was part of the G7 leaders’ plan to raise $600 billion for infrastructure investment under the Partnership for Global Infrastructure and Investment.