Countries aim to foster fleet deployment models that de-risk project development
The foreign ministers of the US, Japan and South Korea signed an agreement to cooperate on the deployment of small modular reactors (SMRs) in third countries on the sidelines of the Nato summit in Turkey, the US state department said on 8 July.
US secretary of state Marco Rubio, Japanese foreign minister Toshimitsu Motegi and South Korea’s foreign minister Cho Hyun agreed the allies will work together to provide competitive options on meeting energy demands in the Asia-Pacific region and beyond, a statement said.
The US state department said the agreement aims to foster fleet deployment models that de-risk project development, achieve economies of scale, catalyse private investment, streamline licensing processes, and optimize supply chains.
“A coordinated trilateral approach positions American, Japanese, and Korean firms to provide partners in the region with more competitive alternatives to meet their growing energy demands and to uphold the highest standards of nuclear safety, security, and non-proliferation as new reactor technology increasingly comes online,” it said.
In support of the initiative, the US is committing over $10m (€8.7m) in new funding for the department of state’s Foundational Infrastructure for Responsible Use of Small Modular Reactor Technology (First) Program to provide technical support to countries in Asia-Pacific region for the deployment of nuclear energy. Funds will advance SMR project development activities and establish an SMR regional training hub for workforce development.
The US also announced an industry initiative agreed upon among GE Vernova, Hitachi, Samsung C&T, and SGE to advance deployment of GE Vernova Hitachi Nuclear Energy’s BWRX-300 SMR across Europe.
