NuScale, whose small modular nuclear reactor (SMR) has been approved in the United States, has announced the suspension of the Carbon Free Power Project (CFPP). This is stated in a post on its website.
The project involved the construction of a power plant for Utah Associated Municipal Power Systems (UAMPS). The plant was to be equipped with six 77-megawatt NuScale modular reactors to generate 462 megawatts of carbon-free electricity. The first small modular reactor was supposed to start operating in 2029. The parties decided to stop the project jointly.
"NuScale will continue with our other domestic and international customers to bring our American SMR technology to market and grow the U.S. nuclear manufacturing base, creating jobs across the U.S. We thank UAMPS for the collaboration that has enabled this advancement," said NuScale President and CEO John Hopkins.
According to Bloomberg, the project was halted due to a significant increase in costs. Now NuScale has to pay UAMPS a $49.8 million termination fee.
Earlier it was reported that the U.S. Nuclear Regulatory Commission approved the design of the first small modular nuclear reactor for use in the United States. This was called the beginning of a new era in nuclear power.
Traditional nuclear reactors are an incredible source of clean energy, but they are also expensive and take years to build. Small modular reactors, on the other hand, can be built faster, cheaper and take up much less space. And although they produce less energy, they can be quickly manufactured in a factory to order.