NuScale Power announced that it has signed a memorandum of understanding (MOU) with Fermi Energia, an Estonian energy company that is looking to adopt clean energy power sources to meet the country’s ambitious climate goals. Under the agreement, Fermi Energia will evaluate NuScale’s groundbreaking small modular reactor (SMR) design for deployment in Estonia.
In July 2019, Fermi Energia announced it would conduct a feasibility study on the deployment of SMRs in Estonia. NuScale’s design was one of the technologies chosen to be studied due to its near-term deployable timeline, strong safety case, and cost-competitiveness. Under this new MOU, NuScale will support Fermi Energia as it conducts further analysis and considers deploying a NuScale VOYGR™ SMR power plant in country to meet clean, baseload energy needs by 2031.
“Considering the geopolitics of today, this agreement builds upon the existing momentum and strong interest from the international community who are looking to NuScale’s SMR technology as the premier, flexible, and cost-competitive climate solution,” said John Hopkins, NuScale Power President and Chief Executive Officer. “NuScale looks forward to working with Fermi Energia as they evaluate how our SMRs can become a key component of Estonia’s energy future.”
“The great advantage of the new generation of small modular reactors is clearly manifested in the case of Estonia. They fit better into the electricity grid, are more flexible and economical to operate, and meet stricter safety requirements than the existing nuclear plants,” said Kalev Kallemets, Fermi Energia CEO and co-founder. “Before choosing the most suitable technology for Estonia, we will conduct a comprehensive analysis and evaluate which of the small reactors that will become market-ready in the near future best meets Estonia’s needs to produce CO2-free energy year-round, in any weather, at an affordable price.”
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Estonia has committed to stop using oil shale, currently its largest source of energy, in its power plants by 2030. To replace this greenhouse gas intensive power source, Fermi Energia has advocated to utilize SMR technology to secure the country’s energy independence. By 2031, Fermi Energia envisions clean, safe, affordable, and carbon-free electricity courtesy of the next generation of nuclear energy. In a nation like Estonia, NuScale’s small, scalable design is well suited to meet the baseload energy demand and can significantly contribute to meeting climate goals