NuScale Power receives order to prepare a Combined License Application and manage and de-risk NuScale’s small modular reactor as part of the Carbon Free Power Project

PORTLAND, Ore.--(BUSINESS WIRE)-- NuScale Power today announced together with Utah Associated Municipal Power Systems (UAMPS) that it has executed agreements to facilitate the development of the Carbon Free Power Project (CFPP), which will deploy NuScale Power Modules™ at the Idaho National Laboratory (INL) and create cleaner, safer and cost-effective carbon-free power for UAMPS member utilities. Pursuant to the initial orders from UAMPS, Fluor Corporation and NuScale (as a subcontractor to Fluor) are to develop higher maturity cost estimates and initial project planning work for the licensing, manufacturing and construction of the CFPP.

“The orders between NuScale and UAMPS mark the next major step in moving forward with the commercialization of NuScale’s groundbreaking small modular reactor (SMR) technology,” said John Hopkins, NuScale Chairman and Chief Executive Officer. “This is the first step in a prudent deployment plan that could result in the order of NuScale Power Modules in 2022. We are appreciative of UAMPS’ strong partnership and collaboration as we forge a new energy frontier together.”

The orders are the result of recently signed agreements to manage and de-risk the development of the Carbon Free Power Project. These include the Development Cost Reimbursement Agreement (DCRA) between UAMPS and NuScale, and the $1.355 billion multi-year Financial Assistance Award from the U.S. Department of Energy to CFPP LLC, a wholly-owned subsidiary of UAMPS established to develop, own and operate the CFPP.

In addition, UAMPS and Fluor Corporation have signed a cost-reimbursable development agreement to provide estimating, development, design and engineering services to develop the site-specific cost estimates for deployment of the NuScale technology at the INL site. Concurrently, UAMPS will continue to evaluate the size of the NuScale power plant as Fluor refines the engineering of alternatives to ensure that the plant is the best overall cost of energy and size to meet the CFPP participants’ subscription needs.

“The orders executed today allow for important progress in the development of the Carbon Free Power Project, and we are excited to take this next step alongside our partners NuScale Power and Fluor Corporation” said Doug Hunter, UAMPS’ Chief Executive Officer and General Manager. “We are confident that NuScale’s small modular reactor will deliver affordable, stable, carbon-free energy to participating members, complementing and enabling large amounts of renewable energy in the region.”

NuScale’s SMR became the first and only design to ever receive approval from the NRC in August 2020. NuScale and UAMPS expect that the initial orders will address the final step in the regulatory process to proceed with plans to build a NuScale Power Plant as they plan for and develop the Combined License Application (COLA) for the CFPP. The UAMPS COLA is expected to be submitted to the Nuclear Regulatory Commission (NRC) by the second quarter of 2023. NRC review of the COLA is expected to be completed by the second half of 2025, with nuclear construction of the project beginning shortly thereafter.

About NuScale Power

NuScale Power has developed a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, and other process heat applications. This groundbreaking small modular reactor (SMR) design features a fully factory-fabricated NuScale Power Module™ capable of generating 77 MW of electricity using a safer, smaller, and scalable version of pressurized water reactor technology. NuScale's scalable design—power plants that can house up to four, six, or 12 individual power modules—offers the benefits of carbon-free energy and reduces the financial commitments associated with gigawatt-sized nuclear facilities. The majority investor in NuScale is Fluor Corporation, a global engineering, procurement, and construction company with a 60-year history in commercial nuclear power.

NuScale is headquartered in Portland, OR and has offices in Corvallis, OR; Rockville, MD; Charlotte, NC; Richland, WA; and London, UK.

About UAMPS

Utah Associated Municipal Power Systems (“UAMPS”) is an energy services interlocal of the State of Utah that provides power pooling, scheduling, resource management and other electric services to its members, consisting of 48 member utilities located in the states of Utah, Idaho, California, Nevada, Wyoming and New Mexico.