Business news from Ukraine

Business news from Ukraine

“Energoatom” and American Holtec plan to establish joint venture

21 December , 2023  

NNEGC Energoatom and Holtec International plan to establish a joint venture to organize a production complex and a technology center in Ukraine to localize equipment for small modular reactors (SMR) of the American company.

According to NNEGC’s post on Telegram, the facility will house an engineering and design center, storage facilities for materials and component production, as well as training facilities, including an SMR simulator.

The production is expected to create thousands of jobs for qualified Ukrainian personnel.

“The introduction of advanced technologies and the construction of modern Holtec production facilities in Ukraine will be of great importance for the post-war economic recovery of our country. Cooperation with Holtec gives Ukraine the opportunity to become a leader in the global nuclear energy sector,” Energoatom President Petro Kotin was quoted as saying in the statement.

“We believe that Ukraine has demonstrated its ability to build and commission a powerful nuclear facility, despite the continuous barrage of Russian missiles. Therefore, Ukraine’s recovery can begin without waiting for the end of hostilities,” said Holtec President and CEO Dr. Chris Singh.

As reported, in November 2022, Ukraine and the United States announced a project to build an SMR in Ukraine. In addition to generating electricity using SMR and advanced electrolysis technologies, the country also plans to produce pure hydrogen and ammonia.

In April 2023, Energoatom and Holtec signed a cooperation agreement on SMR deployment, which envisages the construction of up to 20 SMR-160 light water reactors, with the implementation of the first pilot project and reaching the minimum regulated reactor power and grid connection by March 2029.

Holtec also announced plans to organize facilities in Ukraine to train personnel, transfer the necessary technologies, manufacture and maintain SMR equipment. “Ukrenergo has already recommended 16 TPP sites where they could be located.

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