ROSATOM to establish JV for construction of energy fleet based on nuclear floating power units for overseas markets
On June 15, 2023, within the scope of the St. Petersburg International Economic Forum, an agreement was signed between ROSATOM and TSS Group on the basic conditions for developing an energy fleet based on floating power units (FPU) with RITM-200M reactors for overseas markets, Rosatom says in its press release. TSS Group is Russia's largest developer and manufacturer of integrated well completion solutions, as well as energy supply solutions to the oil and gas sector with an actively implemented development strategy in the Middle East.
The parties have committed to establish a joint venture on a parity basis, which will ensure the start of construction of a series of FPUs with capacity of not less than 100 MW and designated service life of up to 60 years for overseas markets with subsequent sale of electricity from the floating power units in the countries of presence. The agreement signed is a framework agreement. Legally and financially binding documents are expected to be signed later on. The partners consider the countries of Middle East, Southeast Asia, and Africa as target markets. The energy fleet commissioning is anticipated in the period from 2029 to 2036.
Floating power unit is a new effective solution to the challenges of energy supply to remote areas, large investment mining projects and energy-consuming industrial facilities. Currently, Rosatom is implementing the first "serial" project for the ecological energy supply to a large industrial cluster, i.e. construction of four floating power units for the Baimskaya ore zone is underway.
