U.S. President Donald Trump has accelerated the development of small modular reactors (SMRs) as a new opportunity for the nuclear industry by easing various regulations aimed at revitalizing it. As the commercialization of SMRs in the U.S. shows positive signs, domestic companies related to SMRs, such as Doosan Enerbility and Samsung C&T, are expected to benefit.
On the 30th, the U.S. Nuclear Regulatory Commission (NRC) announced that the 77-megawatt (MW) reactor designed by NuScale Power has received standard design certification. It has been recognized as 'technically safe' if built according to the design plan, which is different from a construction permit. The NRC is the key agency managing all nuclear activities in the U.S., including regulation of nuclear power plants, management of radioactive waste, and review of reactor technology.
With this standard design certification, NuScale Power has become the fastest developing company among SMR corporations worldwide. TerraPower, founded by Microsoft co-founder Bill Gates, is also accelerating its sodium SMR development. NuScale Power stated on its website that it received approval from the NRC faster than expected.
The Trump administration, which advocates for the rebuilding of the nuclear industry, has set a goal to quadruple nuclear power capacity by 2050. On the 24th, President Trump signed four executive orders aimed at accelerating the construction of nuclear power plants and overhauling the regulatory system. Specifically, it includes plans to shorten new reactor permit decisions to within 18 months and to create new experimental reactors.
NuScale Power aims to operate several units of the 77 MW SMR within a decade. Domestic corporations are also looking forward to collaborating with NuScale Power. Doosan Enerbility, which made an equity investment in the early stages, expects to supply major equipment for the SMRs. The model that received the standard design certification also includes reactor pressure vessels and steam generators made by Doosan Enerbility.
Samsung C&T and GS Energy also hold equity in NuScale Power. Samsung C&T believes it will be able to secure contracts in the engineering, procurement, and construction (EPC) sector for future SMR construction. GS Energy will collaborate as a strategic partner for the dissemination of SMR technology.
The advantage of SMRs is that they allow for relatively simple assembly by bringing factory-produced components to the site. They have shorter construction periods and are relatively cheaper compared to large reactors. They do not require large-scale reactor sites and can increase the number of units to match power demand.
Conversely, there are claims that the unit cost of power generation is higher compared to large nuclear power plants because it is still in the early development stages. The safety of the new technology has not been verified, and considerable time is required for regulatory approvals. The issue of radioactive waste is also cited as a problem that is fundamentally difficult to solve.