This implies that the project as it was planned can not continue; the company said that it will reassess the SMR technologies and decide accordingly.
It concluded that there currently exist premises for the initiation of steps to update the SMR Implementation Strategy in Romania, “for which we continue to appreciate the openness of the American partners."
The revised strategy will consider, among other things, an assessment of the most advanced US-origin SMR technologies, a process for matching technologies to the characteristics of the Doicești site, and the potential development of other types of electricity generation capacity.
The reassessment does not mean that the current scenario, based on NuScale technology, has been ruled out. Instead, SNN intends to benchmark multiple technologies and scenarios against recent technological developments and their maturity, seeking the most advantageous solution for Romania and to protect the interests of the Romanian state if no positive outcome is reached through the current process.
Once the reassessment is complete, an updated strategy will be submitted to SNN’s competent corporate bodies for approval. The process will be conducted in accordance with the intergovernmental agreement (IGA) between Romania and the US, ratified under Law No. 200/2021, and the institutional cooperation established under that agreement.
“In parallel, SNN's executive management will conduct an analysis to identify the factors that led to the current situation, respectively the measures necessary to reduce/eliminate, as much as possible, the risks and reduce the financial impact generated on SNN by this Project", SNN also indicated.
The three main conditions that remain unfulfilled
SNN identified three conditions in the agreement that it considers unmet.
A framework agreement between SNN and NuScale. The two parties have not agreed on a final form of the agreement. SNN attributes the delays to NuScale, saying the US company “successively, gradually gave up on the binding elements of what was previously expected to be assumed”. NuScale instead proposed granting SNN a subscription right for its shares at a predetermined price. SNN considers this insufficient in the form proposed.
A binding commitment to purchase the SMR modules. The FID envisaged two options: purchasing a single module initially and deciding on the remaining five later, or committing to all six modules while requiring NuScale to reimburse the cost of five if the first module failed to meet performance requirements. According to SNN, NuScale refused to sign a binding agreement covering either option.
The natural-gas issue at the site. The third condition concerns natural gas emerging from an old well at the SMR site. SNN says the lack of institutional support affected RoPower Nuclear’s (RPN) ability to meet this condition. An independent study is expected to deliver preliminary results in March 2027 and a final version in October 2027. Responsibility for the steps required to resolve this issue lies mainly with the Romanian side.