Doosan Enerbility has clinched a major contract to supply reactors, steam generator tubes, and other main components for Nuscale Power’s US$37 billion small modular reactor (SMR) construction project. This significant order is valued at over 2 trillion won, underscoring Doosan’s pivotal role in the expanding SMR market.
Nuclear industry sources reveal that Nuscale Power, the largest SMR designer in the United States, has agreed to supply 24 SMRs to Standard Power, an IT infrastructure company, beginning in 2029. The contract’s total value stands at 50 trillion won.
Doosan Enerbility’s success in securing this large order follows strategic investments totaling US$104 million in 2019 and 2021, aimed at supplying key components to Nuscale Power when it was still a startup. Recognizing the potential growth in the SMR market seven years ago, Doosan established the world’s first dedicated SMR production line and acquired essential technologies. This foresight has now paid off, positioning Doosan as a key player in the SMR sector.
Doosan Enerbility is not alone in capitalizing on SMR opportunities. HD Korea Shipbuilding & Offshore Engineering (KSOE) is developing an offshore floating nuclear power plant incorporating SMRs and has invested US$30 million in TerraPower, a US-based company. Additionally, Hyundai E&C and Samsung C&T have partnered with SMR developers to secure construction rights, while Korea Hydro & Nuclear Power (KHNP) aims to develop a Korean-type SMR by the end of 2030.
The rising global demand for electric power has fueled a boom in SMR development. The U.S. Department of Energy has allocated US$11.2 billion in new funding for SMR projects this year. Meanwhile, China completed the world’s first commercial SMR, “Linglong One,” on April 22, which has entered the test operation phase. According to British market research firm IDTechEx, the SMR market is projected to grow rapidly, reaching US$72.4 billion by 2033 and US$295 billion (about 401 trillion won) by 2043.
Doosan Enerbility’s contract with Nuscale Power signifies a major step forward in the global SMR industry, reinforcing the company’s leadership in nuclear technology and its strategic vision for future energy solutions.
