Fluor Awarded Contract for Next Phase of Engineering and Design for Small Modular Reactor Power Plant in Romania
Fluor (NYSE: FLR) has secured a contract with RoPower Nuclear for Phase 2 front-end engineering and design (FEED) work at a small modular reactor (SMR) facility in Doicesti, Romania. The project will utilize NuScale Power's SMR technology to generate carbon-free power, marking a significant milestone in Romania's clean energy initiatives. The contract signing ceremony was attended by high-level officials from Romania and the U.S., emphasizing bilateral cooperation.
Fluor's Phase 2 FEED work will customize a six-reactor SMR power plant capable of producing up to 462 megawatts, adhering to European codes and standards. This facility will be the first of its kind in Europe, showcasing Fluor's expertise in next-generation nuclear power deployment.
Fluor (NYSE: FLR) ha ottenuto un contratto con RoPower Nuclear per i lavori di ingegneria e design di front-end (FEED) della Fase 2 in una struttura di reattori modulari piccoli (SMR) a Doicesti, Romania. Il progetto utilizzerà la tecnologia SMR di NuScale Power per generare energia senza carbonio, segnando un traguardo significativo nelle iniziative di energia pulita della Romania. La cerimonia di firma del contratto è stata presenziata da alti funzionari della Romania e degli Stati Uniti, sottolineando la cooperazione bilaterale.
I lavori FEED della Fase 2 di Fluor personalizzeranno una centrale elettrica SMR a sei reattori in grado di produrre fino a 462 megawatt, conformandosi ai codici e agli standard europei. Questa struttura sarà la prima del suo genere in Europa, dimostrando l'expertise di Fluor nel dispiegamento della nuova generazione di energia nucleare.
Fluor (NYSE: FLR) ha asegurado un contrato con RoPower Nuclear para los trabajos de ingeniería y diseño de front-end (FEED) de la Fase 2 en una instalación de reactores modulares pequeños (SMR) en Doicesti, Rumanía. El proyecto utilizará la tecnología SMR de NuScale Power para generar energía libre de carbono, marcando un hito significativo en las iniciativas de energía limpia de Rumanía. A la ceremonia de firma del contrato asistieron altos funcionarios de Rumanía y EE. UU., enfatizando la cooperación bilateral.
El trabajo FEED de la Fase 2 de Fluor personalizará una planta de energía SMR de seis reactores capaz de producir hasta 462 megavatios, cumpliendo con los códigos y estándares europeos. Esta instalación será la primera de su tipo en Europa, mostrando la experiencia de Fluor en el despliegue de la energía nuclear de próxima generación.
플루어(뉴욕증권거래소: FLR)는 루마니아 도이체스티에 있는 소형 모듈 원자로(SMR) 시설의 2단계 전단계 엔지니어링 및 설계(FEED) 작업을 위해 로파워 핵과 계약을 체결했습니다. 이 프로젝트는 탄소 없는 전력을 생성하기 위해 누스케일 파워의 SMR 기술을 활용할 예정이며, 루마니아의 청정 에너지 이니셔티브에서 중요한 이정표가 될 것입니다. 계약 서명식에는 루마니아와 미국의 고위 관계자들이 참석하여 양국 간의 협력을 강조했습니다.
플루어의 2단계 FEED 작업은 유럽의 규정 및 기준을 준수하여 최대 462메가와트를 생산할 수 있는 6개의 원자로 SMR 발전소를 맞춤화할 것입니다. 이 시설은 유럽 최초의 SMR 시설이 될 것이며, 차세대 원자력 발전 분야에서 플루어의 전문성을 보여줄 것입니다.
Fluor (NYSE: FLR) a obtenu un contrat avec RoPower Nuclear pour des travaux d'ingénierie et de conception de première phase (FEED) pour une installation de réacteurs modulaires petits (SMR) à Doicesti, en Roumanie. Le projet utilisera la technologie SMR de NuScale Power pour produire de l'énergie sans carbone, marquant une étape importante dans les initiatives d'énergie propre en Roumanie. La cérémonie de signature du contrat a vu la présence de hauts fonctionnaires de Roumanie et des États-Unis, soulignant la coopération bilatérale.
Les travaux FEED de la phase 2 de Fluor personnaliseront une centrale électrique SMR à six réacteurs capable de produire jusqu'à 462 mégawatts, conformément aux codes et normes européens. Cette installation sera la première de son genre en Europe, illustrant l'expertise de Fluor dans le déploiement de l'énergie nucléaire de nouvelle génération.
Fluor (NYSE: FLR) hat einen Vertrag mit RoPower Nuclear für die Phase 2 der grundlegenden Engineering- und Entwurfsarbeiten (FEED) in einer kleinen modularen Reaktoranlage (SMR) in Doicesti, Rumänien, gesichert. Das Projekt wird die SMR-Technologie von NuScale Power nutzen, um kohlenstofffreie Energie zu erzeugen und ein bedeutendes Meilenstein in Rumäniens Initiativen für saubere Energie darzustellen. An der Vertragsunterzeichnungszeremonie nahmen hochrangige Offizielle aus Rumänien und den USA teil, was die bilaterale Zusammenarbeit unterstreicht.
Fluors Phase-2-FEED-Arbeiten werden ein Sechs-reaktor-SMR-Kraftwerk anpassen, das bis zu 462 Megawatt produzieren kann und dabei europäischen Vorschriften und Standards folgt. Diese Anlage wird die erste ihrer Art in Europa sein und den Sachverstand von Fluor im Bereich der Bereitstellung von Kernenergie der nächsten Generation demonstrieren.
- Secured contract for Phase 2 FEED work on SMR facility in Romania
- Project utilizes NuScale Power's SMR technology, in which Fluor is a majority investor
- Potential to generate up to 462 megawatts of carbon-free power
- Strong governmental support from both Romania and the U.S.
- Positions Fluor as a leader in next-generation nuclear power deployment in Europe
- None.
Insights
Fluor's contract for Phase 2 FEED work on Romania's SMR facility marks a significant step in Europe's nuclear energy landscape. This project, utilizing NuScale's SMR technology, could be a game-changer for several reasons:
- It's poised to be Europe's first SMR facility, potentially setting a precedent for future deployments across the continent.
- The 462 MW capacity demonstrates the scalability of SMR technology, addressing concerns about nuclear power's flexibility.
- The project aligns with growing interest in nuclear as a carbon-free baseload power source, important for energy security and climate goals.
However, investors should note some key considerations:
- Regulatory hurdles may arise as this is a first-of-its-kind project in Europe.
- The timeline for completion and eventual revenue generation remains uncertain.
- Public perception of nuclear power in Europe could impact the project's progress.
Overall, while this contract solidifies Fluor's position in the emerging SMR market, the long-term impact on the company's financials will depend on successful execution and potential follow-on projects.
From a financial perspective, this contract award for Fluor (NYSE: FLR) presents both opportunities and challenges:
- Positive: The contract will be recognized as a new award in Q3 2024, potentially boosting Fluor's backlog and providing revenue visibility.
- Cautionary: The exact contract value isn't disclosed, making it difficult to quantify the immediate financial impact.
- Strategic: As a majority investor in NuScale, Fluor stands to benefit from both engineering services and potential technology licensing revenues.
Investors should consider:
- Fluor's
$15.5 billion revenue in 2023 provides context for evaluating this contract's significance. - The company's Fortune 500 ranking (265) indicates its strong market position, which could be further enhanced by this high-profile project.
- Long-term potential: If successful, this project could position Fluor as a leader in the growing SMR market, potentially leading to similar contracts globally.
While the immediate financial impact may be , the strategic value and potential for future growth in the SMR sector make this a noteworthy development for Fluor's long-term prospects.
The SMR project in Romania carries significant geopolitical implications:
- Energy Security: It represents a step towards reducing Europe's dependence on Russian energy, a critical concern since the Ukraine conflict.
- US-EU Cooperation: The presence of high-level officials from both countries underscores the strategic importance of this project in transatlantic energy relations.
- Technology Leadership: By deploying US-developed NuScale technology, this project reinforces America's role in shaping global nuclear energy trends.
Key considerations for stakeholders:
- Regulatory Alignment: The project's success could pave the way for harmonizing nuclear regulations between the US and EU.
- Market Competition: This move may prompt responses from other nuclear technology providers, particularly from Russia and China.
- Regional Influence: A successful deployment could enhance Romania's standing in EU energy policy discussions.
For Fluor and its investors, the geopolitical dimension adds a layer of complexity but also potential upside. The strong governmental backing reduces certain political risks while potentially opening doors for future projects in the region. However, it also means the project will likely face intense scrutiny, requiring flawless execution to maintain political support.
Standing (left to right): Teofil Muresan, President & CEO of E-Infra; Cosmin Ghita, CEO of SNN; Sebastian Burduja, Romanian Minister of Energy; Alexandru-Mihai Ghigiu, Head of the Chancellery of the Prime Minister of
The project will utilize NuScale Power’s SMR technology to generate carbon-free power, marking a significant milestone in Romania’s advancement of clean energy initiatives.
A contract signing ceremony took place during the Partnership for Transatlantic Energy and Climate Cooperation summit in
“We are pleased to continue our role in supporting this important project to deploy the next generation of nuclear power to produce clean and reliable baseload electricity for
Fluor’s Phase 2 FEED work will customize a six-reactor SMR power plant with NuScale technology, capable of producing up to 462 megawatts to European codes and standards. Fluor is the majority investor in NuScale, the developer of the only SMR technology that has received design approval from the
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s nearly 34,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of
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Brett Turner
Media Relations
864.281.6976
Jason Landkamer
Investor Relations
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Source: Fluor Corporation
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