Within the framework of ATOMEXPO-2024 Rosatom and TSS Group signed an agreement on the main terms of a joint venture (JV) for the construction and operation of a fleet of nuclear floating power units (FPUs) for foreign markets. The document continues the work the companies have done to promote small-scale nuclear power abroad.

The shares in the joint venture will be distributed on a parity basis. The project involves the commencement of construction of a series of floating power units using RITM-200M reactor units with a capacity of at least 100 MW and a service life of 60 years, and the subsequent sale of electricity from the FPUs to consumers abroad.

“We are seeing a great deal of interest in floating nuclear power both in Russia and abroad. Today, the product line includes floating power units that are capable of operating in the harsh conditions of the Arctic and in countries with warm climates. We offer foreign partners modern and reference low-carbon solutions for power supply with the highest predictable electricity tariff among power sources of similar capacity,” said Vladimir Aptekarev, Deputy Head of Rosatom’s Machine-Building Division.

“Floating power units are an efficient solution for current and future energy shortage problems in regions with a rapidly developing economy. Today we see high demand for stable and green power in almost all countries of Africa and the Middle East. I am confident that the investment potential of floating nuclear power units will substantially increase in the coming years as new nuclear technology is rolled out in order to meet the growing global power demand. We believe that the largest sovereign wealth funds will become major drivers of investment in this technology, and the FPU market will rapidly grow,” commented Sergei Velichko, Chairman of the Board of Directors of TSS Group.

Floating power units (FPU) are a new, efficient and environmentally friendly solution to the problems of power supply in remote areas, large investment projects in mining and energy-intensive industrial facilities. The modularity of FPUs allows for the fastest and most flexible capacity expansion and the ability to provide customers with the amount of energy they need. Floating power units have great commercial potential in Russia and abroad due to the possibility of obtaining a predictable electricity price for decades.

In 2023, Rosatom and TSS Group signed a framework agreement on the basic conditions for the creation of a power fleet for foreign markets based on floating power units (FPUs) with RITM-200M reactors.

The Machine-Building Division of Rosatom has been appointed as a single integrator for a new business line, Energy Fleet, in 2023, leading the construction of floating power units and the sale of the electricity they generate both in Russia and abroad. In addition, the companies of the holding are engaged in the production of RITM-200 reactor units. These units were the basis of the FPUs.

The ATOMEXPO International Forum is the main event of the global atomic industry. It is the largest exhibition and business platform for discussing the current state of the atomic industry and setting trends of future development. Held since 2009, the Forum is attended by managers of key companies in the global atomic industry, government agencies, international and public organizations, and leading experts. The Forum format includes an exhibition and congress with an extensive business program, the key event of which is a plenary session. Panel discussions and roundtables discuss topics that are most important for the atomic industry. Leading companies in the global atomic industry and related industries present at the exhibition their technologies and competences.

As part of demonstrating Rosatom’s commitment to the climate agenda, carbon footprint compensation for the XIII International Forum ATOMEXPO-2024 will be provided using special certificates.