Korea Hydro & Nuclear Power, Samsung Heavy Industries and Seaborg Technologies agreed to develop CMSR-based floating nuclear power plants. Credit: Seaborg Technologies.

A consortium comprising Korea Hydro & Nuclear Power (KHNP), Samsung Heavy Industries (SHI) and Seaborg Technologies has unveiled plans to develop floating nuclear power plants.

The floating nuclear facilities will be installed on barges and will feature Seaborg Technologies’ compact molten salt reactor (CMSR) technology.

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The power plants will be installed on barges with a modular design, and able to deliver between 200 megawatts electricity (MWe) and 800MWe. The consortium’s first project is expected to be a 200MWe power barge. 

The project brings together KHNP’s experience in nuclear power generation, SHI’s offshore construction expertise and Seaborg Technologies’ innovation.

KHNP currently owns and operates 25 nuclear power plants and 28 hydroelectric power plants in Korea.

KHNP CEO Jooho Whang stated: “KHNP’s active effort will be aimed at fostering a mutually beneficial partnership between Korea and Denmark, with a focus on cooperation in the next generation nuclear power project, for a safer and cleaner future.”

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The consortium aims to commercialise CMSR-based floating nuclear power plants across the globe, and offers both improved efficiency and inherent safety characteristics.

It is estimated that each 200MWe plant will offset 26 million tonnes of carbon emissions over its 24-year life.

Samsung Heavy Industries CEO Jintaek Jeong stated: “The floating nuclear power plant is a carbon-free energy solution which is efficiently responding to climate change issues, and a next-generation technology expandable to a floating hydrogen ammonia plant that meets the vision of Samsung Heavy Industries.”