SEOUL, Aug 14 (Reuters) – TerraPower and South Korea’s SK Innovation signed on Friday a preliminary global agreement on small \u200cmodular reactors (SMRs), Seoul’s Industry Ministry said, opening a path \u200cfor the SK Group affiliate to participate in the U.S. company’s projects at \u200bhome and abroad. <\/p>\n
The agreement was signed at a meeting in Seoul between TerraPower co-founder Bill Gates, SK Group Chairman Chey Tae-won and Industry Minister Kim Jung-kwan, the ministry said. <\/p>\n
The deal gives SK Innovation, \u200cthe parent of South \u2060Korea’s largest oil refiner, an opportunity to take part in development of TerraPower’s SMR projects in the \u2060United States and overseas, the ministry said. It did not disclose financial terms or the scope of any investment. <\/p>\n
TerraPower, backed by Gates, is \u200bdeveloping \u200bits sodium-cooled Natrium reactor project in \u200bKemmerer, Wyoming. The company \u200creceived a construction permit from the U.S. Nuclear Regulatory Commission in March and is targeting commercial operation in 2031, the ministry said. <\/p>\n
South Korea’s Doosan Enerbility said on Friday it won a contract from TerraPower to manufacture key components for the reactor, including the \u200creactor vessel, support structures and internal structures, \u200bwithout disclosing the value of the \u200bdeal. <\/p>\n
South Korean companies including \u200bSK and HD Hyundai have made financial investments \u200cin TerraPower and are also seeking \u200broles in equipment \u200bsupply, operations and construction for its U.S. and overseas projects, the ministry said. <\/p>\n
The ministry said growing electricity demand from AI \u200binfrastructure and data \u200ccentres was increasing global interest in SMRs, creating opportunties \u200bfor Korean suppliers to enter emerging overseas supply chains. <\/p>\n
(Reporting by \u200bJoyce LeeEditing by Ed Davies) <\/p>\n","protected":false},"excerpt":{"rendered":"SEOUL, Aug 14 (Reuters) – TerraPower and South Korea’s SK Innovation signed on Friday a preliminary global agreement…\n","protected":false},"author":2,"featured_media":119214,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[10352,61670,31,61671,240,1363,33,14727],"class_list":["post-119213","post","type-post","status-publish","format-standard","has-post-thumbnail","category-korea","tag-bill-gates","tag-industry-ministry","tag-korea","tag-overseas-projects","tag-sk-group","tag-sk-innovation","tag-south-korea","tag-terrapower"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/119213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=119213"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/119213\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/119214"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=119213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=119213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=119213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}