The world’s only floating nuclear plant, Russia’s Akademik Lomonosov, began commercial operation in May. Courtesy Rosatom. South Korea’s Kepco Engineering & Construction Company and Daewoo Shipbuilding & Marine Engineering have signed a memorandum of understanding to cooperate on the development of floating nuclear power plants.

The two companies said they will develop technology for offshore nuclear power plants equipped with Bandi-60S reactors, a small modular reactor design that Kepco Engineering & Construction has been developing since 2016.

According to documents published by the Korean Nuclear Society, the Bandi-60S is a 60-MW block-type pressurised water reactor unit. The block-type design means the main components are directly connected, nozzle-to-nozzle, instead of using connecting pipes. This can eliminate the risk of a large-break loss-of-coolant accident.

The plant has a fuel cycle of 48-60 months and a design life of 60 years.

Floating nuclear plants are seen as a way of providing energy to remote regions. In May, the world’s only floating nuclear plant, Russia’s Akademik Lomonosov, began commercial operation.