Romania approves final investment decision for 462 MW NuScale SMR.

Romania’s state-owned nuclear utility Nuclearelectrica has approved the final investment decision (FID) for a 462 MW small modular reactor (SMR) power plant based on technology from US developer NuScale Power.

However, Romanian media report that the rollout will follow a phased approach: only one of the six planned 77 MW reactor modules will initially be constructed and tested before a decision is made on building the remaining five.

If completed as planned, Romania would become the first European Union member state to deploy NuScale’s SMR technology. The project is being developed by RoPower Nuclear at the site of a former coal-fired power plant in Doicești, northwest of Bucharest in Dâmbovița county.

RoPower Nuclear is a 50-50 joint venture between Nuclearelectrica and Nova Power and Gas (NPG), part of the Cluj-based E-Infra Group.

Six modules planned, but phased development

The full 462 MW facility, initially estimated at EUR 4.9 billion, is designed to consist of six identical SMR units using NuScale’s VOYGR technology. NuScale, headquartered in the US state of Oregon, will serve as the technology provider.

Shareholders of Nuclearelectrica endorsed the FID for the project in Doicești, formally moving it from the analysis phase into implementation. Yet, according to local reports, a key condition for accelerating the process is the construction and operational testing of a single 77 MW reactor first.

Only if the pilot module proves successful would the company proceed with the remaining five units. Even if additional modules are purchased, RoPower would initially assume responsibility solely for the first reactor.

In its official statement, Nuclearelectrica said the FID was adopted “based on a series of additional conditions aimed at establishing a solid framework of support and cooperation, at the level of partnerships and authorities, for the optimal development and implementation” of the project.

Replacing coal with nuclear capacity

Romanian Energy Minister Bogdan Ivan said the decision cements Romania’s ambition to lead Europe’s next-generation nuclear sector.

“The final investment decision for the SMR project in Doicești marks the transition from the analysis phase to the implementation phase, consolidating Romania’s position at the forefront of the new European nuclear industry. We are replacing 600 MW from a former thermal power plant with 462 MW of clean, stable, and predictable energy,” Ivan stated.

Over the next six months, the project will enter a financial structuring and partnership consolidation phase, including defining financing mechanisms and advancing talks with potential investors.

Target: early next decade

According to Nuclearelectrica CEO Cosmin Ghiță, the global SMR project pipeline has expanded by 65% since 2021, reaching a planned capacity of 22 GW. The company aims to bring the Doicești facility online at the beginning of the next decade. Earlier projections indicated the first module could enter commercial operation by mid-2033.

RoPower CEO Valentin Ovidiu Nae described the development as securing “60 years of clean energy” for the site.

The investment is expected to generate around 200 permanent jobs, approximately 1,500 positions during construction, and 2,300 jobs in component manufacturing and assembly.

Ownership shifts and funding hurdles

Romania’s Ministry of Energy holds more than 82% of Nuclearelectrica. It has twice rejected attempts by DSPE Beta Private Equity Fund to acquire a stake in RoPower Nuclear.

On the technology provider’s side, NuScale has seen changes in its shareholder structure. Goldman Sachs recently acquired a 9% stake in the company. Vanguard Group increased its holding to 5.5%, while BlackRock raised its stake to 3.4% from 2%. Meanwhile, Fluor Corp., NuScale’s largest shareholder with 37.3%, has announced plans to fully exit its position by mid-year.

Preparatory works and utility connections at the Doicești site have already been completed.

There is also the possibility that the SMR facility could operate off-grid in the future, supplying dedicated power to energy-intensive AI hubs and data centers — an option that reflects the growing intersection between advanced nuclear technologies and digital infrastructure.