Wedoany.com Report-Aug. 17, Norwegian nuclear project developer Norsk Kjernekraft and energy developer Ocean-Power have signed a memorandum of understanding to collaborate on developing floating nuclear power plants using small modular reactors (SMRs). The agreement aims to explore innovative solutions combining emission-free nuclear power with flexible maritime platforms.

The partnership will focus on evaluating concepts, technology options, and business models for floating SMR-based power plants. These projects will comply with Norwegian laws and regulations, leveraging the expertise of Norwegian and Nordic industries. Ocean-Power, known for sustainable power production, is developing floating power plants with combined cycle systems (gas and steam turbines) of 200-250 MW. These plants can supply power to offshore platforms or onshore grids, with CO2 captured from exhaust gases for injection into geological formations, pipelines, or transport for storage or use.

Norsk Kjernekraft plans to build, own, and operate SMR power plants in Norway in partnership with energy-intensive industries. The collaboration seeks to deliver stable, clean energy with minimal land use. Ocean-Power CEO Erling Ronglan stated: “We want to mobilise the Nordic supplier industry to build solutions that can become world-leading. Nuclear power on barges provides completely new opportunities for secure, stable and climate-friendly energy supply - for industry, society and maritime operations. This can be an important part of Norway's contribution to achieving climate goals, while creating value for future generations.”

Norsk Kjernekraft CEO Jonny Hesthammer emphasized the strategic importance of the initiative, saying: “This is an important step in the right direction to ensure a long-term nuclear power investment in Norway that involves the best of Norwegian industry. With reduced activity in the petroleum sector, we need new industrial adventures, and floating nuclear power can be one of them. Together with Ocean-Power, we want to explore how we can deliver stable, clean energy to industry and society – with minimal land use and maximum flexibility.”

This partnership follows Ocean-Power’s recent memorandum with Copenhagen Atomics to study thorium-based molten salt reactors for electricity and heat production in Norway. The collaboration with Norsk Kjernekraft underscores Norway’s commitment to advancing sustainable energy solutions, positioning floating nuclear plants as a flexible and environmentally friendly option to meet industrial and societal energy needs.