Benzinga | Oct 28, 2021 05:33PM EDT

Fluor Reports Will Collab With Bulgarian Energy Holding For Potential New Nuclear Power Units, No Terms Disclosed

Fluor Corporation (NYSE:FLR) announced today that it has signed a memorandum of understanding (MOU) with Bulgarian Energy Holding EAD for the consideration of new nuclear units in Bulgaria. Bulgarian Energy Holding is comprised of a group of companies engaged in the electricity generation, supply and transmission, natural gas transmission, supply and storage and coal mining market in Bulgaria.

"This new agreement exemplifies Fluor's strategy to deliver decarbonization solutions in support of the world's clean energy transition journey," said Jim Breuer, group president of Fluor's Energy Solutions segment. "Fluor has unparalleled experience in the nuclear industry. Coupled with its investment and demonstrated project capabilities with NuScale Power's unique small modular reactor technology, Fluor is positioned as a leader in this global imperative."

Fluor and Bulgarian Energy Holding have agreed to cooperate in evaluating potential program management services, front-end engineering, evaluation of the existing coal-fired fleet for potential nuclear small modular reactor re-purposement projects, and the assessment of the Bulgarian supply chain and other related services.

"The necessity of implementing safe and reliable clean energy power at Kozloduy is well understood in Bulgaria and eastern Europe," said Valentin Nikolov, chief executive officer, Bulgarian Energy Holding. "Fluor is a leading engineering, procurement, construction and project management services company in the energy transition space. Coupled with NuScale's small modular nuclear reactor technology, we can achieve European and Bulgarian policy goals in a more diversified power market, improve the security of energy supply and add sufficient value for the national gross domestic product."

Fluor has been serving the nuclear industry for more than 70 years including the design and construction support of more than 25 nuclear plants, plus nearly 100 million hours of nuclear operations and maintenance work.