South Korea’s Korea Hydro & Nuclear Power (KHNP) and Samsung Heavy Industries (SHI) and Denmark’s Seaborg Technologies have announced a consortium to develop floating nuclear power plants.

KHNP owns and operates 25 nuclear power plants along with 28 hydro-electric power plants. SHI is a leading shipbuilding and offshore construction company while Seaborg Technologies is a nuclear energy company.

The factory-produced power plants incorporating Seaborg Technologies' Compact Molten Salt Reactor (CMSR) technology, will be installed on barges with a modular design able to deliver from 200MWe [Megawatts electric] to 800MWe, the Danish firm said in a press statement.

The consortium's first project is expected to be a 200MWe power barge, the statement said.

(Writing by SA Kader; Editing by Anoop Menon)