ROSATOM and TSS Group, two Russian companies, have inked a framework agreement during the St. Petersburg International Economic Forum to collaborate on the development of a nuclear-powered energy fleet utilising floating power units (FPUs) for international markets, according to a statement by Rosatom on Thursday.

TSS Group is Russia's largest developer and manufacturer of integrated well completion and energy supply solutions to the oil and gas sector, with a focus on the Middle East.

The statement said the parties will establish a joint venture (JV) to construct a series of FPUs with a minimum capacity of 100 MW and a service life of up to 60 years. The FPUs would be equipped with RITM-200M reactors.

The target markets include the Middle East, Southeast Asia, and Africa, the statement said, noting that the commissioning of the energy fleet is anticipated to take place between 2029 and 2036.

Deputy General Director for Machinery Building and Industrial Solutions of Rosatom, Andrey Nikipelov, highlighted the commercial potential and advantages of floating power units, including their environmental friendliness, energy independence, operational stability, and predictable electricity prices.

“Now we are offering the market a whole family of FPUs that differ in power capacity and purpose, designed in Arctic and tropical versions,” he said.

Sergey Velichko, Chairman of the Board of Directors of TSS Group, emphasised the need for stable, economically predictable, and environmentally clean energy sources, with the Middle East showing high demand. He highlighted the unique combination of power source characteristics provided by floating nuclear power units and the modularity of the source, which enables quick and flexible increases in power capacity based on the client's requirements.

Rosatom is currently working on the construction of four floating power units for the Baimskaya ore zone as part of an ecological energy supply project.

The world's first floating nuclear power plant (FNPP) Akademik Lomonosov was commissioned in 2019.

(Writing by Senthil Palanisamy; Editing by Anoop Menon)