Fluor’s NuScale Power also signs development cost reimbursement agreement with UAMPS
IRVING, Texas–(BUSINESS WIRE)–Fluor Corporation (NYSE: FLR) announced today that Utah Associated Municipal Power Systems (UAMPS) awarded the company a cost-reimbursable development agreement to provide estimating, development, design and engineering services for its Carbon-Free Power Project. Fluor will book the initial undisclosed value in the first quarter of 2021 and as it accrues.
“Fluor’s development agreement with UAMPS for its Carbon-Free Power Project is a monumental milestone toward providing clean load following, base load energy for UAMPS members using NuScale Power’s unique small modular reactor design,” said Alan Boeckmann, executive chairman of Fluor. “Fluor has been a preeminent player in the nuclear industry for 70 years and is well positioned to assist UAMPS and the DOE to accomplish their objectives to provide carbon-free energy for its customers and to deploy a commercially viable small modular reactor with safety, security and performance characteristics that exceed the operational capabilities of current certified designs.”
The U.S. Department of Energy (DOE) recently provided UAMPS a multi-year cost-share award for up to $1.355 billion in funding, subject to future year appropriations, to aid in the development of the first small modular nuclear reactor project in the U.S. The DOE funding is intended to mitigate licensing and financial risk and to accelerate commercial deployment schedules in order to meet critical U.S. energy, environment and economic goals.
Fluor has been serving the nuclear industry for more than 70 years including the design and construction support for more than 25 nuclear plants, plus nearly 100 million hours of nuclear operations and maintenance work. Fluor also provides the following nuclear industry services: decontamination and decommissioning, emergency response and recovery, environmental remediation, laboratory management, national security, nuclear power plant support services, site closure management and waste management.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is a global engineering, procurement, fabrication, construction and maintenance company with projects and offices on six continents. Fluor’s 45,000 employees build a better world and provide sustainable solutions by designing, building and maintaining safe, well executed projects. Fluor had revenue of $17.3 billion in 2019 and is ranked 181 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has served its clients for more than 100 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.
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