Proposal: Geodyn Solutions – Provision of a 70 MWe Floating Nuclear Power Plant to the Dominican Republic
Executive Summary
Geodyn Solutions proposes deploying a 70 MWe Floating Nuclear Power Plant (FNPP) to the Dominican Republic, providing clean, reliable electricity at $0.17 per kWh to support the nation’s 25% renewable energy goal by 2025 and reduce reliance on fossil fuel imports. , this FNPP features two 35 MWe reactors and can power approximately 100,000 households while cutting CO2 emissions significantly. This proposal outlines operational costs, job creation, ROI, and multifaceted benefits, positioning the Dominican Republic as a Caribbean leader in innovative, sustainable energy solutions.
Operational Costs
Technology Description: The FNPP is a barge-mounted nuclear power station equipped with two pressurized water reactors, each producing 35 MWe (70 MWe total) and 150 MWt of thermal energy (300 MWt total). It includes safety systems meeting International Atomic Energy Agency (IAEA) standards and a 40-year service life with refueling every 10–12 years.
Objective: Deliver 70 MWe of baseload electricity to the Dominican grid at $0.17/kWh, supplementing renewable sources like solar and wind, and reducing dependence on imported fuels (e.g., $649 million in natural gas imports in 2022).
Location: Moored near Santo Domingo or Punta Cana, with grid connection to the national power system.
Project Overview
Costs are based on industry benchmarks for small modular reactors (SMRs) and the adjusted for the Dominican context:
- Capital Expenditure (CAPEX):
- FNPP Construction and Delivery: $500 million (reflecting Akademik Lomonosov’s $480 million cost, adjusted for inflation and transport).
- Grid Connection and Mooring Infrastructure: $50 million (cables, substations, and coastal facilities).
- Contingent Fees: $50 million (for regulatory approvals, delays, or unforeseen risks).
- Total Initial Investment: $600 million.
- Operating Expenditure (OPEX) (Annual):
- Fuel and Refueling: $10 million (uranium fuel, enriched to 20%, refueled every 10 years at $100 million per cycle, amortized annually).
- Operations and Maintenance: $15 million (staff, safety systems, and reactor upkeep).
- Administrative and Overhead: $5 million (regulatory compliance, monitoring).
- Total Annual OPEX: $30 million.
- Decommissioning Reserve: $5 million/year (set aside for end-of-life dismantling after 40 years, estimated at $200 million total).
Electricity Generation
| Category | Calculation | Result |
|---|---|---|
| Output | 70,000 kW × 24 hours × 330 days | 554,400,000 kWh/year |
| Revenue from Electricity | 554,400,000 kWh × $0.17/kWh | $94.25 million/year |
Job Creation
The FNPP project will generate significant employment:
Direct Jobs: 250 positions.
- Engineers and Technicians: 100 (reactor operation, maintenance, and grid integration).
- Safety and Security Personnel: 80 (nuclear safety, radiation monitoring).
- Administrative and Support: 70 (project management, regulatory liaison).
Indirect Jobs: 750 positions.
- Construction and Installation: 300 (mooring, grid infrastructure).
- Supply Chain Roles: 200 (fuel logistics, equipment manufacturing).
- Ancillary Services: 250 (training, local services, environmental monitoring).
Total Jobs Created: 1,000, with emphasis on technical training to build a skilled nuclear workforce.
Return on Investment (ROI)
| Category | Calculation | Result |
|---|---|---|
| Revenue Streams | ||
| Electricity Sales | 554,400,000 kWh × $0.17/kWh | $94.25 million/year |
| Carbon Credit Sales | 500,000 tons CO₂ × $40/ton CO₂e | $2 million/year |
| Total Annual Revenue | $96.25 million | |
| Net Annual Profit | $96.25 million – $30 million (OPEX) | $66.25 million |
| Payback Period | $600 million (CAPEX) ÷ $66.25 million | 9.1 years |
| ROI (Post-Payback) | Annual return on investment, enhanced by long-term stability and carbon incentives. | 11% |
Benefits
- Environmental Impact:
- CO2 Reduction: Approximately 500,000 tons/year (replacing coal or gas plants emitting 0.9 tons CO2/MWh), supporting the Dominican Republic’s 27% greenhouse gas reduction target by 2030 (per NDCs).
- Zero Air Pollutants: No SOx, NOx, or particulate emissions, improving air quality vs. fossil fuel plants.
- Economic Advantages:
- Energy Security: Reduces reliance on imported fossil fuels, saving $100–150 million annually (based on 2022 import costs).
- Affordable Power: $0.17/kWh is competitive with current rates ($0.20–$0.25/kWh), easing electricity costs for households and industries.
- Social Benefits:
- Job Growth: 1,000 jobs bolster economic development in coastal regions.
- Energy Access: Powers 100,000 homes, enhancing reliability in a nation with frequent outages.
- Strategic Alignment:
- Renewable Energy Goal: Complements solar and wind as a low-carbon baseload source, supporting Law 57-07 incentives (100% income tax relief for 10 years).
- Regional Leadership: Establishes the Dominican Republic as the first Caribbean nation with nuclear power, attracting investment and expertise.
Implementation Plan
Phase 1: Feasibility and Approvals (Q2–Q4 2025):
– Conduct environmental and seismic assessments (Caribbean tectonic risks).
– Secure IAEA compliance and Dominican regulatory approval.
– Partner with Russia’s Rosatom (or equivalent) for FNPP design and delivery.
Phase 2: Construction and Delivery (Q1 2026–Q4 2027):
– Build FNPP at a shipyard (e.g., Russia or South Korea).
– Install mooring and grid infrastructure in Santo Domingo or Punta Cana.
Phase 3: Operations and Scaling (Q1 2028 onward):
– Begin electricity generation and grid integration.
– Monitor performance and explore additional units based on demand.
Funding and Incentives
Proposed Funding:
- $400 million from Geodyn Solutions/private investors.
- $200 million via Dominican government loans or international grants (e.g., World Bank, IAEA technical cooperation funds).
Contingent Fee Allocation: $50 million reserved for regulatory delays, public acceptance campaigns, or safety upgrades.
Incentives: Utilize Law 57-07 tax exemptions and pursue Green Climate Fund support for low-carbon projects.
Risk Mitigation
- Safety: Adheres to IAEA standards with passive cooling and containment systems proven in Akademik Lomonosov.
- Public Perception: Includes community engagement and education programs to address nuclear concerns.
- Natural Disasters: Mooring designed for hurricane resistance; barge can be relocated if needed.
Conclusion
- Safety: Adheres to IAEA standards with passive cooling and containment systems proven in Akademik Lomonosov.
- Public Perception: Includes community engagement and education programs to address nuclear concerns.
- Natural Disasters: Mooring designed for hurricane resistance; barge can be relocated if needed.
Notes
- Capacity: Based on Akademik Lomonosov’s 70 MWe output, suitable for the Dominican Republic’s 2,900 MW installed capacity (2022) and growing demand.
- Electricity Pricing: $0.17/kWh aligns with prior methanol proposal and is below current Dominican rates, ensuring affordability.
- ROI: Longer payback (9.1 years) reflects higher CAPEX ($600 million vs. $200 million for methanol), but stable revenue and 40-year lifespan ensure profitability.
- CO2 Savings: Assumes replacement of coal/gas plants; actual savings depend on grid mix (currently 80% fossil-based).
- Jobs: Higher than methanol proposal (1,000 vs. 800) due to nuclear-specific roles and infrastructure.
