Proposal: Geodyn Solutions – Provision of a 106 MWe Optimised Floating Power Unit (OFPU) to the Dominican Republic
Executive Summary
Geodyn Solutions proposes deploying an Optimised Floating Power Unit (OFPU) with a capacity of 106 MWe to the Dominican Republic, delivering clean, reliable electricity at $0.17 per kWh to advance the nation’s 25% renewable energy target by 2025 and reduce dependence on fossil fuel imports. Modeled after Russia’s next-generation OFPUs under construction since 2022, this barge-mounted nuclear power plant features two RITM-200M reactors (53 MWe each) and offers a 60-year service life. This proposal details operational costs, ROI, job creation, and benefits, positioning the Dominican Republic as a Caribbean leader in sustainable, high-capacity energy solutions.
Project Overview
- Technology Description: The OFPU is a floating nuclear power station equipped with two RITM-200M reactors, each producing 53 MWe (106 MWe total) and 175 MWt of thermal energy (350 MWt total). It incorporates advanced safety features meeting International Atomic Energy Agency (IAEA) standards, with a refueling cycle of 10–12 years and a lifespan of up to 60 years.
- Objective: Provide 106 MWe of baseload electricity to the Dominican grid at $0.17/kWh, powering over 150,000 households, enhancing energy security, and supporting economic growth.
- Location: Moored near Santo Domingo or Punta Cana, connected to the national power grid.
Operational Costs
Costs are derived from industry benchmarks for small modular reactors (SMRs) and Russia’s OFPU projects, adjusted for the Dominican context:
1. Capital Expenditure (CAPEX):
- OFPU Construction and Delivery: $650 million (reflecting higher capacity and advanced technology vs. *Akademik Lomonosov*’s $480 million).
- Grid Connection and Mooring Infrastructure: $60 million (cables, substations, coastal facilities).
- Contingent Fees: $60 million (for regulatory approvals, delays, or unforeseen risks).
- Total Initial Investment: $770 million.
2. Operating Expenditure (OPEX) (Annual):
- Fuel and Refueling: $12 million (uranium fuel, enriched to 20%, refueled every 10 years at $120 million per cycle, amortized annually).
- Operations and Maintenance: $18 million (staff, safety systems, reactor upkeep).
- Administrative and Overhead: $6 million (regulatory compliance, monitoring).
- Total Annual OPEX: $36 million.
3. Decommissioning Reserve: $6 million/year (set aside for end-of-life dismantling after 60 years, estimated at $360 million total).
Electricity Generation
| Category | Calculation | Result |
|---|---|---|
| Output | 106,000 kW × 24 hours × 330 days | 838,080,000 kWh/year |
| Revenue from Electricity | 838,080,000 kWh × $0.17/kWh | $142.47 million/year |
Job Creation
The OFPU project will create substantial employment opportunities:
Direct Jobs: 300 positions.
- Engineers and Technicians: 120 (reactor operation, maintenance, grid integration).
- Safety and Security Personnel: 100 (nuclear safety, radiation monitoring).
- Administrative and Support: 80 (project management, regulatory liaison).
Indirect Jobs: 900 positions.
- Construction and Installation: 350 (mooring, grid infrastructure).
- Supply Chain Roles: 250 (fuel logistics, equipment manufacturing).
- Ancillary Services: 300 (training, local services, environmental monitoring).
Total Jobs Created: 1,200 fostering a skilled workforce and economic development.
Return on Investment (ROI)
| Category | Calculation | Result |
|---|---|---|
| Revenue Streams | ||
| Electricity Sales | 838,080,000 kWh × $0.17/kWh | $142.47 million/year |
| Carbon Credit Sales | 750,000 tons CO₂ × $40/ton CO₂e | $3 million/year |
| Total Annual Revenue | $145.47 million | |
| Net Annual Profit | $145.47 million – $36 million (OPEX) | $109.47 million |
| Payback Period | $770 million (CAPEX) ÷ $109.47 million | 7 years |
| ROI (Post-Payback) | Annual return on investment | 14.2% |
Benefits
| Category | Details | Impact |
|---|---|---|
| Environmental Impact | ||
| CO₂ Reduction | 750,000 tons/year (replacing coal/gas at 0.9 tons CO₂/MWh) | Supports 27% GHG reduction target by 2030 |
| Zero Air Pollutants | No SOx, NOx, or particulate emissions | Improves public health vs. fossil fuels |
| Economic Advantages | ||
| Energy Security | Cuts fossil fuel imports by $150–200 million annually | Reduces reliance on costly imports |
| Affordable Power | $0.17/kWh vs. current $0.20–$0.25/kWh | Lowers costs for consumers and industries |
| Social Benefits | ||
| Job Growth | 1,200 jobs created in coastal and urban communities | Boosts local employment opportunities |
| Energy Access | Powers 150,000+ homes | Reduces outages, supports rural areas |
| Strategic Alignment | ||
| Renewable Energy Goal | Provides low-carbon baseload power under Law 57-07 | Qualifies for 100% income tax relief (10 years) |
| Regional Leadership | First Caribbean adopter of advanced nuclear technology | Enhances energy prestige and investment |
Implementation Plan
Phase 1: Feasibility and Approvals (Q2–Q4 2025):
- Conduct environmental, seismic, and social impact assessments (Caribbean tectonic risks).
- Secure IAEA compliance and Dominican regulatory approval.
- Partner with Russia’s Rosatom (or equivalent) for OFPU construction.
Phase 2: Construction and Delivery (Q1 2026–Q4 2028):
- Build OFPU 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 2029 onward):
- Begin electricity generation and grid integration.
- Assess potential for additional OFPUs based on demand.
Funding and Incentives
- Proposed Funding:
- $500 million from Geodyn Solutions/private investors.
- $270 million via Dominican government loans or international grants (e.g., World Bank, IAEA funds).
- Contingent Fee Allocation: $60 million reserved for regulatory delays, public acceptance initiatives, or safety enhancements.
- Incentives: Leverage Law 57-07 tax exemptions and pursue Green Climate Fund support for low-carbon projects.
Risk Mitigation
- Safety: RITM-200M reactors feature passive safety systems (e.g., shutdown without power) proven in Arctic conditions.
- Public Perception: Includes education campaigns and transparency to address nuclear concerns.
- Natural Disasters: Mooring designed for hurricane resilience; barge relocatable if threatened.
Conclusion
Geodyn Solutions’ 106 MWe OFPU offers the Dominican Republic a high-capacity, low-carbon energy solution, delivering electricity at $0.17/kWh, creating 1,200 jobs, and achieving a 14.2% ROI within 7 years. By reducing fossil fuel reliance and advancing climate goals, this project establishes the nation as a Caribbean pioneer in nuclear energy innovation. We invite the Ministry of Energy and Mines to collaborate on this transformative endeavor
Notes
- Capacity: 106 MWe aligns with Russia’s OFPU design (two 53 MWe RITM-200M reactors), surpassing the 70 MWe of *Akademik Lomonosov* and meeting higher demand.
- Electricity Pricing: $0.17/kWh remains competitive, leveraging economies of scale from greater output (838 million kWh vs. 554 million kWh for 70 MWe).
- ROI: Shorter payback (7 years vs. 9.1 for 70 MWe) and higher ROI (14.2% vs. 11%) due to increased revenue, despite higher CAPEX ($770 million vs. $600 million).
- Operational Costs: Reflect higher capacity and advanced technology, with $36 million OPEX vs. $30 million for 70 MWe.
- Jobs: 1,200 vs. 1,000 for 70 MWe, driven by larger infrastructure and operational needs.
- CO2 Savings: 750,000 tons/year assumes replacement of fossil plants; actual savings depend on grid mix (80% fossil-based in 2022)
