Small modular reactor (SMR) is a type of portable nuclear reactor that is smaller than conventional reactor. It is manufactured at a facility/plant and brought to a site to be fully constructed. Small modular reactor (SMR) is a flexible and affordable source of power generation. Demand for Small modular reactor (SMR) is driven by its deployment in brownfield sites in place of decommissioned coal-fired plants, the units of which are seldom very large – more than 90% are under 500 megawatt electrical (MWe), while some are under 50 megawatt electrical (MWe). Thus, capital costs can be lowered when small modular reactor (SMR) is deployed in brownfield sites rather than greenfield projects.
Rapid growth in population, high demand for electricity, and implementation of stringent government regulations to minimize harmful emissions are boosting the demand for nuclear power. Nuclear energy is a clean and reliable energy source. It is anticipated to play a vital role in energy security across the globe. Increase in demand for electricity due to high population growth has resulted in efficient energy systems globally. This is driving investments in the nuclear power business, which is estimated to provide a platform for the deployment of small modular reactor (SMR) in the near future. SMR is less capital intensive than conventional nuclear power plants.