About The Project
PT ThorCon Power Indonesia is proposing to the Indonesian Government to develop and build the ThorCon 500 MW TMSR (FOAK) with a private investment of around $US 1,2 billion with commercial operation target in 2028 through an Independent Power Producer scheme with a selling price of electricity of less than $0.007 per kWh.
The project will be completed in three phases: 1) constructing a non-fission test bed platform to test the passive safety and thermohydraulic system by the end of 2022; 2) constructing the (TMSR500 MW) prototype plant in a South Korean shipyard in 2024, and then transporting it to the Indonesian site. So, by mid-2025, fission and other tests, including a real-life Fukushima scenario test, can begin to demonstrate that the plant can safely handle a station blackout without releasing radiation. 3) The commercial operation is expected to begin in 2028. – This methodical, step-by-step approach reduces risk for both investors and governments while improving confidence.
ThorCon will transfer knowledge and technologyies to Indonesian state-owned enterprises, such as PT PAL Indonesia, with which ThorCon has already signed a Memorandum of Understanding (MOU) to construct the TMSR500 components, including reactors. ThorCon is also funding fuel salt research and development with Institut Teknologi Bandung, Indonesia’s leading engineering university, as well as the University of California Berkeley and Virginia Tech University, so that the fuel salt can eventually be manufactured in Indonesia and serve as the foundation for the Indonesia nuclear industry.
We are planning to build extra capacity up to 3000 MW by 2035 or six more units after ThorCon’s first unit starts operating in 2028, if the Indonesian Government agrees. This is in line with Indonesia’s 2060 net-zero emission target, which calls for nuclear power to account for 15% of the country’s energy mix by 2060. This translates to 90 GW of nuclear power contribution by 2060, implying that Indonesia will need to add 3GW of nuclear power every year from 2030 onwards. Then, ThorCon plans to establish a TMSR500 facility in Indonesia after 2035, with a manufacturing capacity of 10 units per year, or the equivalent of 5,000 MW, with a workforce of 5000–7000 people, which will match Indonesia 2060 net-zero emission target.
ThorCon has been advise by the Indonesian Government to prepare for implementation by conducting a number of studies, including feasibility studies, site studies, grid studies, public perception surveys, high-level safety assessments, local content and nuclear industry roadmap studies, and ecological and environmental studies. Which is now being completed and will be presented to the Indonesian Government for evaluation as a National Strategic Project by early next year.
ThorCon has also gained endorsement and cooperation through MOU with the Governor of Bangka Belitung Province where the ThorCon plan to put the Prototype plant on an uninhabited island with 32 kilometers-off the coast of Bangka Island.
The Indonesian Government, through the Deputy for Coordination of Maritime Sovereignty and Energy of the Coordinating Ministry of Maritime and Investment has sent a letter dated August 4, 2021 to IAEA Deputy Director-General, Head of Department of Nuclear Safety and Security, Ms. Lydie Evrard, to ask the IAEA to do a high-level safety assessment of ThorCon safety document in coordination with Indonesia Nuclear Regulatory, Bapeten. On August 30, Ms. Lydie Edvard has responded to the letter from the Ministry, agree with the request, and has appointed Mr. Alexander Duchac as the contact point which hopefully will be started by the end of October and lasted for 4 months. ThorCon has coordinated and arrange to have advance training with BAPETEN regarding the preparation for the IAEA assessment.