Damona supported the client in identifying the optimal multi-SPV structure, with a particular focus on execution and operational considerations, complementing the legal structuring work performed by external counsel. The client was seeking a structured and auditable decision-making framework based on quantitative criteria, allowing future traceability and governance over strategic decisions.

A central component of the engagement was the facilitation and moderation of a strategic workshop with the executive board of the SMR vendor.

To support this objective, Damona delivered the following activities:

• Scenario definition: Development of multiple SPV structuring scenarios involving the relevant stakeholders, allocation of responsibilities, and alignment of incentives across projects and regions.
• Scenario scoring: Quantitative assessment framework based on key project dimensions, including financing, operational execution, governance, and stakeholder incentives.
• Risk analysis: Development of a risk matrix to identify and assess the principal risks associated with each structuring option.

This engagement provided the client with a clear roadmap for the phased deployment of its reactor technology, supported by an aligned governance and incentive structure across all key stakeholders.

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Damona supported a European SMR developer in evaluating potential joint venture and partnership structures for its FOAK deployment. The client was assessing different industrial configurations to balance control, financing requirements, and long-term scalability, while aligning with expectations from utilities, investors, and public stakeholders.

The objective of the engagement was to identify, evaluate, and prioritise a set of viable industrial and partnership models, and to provide a structured, decision-ready framework to support internal alignment and external partner engagement.

To meet this objective, Damona conducted the following activities:

• Diagnostic and model development: Assessment of the client’s business model, funding logic, and stakeholder landscape, followed by the definition of relevant industrial and JV archetypes (including EPC-led, BOO/IPP, EaaS, and platform-based structures), covering ownership, governance, and financing approaches.
• Structured evaluation and benchmarking: Comparative assessment of each model across key criteria such as risk allocation, control, scalability, financing attractiveness, and regulatory alignment, supported by benchmarking from nuclear and other capital-intensive sectors.
• Decision framework and stakeholder alignment: Development of a structured evaluation matrix and facilitation of a leadership workshop to assess trade-offs across models and converge on a shortlist of preferred configurations.

Damona’s engagement provided the client with a clear and structured view of its strategic options, enabling alignment across leadership and establishing a robust foundation for discussions with potential partners and investors.

The post SMR industrial project delivery model appeared first on Damona | Strategy consulting | Nuclear industry.

Large infrastructure projects are rare in the nuclear sector due to their high capital cost, technical complexity, and the demanding regulatory environment. Getting started on the right foot—with clarity and strategic foresight—is essential to coordinating the many moving parts and stakeholders involved. This is particularly true for projects in the nuclear fuel cycle, where challenges are magnified by the limited number of existing facilities worldwide, whether for conversion, enrichment, or fuel fabrication.

Planning to build such a facility presents a significant challenge and requires a comprehensive feasibility study, including:

• Financial modelling and investment planning,
• Estimates for key resource requirements, such as electricity, gas for process heat, industrial chemicals, and water,
• Human resources planning, including recruitment needs and workforce availability,
• A clear understanding of the regulatory landscape, licensing procedures, and approval timelines,
• Geographic and logistical analysis to determine optimal site location, infrastructure access, and transport routes,
• Consideration of localisation opportunities for civil works, machining, and component supply,
• Assessment of local socio-economic impact, including job creation, tax revenue, and community benefits,
• Projections of shareholder returns and long-term value creation for investors,
• An inclusive approach to stakeholder engagement, addressing government bodies, industry partners, and local communities.

Such a study builds confidence across all parties—demonstrating that the project is not only technically and economically viable but also grounded in realistic timelines and implementation strategies.

This project was executed with great care, drawing on Damona’s extensive international network of nuclear professionals and industry experts. Through a robust business model and feasibility analysis, including sensitivity testing and scenario planning, Damona helped align stakeholders around a common understanding of the conditions needed for success. This clarity enabled informed decision-making and strengthened the project’s ability to move forward with credibility and shared support.

Date: 1st October 2024

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