The power plant is to be constructed under supervision of the Institute for Atomic Energy Research (NITI) in Sosnovy Bor. The Institute has three research reactors in operation, which are mainly used to research new technology for use both in submarines and civilian nuclear installations. The experimental plant will both produce energy and be a showcase for Russia’s newest reactor design, aimed at increasing sales to foreign countries.
The time schedule has not been made public yet, but according to Sosnovy Bor environmental group The Green World, NITI has started to recruit personnel for the project. Safety measures for the plant are worked out in close co-operation with German Siemens.
Estimated construction costs exceed 2 billion USD. The funding is to come through the federal budget, the Leningrad county budget, and from profits earned through energy exports from the currently operating Leningrad nuclear power plant. In addition, Minatom plans include loans from Russian banks and European financial institutions.