Bulgaria and the U.S. have signed a joint statement on nuclear energy cooperation, allowing Bulgaria to collaborate with U.S. laboratories in conducting pre-project studies to assess potential sites for the accelerated deployment of small modular reactors (SMRs), the economy ministry in Sofia said on Tuesday, according to Seenews.

The document, signed during the General Conference of the International Atomic Energy Agency (IAEA) in Vienna, Austria, aims to enhance Bulgaria’s economic security and energy resilience, the economy ministry said in a statement. The study will support the Bulgarian government and project company Kozloduy NPP-New Build tasked with building a new unit at Kozloduy Nuclear Power Plant (NPP) in preparing and justifying the actions towards implementing SMR solutions in Bulgaria.

The US Trade and Development Agency has agreed to provide funding to review SMR technologies to identify those best suited for the Bulgarian conditions, the ministry added.

“Nuclear energy plays a key role in achieving the EU-wide goals of energy security and competitiveness,” energy minister Zhecho Stankov said. “With the support of our partners from the United States, Bulgaria will be able to expand its decades-old experience in the safe operation of nuclear facilities with the most advanced modern technologies, reinforcing its role as a leader in producing emission-free, clean, and affordable energy for the entire Southeast European region.”

Last month, Bulgaria’s government said that it will increase the capital of state-owned Bulgarian Energy Holding by 1.5 billion levs ($902.4 million/766.9 million euro) to finance key projects in the energy sector, including the construction of two new units at Kozloduy NPP.