Latest News

Filters

Filter by tags: United Kingdom Russia Clear all tag filters

71 news articles found


Government appears to favour ‘Boot’ model alread used by Russia Koeberg, near Cape Town, is the only commercial nuclear power station in South Africa. The Nuclear Industry Association of South Africa (Niasa) has proposed six possible funding options for new nuclear, but government officials have suggested the most likely is a “build, own, operate and transfer” (Boot) model similar to that used by Russia for project including Akkuyu in Turkey.

Niasa told Engineering News that the very high proportion of the cost of energy that comes from the repayment of capital means interest rates will be fundamental to the viability of any new nuclear project in South Africa.

The association said real interest rates – which are adjusted for inflation – on state debt could be in the range of 2% to 3%, while real interest rates on high risk equity finance could vary from 10% to 15%. It said this explains why some new nuclear projects such as state-supported projects in China could be very competitive while others, such as the private equity funded Hinkley Point C in the UK, needed some kind of state guarantee such as long-term power purchase agreements.

Niasa identified six financing options that could be used to fund a new nuclear programme. The first was state funding for the entire project or state provided sovereign loan guarantees using reserves and cash flows from state-owned companies, as was the case with the United Arab Emirates’ Barakah project.

Date: Wednesday, 20 May 2020
Original article: nucnet.org/news/industry-association-proposes-financing-options-for-new-build-5-2-2020

The head of the Atomic Energy Organisation of Iran (AEOI), Ali Akbar Salehi, said on 8 April in a message marking National Nuclear Technology Day that Iran’s nuclear activities were continuing despite the novel coronavirus outbreak and continuing US sanctions.

Date: Wednesday, 15 April 2020
Original article: neimagazine.com/news/newsiran-pushes-ahead-with-nuclear-development-despite-pandemic-restrictions-7871976

The main challenges facing the nuclear industry are not in the production and delivery of electricity, but in securing the policy support required for it to expand its contribution of sustainable and low-carbon energy. This was the message of Philippe Costes, senior advisor at World Nuclear Assocation, to delegates at the Nuclear Power Plants Expo & Summit in Istanbul this week.

Date: Friday, 06 March 2020
Original article: world-nuclear-news.org/Articles/Speech-Policy-support-for-nuclear-in-the-global-en

The impetus for new build is being spurred by a need to reduce reliance on polluting coal China has 10 nuclear units under construction including two Generation III Hualong One plants at Fangchenggang. China, with its state nuclear companies backed by a government hungry for development, is the most active nation for building new nuclear power plants. That trend that is likely to continue, although confirming lucrative export deals for its reactor technology still runs far behind the pace set by Russia, which says it had 39 reactors under construction or planned overseas as of 2018.

This compares to only two reactors under construction overseas by China, both in Pakistan, although in the UK China has a stake in EDF’s Hinkley Point C project and plans for Chinese technology at Bradwell B. At Sizewell C in Suffolk EDF wants to build a clone of Hinkley Point C if it can attract enough private investment. CGN holds a 20% share.

The government has said it wants to build 30 reactors overseas by 2030. China and Russia both see Africa, where about 600 million people live without electricity, as something of a golden fleece and are pursuing nuclear agreements, which lay the groundwork for new-build, in a number of African nations. Small modular reactors and floating reactors could be an option for isolated areas. China has already said it is close to starting work on its first floating unit, but reliable details are few and far between.

The impetus for nuclear power in China is increasingly due to air pollution from coal-fired plants. To meet its climate goal as stipulated in the Paris agreement, China will need to reduce its coal power capacity by 40% over the next decade, according to Global Energy Monitor’s analysis. At present, this seems unrealistic. In addition to roughly 1,000 GW of existing coal capacity, China has 121 GW of coal plants under construction, which is more than is being built in the rest of the world combined.

Date: Friday, 24 January 2020
Original article: nucnet.org/news/china-keen-to-match-pace-set-by-russia-in-overseas-construction-1-4-2020

New-build projects are making progress, but governments are still struggling with finding the right financing package for large reactors The delayed Flamanville-3 is one of three EPR units under construction in Europe. The others are at Olkiluoto in Finland and Hinkley Point in the UK. Photo courtesy EDF. Western Europe

The UK is facing a major challenge to replace its aging fleet of Generation I nuclear power plants, many of which are scheduled to shut down in 2023.

The project by French state utility EDF to build two Generation III EPR units at Hinkley Point C in Somerset is on track for connection to the grid by 2025. Once in commercial operation the two units will provide up to 7% of the total electricity demand. Two similar units are planned for the Sizewell site in Suffolk.

However, press reports have suggested EDF is in “a race against time” to secure a funding deal for Sizewell C as delays risk making the project prohibitively expensive.

According to The Times newspaper EDF has hired Rothschild as financial adviser for the project and says it wants a “definitive way forward” from the government this year so it can start construction in 2022.

Date: Friday, 17 January 2020
Original article: nucnet.org/news/what-lies-in-store-in-2020-1-4-2020

The foreign ministers of France, Germany and the UK have triggered a dispute resolution mechanism over the nuclear deal with Iran - the Joint Comprehensive Plan of Action (JCPOA) - following the Middle Eastern country's further step away from its commitments. Josep Borrell, EU foreign affairs chief and coordinator of the JCPOA joint commission, said he had received today a letter from the three ministers for resolution through the mechanism, as set out in paragraph 36 of the agreement.

Date: Wednesday, 15 January 2020
Original article: world-nuclear-news.org/Articles/European-leaders-trigger-dispute-mechanism-of-Iran

Iran said yesterday it will ignore the limit on the number of uranium enrichment centrifuges agreed under the Joint Comprehensive Plan of Action (JCPOA), thus withdrawing from the last operational restriction imposed by the 2015 deal. The statement, reported by the Mehr news agency, followed the US assassination of Iranian General Qasem Soleimani last week.

Date: Tuesday, 14 January 2020
Original article: world-nuclear-news.org/Articles/Iran-scraps-limit-on-uranium-enrichment

Iran said yesterday it will ignore the limit on the number of uranium enrichment centrifuges agreed under the Joint Comprehensive Plan of Action (JCPOA), thus withdrawing from the last operational restriction imposed by the 2015 deal. The statement, reported by the Mehr news agency, followed the US assassination of Iranian General Qasem Soleimani last week.

Date: Tuesday, 07 January 2020
Original article: world-nuclear-news.org/Articles/Iran-scraps-limit-on-uranium-enrichment

The Bill Gates-backed company is developing two Generation IV reactor designs, but is also carrying out research into materials testing and radioisotope production A computer generated mockup of the TerraPower Travelling Wave Reactor. Courtesy TerraPower. In just a few years TerraPower – the US nuclear company backed by Bill Gates – has transformed itself from developing a single advanced reactor design to becoming a hub of innovation in a number of key areas of nuclear science.

It has added to its portfolio projects to manufacture medical isotopes, develop process heat applications and deploy modelling software for use in designing advanced nuclear reactors.

In addition to its work on the Travelling Wave Reactor (TWR), the company has also begun, in cooperation with multiple US partners, to develop a molten chloride salt reactor (MCFR).

The TWR is designed to be capable of using fuel made from depleted uranium, which is currently a waste byproduct of the uranium enrichment process.

Date: Wednesday, 18 December 2019
Original article: nucnet.org/news/if-we-don-t-innovate-in-nuclear-other-countries-will-12-2-2019

An International Atomic Energy Agency (IAEA) Pre-Operational Safety Review Team (Pre-OSART) team concluded an 18-day mission to unit 3 of the Mochovce NPP in Slovakia on 5 December. The team observed a commitment to safety by owner/operator Slovenske Elektrarne ahead of the unit’s start of commercial operation and also identified areas for further improvement. Slovakia is building two 471 MWe VVER-440 pressurised water reactors at the site where two 470 MWe units are already in operation.

Date: Wednesday, 11 December 2019
Original article: neimagazine.com/news/newsiaea-assesses-safety-at-mohovce-3-7547877