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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

Aim is to build fleet of up to 16 440-MW reactors A mockup of the proposed 440-MW SMR plant. Photo courtesy Rolls-Royce. UK-based nuclear engineering company Assystem has announced it will become part of a UK consortium established to design and build compact nuclear power stations.

The consortium is comprised of Assystem, Atkins, BAM Nuttall, Laing O’Rourke, National Nuclear Laboratory, Nuclear AMRC, Rolls-Royce, Jacobs and TWI.

It is working to design a first-of-a-kind small modular reactor that will be at the heart of the UK’s planned low-carbon economy.

The consortium is matching the £18m investment confirmed by the UK government organisation, UK Research and Innovation (UKRI). The first power station is targeted to be built and connected to the national electricity grid by 2029, with the support of legislation to enable the programme.

Date: Thursday, 09 April 2020
Original article: nucnet.org/news/assystem-joins-rolls-royce-smr-consortium-4-3-2020

The US administration on 2 November announced the reimposition of all US sanctions on Iran that had been lifted under the July 2015 Joint Comprehensive Plan of Action (JCPOA). This is the second raft of penalties reimposed since President Donald Trump withdrew from JCPOA in May, and they cover Iran's shipping, financial and energy sectors. The sanctions that come into force on 5 November penalise countries that do not stop importing Iranian oil and foreign companies that do business with blacklisted Iranian entities, including the central bank, a number of private financial institutions and state-run port and shipping companies. Eight countries, identified by officials as US allies, will receive temporary waivers allowing them to continue to import Iranian petroleum products for a limited period. Pompeo did not identify the countries to be granted the waivers. But according to numerous reports, these include India, South Korea, Turkey, Japan and Italy.

Date: Monday, 05 November 2018
Original article: neimagazine.com/news/newsusa-ramps-up-sanctions-on-iran-6835977

China's two biggest state-owned nuclear power operators on 17 March a joint venture (JV), Hualong International Nuclear Power Technology Co, to export their Generation III Hualong One nuclear power reactor. The JV, based in Beijing is an equal joint venture between China General Nuclear Power Corp (CGN) and China National Nuclear Corp (CNNC). The company chairman is CGN's Zou Yongping and the general manager is CNNC's Xu Pengfei.

Date: Friday, 18 March 2016
Original article: neimagazine.com/news/newschina-prepares-for-nuclear-exports-4843154