Asia Financial’s Post

“…China could approve another 100 nuclear reactors over the coming decade, according to an industry lobby group, as the nation turns itself into the world’s biggest operator of atomic power and potentially a major exporter of the technology. After greenlighting a record 11 reactors so far in 2024, Beijing could commit to a “realistic target” of 10 new approvals each year through 2035, Tian Jiashu, deputy secretary-general of the Chinese Nuclear Society, said at the BloombergNEF Summit in Shanghai on Tuesday. China is already on track to leapfrog the US and France to become the global leader for nuclear power generation by the end of the decade. It has more reactors under construction than any other nation after approving 10 in each of the last two years. However, maintaining that pace over the next decade is likely to require more private capital to fund what’s largely been a state-led effort. Such a rate of expansion would see China’s nuclear power capacity almost quadrupling to 200 gigawatts by 2035, enough to meet 10% of electricity demand, Tian said. It could then double to 400 gigawatts by 2060, supplying 16% of total consumption at that point, he said. China’s nuclear power industry has strong momentum at the moment, but it will be challenging to keep it going at the current pace. So far, reactors have only be placed in coastal areas, but a lack of sites would require them being built inland in areas that pose pollution and water management challenges. Ensuring safety will also be crucial, as any accident could derail development and have major political blowback. While other countries have slowed the pace of nuclear rollouts since the Fukushima disaster in 2011, China has pushed ahead. International interest in the stable and emissions-free energy source has revived in the last few years as countries look for ways to decarbonize their grids. As one of only a handful of suppliers of the technology, Beijing is positioning itself to become a lower-cost exporter to the developing world. China is focused on the Hualong One, a so-called third generation reactor with enhanced safety systems. It also brought the world’s first fourth-generation reactor online last year, and is developing a small modular reactor called Linglong One. State-owned firms — including China National Nuclear Power Co., State Power Investment Corp. and China General Nuclear Power Corp. — have long dominated China’s nuclear industry, but the capital-heavy sector has been calling for reforms to attract more private investment. It’s likely that the amount of non-state investment in companies could rise to about half from around 20% at the moment, Tian said. “The mixture of shareholders will enhance quality and investment efficiency.”

The discussion around the longevity and economics of nuclear power is complex. This article highlights that while the Coalition proposes nuclear plants with an 80-100 year lifespan, the international experience shows the average age of active reactors is 32 years, with none operating beyond 60. Given the significant challenges and costs, including long construction times and economic viability, it's crucial to champion renewable energy sources. Solar and wind power are advancing rapidly, providing scalable and cost-effective solutions. Embracing these technologies is essential for a sustainable and resilient energy future. #cleanenergy #renewables #augustamargaretriver #climateactionnow

World Nuclear News: Industry groups ask governments to commit to nuclear expansion Read more here:

More good news for New Nuclear. I would now suggest that it's time for Scotland to re-think past decisions and move towards SMR deployment for sites such as Hunterston and Dounreay.

The contrasting strategies of France and Germany highlight different political and public inclinations towards nuclear power.

📢 Congress has approved the ADVANCE Act, which...     🔹 Speeds up nuclear reactor licensing  🔹 Simplifies export approvals & regulatory costs  🔹 Promotes small reactors at old fossil fuel sites

Finland and the UK will intensify their cooperation in a broad range of peaceful uses of nuclear energy under a newly signed agreement that recognises the potential for new and emerging nuclear technologies, including for non-power applications.

Large-scale nuclear power station planned for Anglesey in Wales -

Big Tech fuels nuclear resurgence with small modular reactors - MEED: Big Tech is fuelling the revival of nuclear power to run its energy-hungry data centres. #bigdata #cdo #cto

Sweden to start building new nuclear reactor by 2026: PM: Stockholm (AFP) Sept 27, 2024 Sweden will begin construction on a new nuclear reactor before the country's next legislative election in 2026, Prime Minister Ulf Kristersson said in an interview published on Friday. His right-wing coalition government, propped up by the far-right Sweden Democrats, has vowed to massively ramp up nuclear energy in Sweden but a formal decision on the type of reactor to be built has yet to be #nuclear #nuclearjobs