Financiers back idea of nuclear expansion, but what are the challenges?

Martin Cheetham is the station director of the EDF-run Heysham 2 nuclear power plant on the Lancashire coast in northwest England. It has two advanced gas-cooled reactors which were first connected to the grid in 1988. They have a combined power of 1.24 GW and had an initial design life to 2023 before being extended to 2028.The second unit at Heysham 2 power plant set a record with 940 days of continuous operation from 2014 to 2016 and the plant is now closing in on setting a new record for electricity generated by a nuclear power plant in the UK. As it does so, there are currently checks going on which could see a further extension to its life. In this episode Cheetham talks about the similarities and differences between nuclear and his earlier work at thermal energy plants, he explains what decisions on Heysham's lifetime extension rest on, and why such decisions are different for the UK's fleet of AGRs compared with pressurised water reactors. He also highlights the potential for the Heysham site to become home to a new generation of nuclear power, in the form of small modular reactors. Key links to find out more:See pictures from inside Heysham 2World Nuclear NewsKazatomprom, MonAtom join forces in strategic partnershipPreliminary Czech ruling rejects Westinghouse and EDF appealsEngineering contract for Bulgarian units signed with Hyundai E&C and WestinghouseSlovenia's referendum on new nuclear cancelledEmail newsletter:Sign up to the World Nuclear News daily and weekly news round-upsContact info:[email protected] credit:  Presenter Alex Hunt. Co-produced and mixed by Pixelkisser Production 

Global tech giants Microsoft, Google and Amazon have all announced deals which will see them using nuclear energy in the coming years. In this edition we outline what has been announced, why, and also consider the significance for new nuclear energy in the future. There is also a report from Claire Maden on what was a very timely session at last month's World Nuclear Symposium focusing on connecting end users with 24/7 energy. Those who featured on the panel include Todd Noe, Director of Nuclear & Energy Innovation at Microsoft, Claude Lorea, Cement, Innovation and ESG Director for the Global Concrete and Cement Association, Lou Martinez Sancho, Chief Technology Officer and Executive Vice President, R&D and Innovation, for Westinghouse and The Nuclear Company's Juliann Edwards.Key links to find out more:World Nuclear NewsAmazon invests in X-energy, unveils SMR project plansGoogle and Kairos Power team up for SMR deploymentsConstellation to restart Three Mile Island unit, powering MicrosoftHow end-users can help drive nuclear new-buildEmail newsletter:Sign up to the World Nuclear News daily or weekly news round-upsContact info:[email protected] credit:  Presenter Alex Hunt. Co-produced and mixed by Pixelkisser Production 

A group of 14 global financial institutions have expressed their support for the call to triple nuclear energy capacity by 2050. Their message, during New York Climate Week, stated their recognition that global civil nuclear energy projects have an important role to play in the transition to a low-carbon economy and means they join 25 countries and more than 120 companies already signed up to that tripling goal.Jonathan Cobb, senior programme lead, climate, at World Nuclear Association, explains the significance of the pledge from the 14 institutions - Abu Dhabi Commercial Bank, Ares Management, Bank of America, Barclays, BNP Paribas, Brookfield, Citi, Credit Agricole CIB, Goldman Sachs, Guggenheim Securities LLC, Morgan Stanley, Rothschild & Co, Segra Capital Management, and Societe Generale.But how can that support be translated into firm investments? Well, in this finance-focused episode, we also hear what some of the senior decision-makers said at World Nuclear Symposium earlier in September, about the challenges for private finance in new nuclear, and their ideas for smoothing that path. Among those featuring are: Vicki Kalb, Global Head of ESG and Sustainability Research at UBSSeb Henbest, Group Head of Climate Transition at HSBCBill Lacivita, Partner at McKinsey & CompanyEd Cook, Global Head of Capital Markets at BlackRockCosmin Ghita, Chief Executive Officer at NuclearelectricaKim Lauritsen, Senior VP, Enterprise Strategy & Energy Markets at Ontario Power GenerationLászló Varró, VP, Strategy Insights & Scenarios at Shell InternationalKey links to find out more:World Nuclear NewsInternational banks express support for nuclear expansionNet Zero NuclearEmail newsletter:Sign up to the World Nuclear News daily or weekly news round-upsContact info:[email protected] credit:  Presenter Alex Hunt. Co-produced and mixed by Pixelkisser Production 

Total nuclear electricity generation rose in 2023 despite a small drop in overall capacity, according to World Nuclear Performance Report 2024. In this episode, lead author Jonathan Cobb, senior programme lead, climate, at World Nuclear Association, joins us to pick out the key stats and trends from the annual collection of operating facts and figures.He explains how the average operating capacity of nuclear power plants has been increasing -  with trends showing that older nuclear plants operating better than they ever have. That, and a better year for output in France, helps to explain how output was able to rise, despite overall capacity not following suit. Also in the episode, Juliann Edwards, chief development officer at start-up The Nuclear Company, explains the company's goals  of getting fleet-scale nuclear energy projects up and running in the USA.Edwards, who is also chair of US Women in Nuclear, talks as well about the initiatives and progress made in improving the gender balance and wider diversity within the nuclear workforce. Key links to find out more:World Nuclear NewsWorld Nuclear Performance Report 2024Nuclear fleet maintained high performance in 2023Startup brings fresh approach to US nuclear deploymentUS Women in NuclearEmail newsletter:Sign up to the World Nuclear News daily or weekly news round-upsContact info:[email protected] credit:  Presenter Alex Hunt. Co-produced and mixed by Pixelkisser Production 

Steady Energy is developing the LDR-50 small modular reactor with the initial goal of decarbonising district heating systems. The CEO of the Finnish company, Tommi Nyman, explains why the decision to focus on heat rather than electricity was taken.The company was spun out of VTT, Finland's national research lab, and was prompted by its researchers noting that 10% of CO2 emissions come from heating water or steam to 150C and thinking "why not build something simple that would only cover low temperature heat markets". "In the context of the climate crisis, nuclear is a very good option, but the problem has been getting projects economically sound so that nuclear can be utilised without large subsidies. We know that the most economical way to use nuclear is just to generate thermal energy without using the heat to create electricity," he tells host Alex Hunt. Nyman added that simplicity has been key to their design, "by only producing heat you can reduce the amount of equipment in a nuclear power plant by 50%". The cost of energy they are aiming at is below EUR40 per MWh, depending on how the utility wants to operate it and the aim is to have a first plant delivered in 2030.Also in this episode World Nuclear News's Claire Maden reports on events in India, South Africa and uranium developments in the USA and Australia.Key links to find out more:World Nuclear NewsFinnish municipal decision-makers favourable to SMRsIndia's NTPC confirms plans for nuclear subsidiarySouth Africa pauses nuclear procurement processEmail newsletter:Sign up to the World Nuclear News daily or weekly news round-upsContact info:[email protected] credit:  Presenter Alex Hunt. Co-produced and mixed by Pixelkisser Production 

Southern Nuclear's Senior Vice President for Vogtle 3 and 4, John Williams, discusses the achievement and "tremendous pride" from everyone involved in completing the first new nuclear units built in the USA for more than 30 years. He says that both AP1000s have been performing well, with Vogtle 3 operating at 98% capacity since being put into service a year ago. And, as well as the direct jobs - 9000 workers were on site at peak construction - he says that people can see the benefits of carbon-free energy being produced and understand how important it is for the future of energy in the US and further afield.The project had many well-documented challenges to overcome - the impact of Fukushima, Westinghouse's Chapter 11 bankruptcy in 2017 and the global pandemic - and Williams says there have been many lessons learned which Southern Company is committed to sharing with utilities in the US and other countries as they embark on their own projects.  The first lesson, he says, is the need for resilience, which has been demonstrated by the project partners Georgia Power, Oglethorpe Power, MEAG Power and Dalton Utilities.In the World Nuclear News round-up Claire Maden reports on the passing of the ADVANCE Act in the US, Kazakhstan's plans for a referendum later this year on new nuclear, and the latest uranium-mining developments in Niger.Key links to find out more:World Nuclear NewsCommercial operation marks completion of Vogtle expansionKazakhstan's nuclear energy referendum to be held this yearNiger revokes mining permit for Imouraren projectSouthern Nuclear: Plant VogtleEmail newsletter:Sign up to the World Nuclear News daily or weekly news round-upsContact info:[email protected] credit:  Presenter Alex Hunt. Co-produced and mixed by Pixelkisser Production 

The historian, author and academic Jean-Baptiste Fressoz explains why he thinks that the idea of energy transition is a simplistic and flawed one, noting that what has actually happened throughout history has been different energy sources piling up on top of each other - such as more wood being used after the "switch" to coal, and more coal being used after the emergence of oil.Even if nuclear and renewables manage to decarbonise the electricity sector, he says, the big issue will be what is done to cut carbon emissions from other sources, such as the cement industry, unless wider choices are made.  Fressoz is the author of Une nouvelle histoire de l'énergie - which in English will be More and More and More, An All-Consuming History of Energy.Also in this episode we hear from Ian Chapman, CEO of the UK Atomic Energy Authority, about the achievements of JET (the Joint European Torus) which has ended its 40-year life full of breakthroughs on the fusion front. He explains that there is still much to learn from its decommissioning, with more lessons for future fusion projects as well as for the fission industry.In the news round-up Claire Maden reports on the US law prohibiting the importation into the USA of unirradiated, low-enriched uranium that is produced in the Russian Federation or by a Russian entity, and Warwick Pipe brings us up-to-date with progress on China's first small modular reactor.Key links to find out more:World Nuclear NewsJean-Baptiste Fressoz: More and More and MoreAs JET's vital role celebrated ... could UK rejoin Euratom in 2028?US President signs uranium import prohibitionControl room commissioned at Chinese SMRWNN Email newsletter:Sign up to the World Nuclear News daily or weekly news round-upsContact info:[email protected] credit:  Presenter Alex Hunt. Co-produced and mixed by Pixelkisser Production 

A special report on the World Nuclear Fuel Cycle 2024 international forum, co-organised by the Nuclear Energy Institute and World Nuclear Association. The two day event included discussions from leading industry figures on all aspects of the nuclear fuel cycle, including uranium mining, conversion, and enrichment companies, utilities, fuel suppliers and waste management specialists. One key question was the challenge of being able to supply the fuel which would be required for the tripling of nuclear energy capacity which many countries have pledged to aim for as part of their climate change goals. Also in Claire Maden's special report, hear about the use of innovative technologies in the nuclear fuel sector - including machine learning and neural network techniques and laser enrichment.The fuel cycle event was held alongside the World Nuclear Spotlight event, focused on Kazakhstan and its plans for a nuclear power programme.The news round-up includes BWXT announcing expansion plans, and International Atomic Energy Agency Director General Rafael Mariano Grossi outlining why the agency is not pointing the finger of blame over the drone attacks on or near the Zaporizhzhia nuclear power plant.Key links to find out more:World Nuclear NewsFuel cycle players explore opportunities and challengesWorld Nuclear Fuel Cycle 2024BWXT announces expansion of Ontario manufacturing plantIAEA's Grossi explains why blame is not being attributed for Zaporizhzhia attacksWNN Email newsletter:Sign up to the World Nuclear News daily or weekly news round-upsContact info:[email protected] credit:  Presenter Alex Hunt. Co-produced and mixed by Pixelkisser Production  

Professor Tim Tinsley prefers not to use the label of nuclear waste, instead referring to "legacy material". And it's not hard to see why, given the projects currently taking place to extract radionuclides from the material for use in pioneering treatments for cancer. It is also providing a new source of power and heat for spacecraft.Tinsley, Professor of Space Nuclear Power at the University of Leicester and Account Director for Space and Radioisotopes at the National Nuclear Laboratory in the UK, joins host Alex Hunt to give details on the life-saving and space-exploring projects and  explains what value there is hidden within what has long just been seen as a problem.With the promising early stage clinical trials, and the plans to provide power for a mission to Mars in 2028,  the newly discovered value in the legacy material is one of the factors which may be taken into account in plans for the safe longterm disposal of the material. There could yet be future discoveries that more of the material could become valuable in the years ahead, so, suggests Tinsley, being able to dispose of the material in a form that it is retrievable at minimal cost might be a good idea.Also this month, there is a report on the gathering of leaders and senior government representatives at the first-of-its-kind Nuclear Energy Summit in Brussels, including snippets of what the IAEA's Director General Rafael Mariano Grossi and co-host Belgian PM Alexander de Croo had to say. Plus Ursula von der Leyen, President of the European Commission, Hungary’s Prime Minister Viktor Orban, French President Emmanuel Macron and COP29 host Azerbaijan's Foreign Minister Jeyhun Bayramov. Key links to find out more:World Nuclear NewsLeaders commit to 'unlock potential' of nuclearNuclear Energy Summit DeclarationNational Nuclear LaboratoryUniversity of LeicesterNuclear Energy SummitWNN Email newsletter:Sign up to the World Nuclear News daily or weekly news round-upsContact info:[email protected] credit:  Presenter Alex Hunt. Co-produced and mixed by Pixelkisser Production 

The ambitious aim for NexGen Energy, is to be supplying 25% of the world's mined supply of uranium - and about 50% of the western world's mined supply - when its Rook 1 project in Athabasca Basin, Saskatchewan, Canada starts production, says its CEO, President and founder, Leigh Curyer.He joins host Alex Hunt and Claire Maden to outline how he got into the industry and the decision to set up NexGen - and the good news that interrupted a Valentine's Day meal in 2014.As well as outlining the plans and likely timeline for the Rook 1 project - and further exploration in the area - Leigh also gives his thoughts on the global uranium market, and prospects more broadly for the nuclear energy sector in the coming years, including signs of a change of mood in his native Australia. The World Nuclear News reports this month are from Claire Maden, on India's growing nuclear energy plans, and Warwick Pipe, who covers the recent International Energy Agency's ministerial meeting communique recognising nuclear as one technology for achieving nergy security and decarbonisation.Key links to find out more:World Nuclear NewsNexGen EnergyIEA Ministerial Meeting recognises role of nuclear India to seek nuclear investors as Kakrapar units inaugurated Ministerial approval for NexGen uranium project mail newsletter:Sign up to the World Nuclear News daily or weekly news round-upsContact info:[email protected] credit:  Presenter Alex Hunt. Co-produced and mixed by Pixelkisser Production