Page 40 - Energize December 2022

TECHNICAL

The nuclear renaissance:

Power for the future?

Nuclear power usage has been in a decline for the past several decades, with several countries

having plans to shut down nuclear plant altogether, or to halt further construction. Now, nuclear
power is experiencing a renaissance, due largely to changed circumstances and new goals, and
construction of new plant and developments of new technologies are going ahead at full steam.

by Mike Rycroft, Energize

“The time of nuclear renaissance has achieving deep decarbonisation targets increases significantly”. In other words, it would
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come,” President Macron of France said be almost impossible to decarbonize without it. Renewables are also facing an increasing
on 10 February this year in a speech opposition.
outlining his country’s energy policy for The number of new nuclear power plants (NPPs) planned has increased dramatically,
2050 and retracing “the great adventure as have plans to extend the life of existing plants and halt the shutdown of plants. Today
of civil nuclear in France.” the 430 nuclear power reactors operating in 32 countries provide approximately 386 GW
of installed capacity, supplying some 10% of the world’s electricity and around a quarter
ountries that were once nuclear of all low-carbon electricity. According to the International Atomic Energy Agency (IAEA),
leaders have lost that ability, and there are 57 new reactors under construction in 18 countries.
Care now scrambling to regain that
position, with government support for Nuclear renaissance drivers
the development of advanced nuclear One of the main drivers of the renaissance is the move towards decarbonisation of power
generation systems, and improvement generation and the shift away from the use of coal and gas. Many of the new planned
of existing designs and safety. Others NPPs are meant to replace older coal-fired plants rather than extend capacity. Nuclear
who chose not go the nuclear route for is starting to be seen as a carbon free alternative that provides firm or baseload power,
pragmatic reasons are now revising their without the need for additional storage. Nuclear power has been granted “green” or
views due to the changed circumstances. carbon free status by the EU, which allows investment in NPP.
Nuclear power is back, after years The other main driver is the energy crisis in Europe and the emerging crises in other
of being avoided by the power sector, countries, that have established the need for local reliable firm power supplies, and as
and has found a new home amongst coal is not on the agenda for many countries, nuclear is the most attractive alternative
the “green” carbon-free technologies. firm power source. There is a growing acceptance that the introduction of variable
Perhaps this has happened as an unseen sources such as wind and solar cannot proceed without a firm baseload generating
or unanticipated result of the planned facility, and experience from several countries that have embraced renewables has shown
transition to carbon free power sources, that neither wind nor solar can provide a reliable energy source on their own, or in
but certainly also as a result of the new combination.
awareness of the importance of energy Further impetus comes from the development of small modular reactors that promise
sovereignty (independence) and of to reduce construction time and allow distributed firm generation. Several designs have
having a reliable and secure local power successfully been placed in service, and the technology is well beyond concept stage.
industry.
The world’s energy demand is such Challenges facing nuclear
that solar and wind power are unlikely Fundamental opposition to nuclear is still rife and much of the discussion on nuclear
to satisfy it. A comprehensive analysis energy is deeply ideological. Nuclear projects face significant hurdles, including extended
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conducted at the Massachusetts construction periods and related risks, long licensing processes and manpower shortages,
Institute of Technology (MIT) in 2018 plus long-standing issues related to waste disposal, nuclear proliferation and local
concluded that although a number of opposition.
low- or zero-carbon technologies can The financing of new nuclear power plants, especially in liberalised markets, has
be advantageously employed in various always been difficult and the financial crisis seems almost certain to have made it even
combinations, nuclear is virtually more so. The huge capital requirements, combined with risks of cost overruns and
essential as a contributing low-carbon regulatory uncertainties, make investors and lenders very cautious, even when demand
technology. Without it, “the cost of growth is robust. 3

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