🤑France Invests €300M in Orano

PLUS: Australia’s Nuclear Plans Face Decade-Long Regulatory Delay😔

Author

Fredrik Lundstrom
October 28, 2024

Welcome to Nuclear Update! Just like Uranium-235, this edition is ready to spark a chain reaction—so let’s dive into the nuclear happenings of this week week:

  • 🤑France Invests €300M in Orano

  • 😔Australia’s Nuclear Plans Face Decade-Long Regulatory Delay

  • 🥳Vietnam Revives Nuclear Energy Plans

  • 👉😳UK Leaders Blamed for Failing to Expand Nuclear Sector

🤑France Invests €300M in Orano

France's government injected €300 million euros into Orano, a state-controlled uranium producer, to boost the country's nuclear energy sector.

This capital infusion increased the French state's ownership in Orano to 90 percent, underscoring its commitment to supporting Orano's strategic development and responding to global climate and energy sovereignty needs.

The funding will primarily expand the Georges-Besse II enrichment plant, increasing Orano's enrichment capacity by 33 percent and supporting Europe’s goal to reduce reliance on Rosatom, which holds 43 percent of the uranium enrichment market.

Orano currently sources uranium from Canada and Kazakhstan after suspending activities in Niger due to unresolved issues with the nation's new military government.

😔Australia’s Nuclear Plans Face Decade-Long Regulatory Delay

Australia’s nuclear energy ambitions face significant regulatory challenges, with experts estimating a 10- to 15-year timeline to establish necessary frameworks.

Australian Energy Regulator chair Clare Savage noted that even if nuclear planning began in 2025, the lengthy processes for licensing, safety, environmental, and technical regulations mean most coal plants would retire before nuclear reactors could replace them, likely creating an energy gap.

The Coalition’s plan for seven nuclear reactors, targeting initial sites by 2035-2037, would also need to overcome state and federal bans.

Labor-led committee members expressed skepticism, advocating renewables as more viable in the near term. However, progress on nuclear treaties and safety standards could potentially reduce Australia’s timeline to about a decade.

🥳Vietnam Revives Nuclear Energy Plans

Vietnam has amended its national power plan to reintroduce nuclear energy as part of its strategy to enhance energy security and support economic growth.

Initially approved in 2009 but shelved in 2016 following Japan's Fukushima disaster and budget issues, Vietnam's nuclear ambitions are now being revived to meet rising energy demands.

The country is exploring small modular reactors (SMRs) and has engaged in discussions with countries like South Korea, Canada, and Russia.

Vietnam’s previous nuclear plans, initiated in 2009, involved a 4 GW capacity project with Rosatom and Japan Atomic Power Co.

👉😳UK Leaders Blamed for Failing to Expand Nuclear Sector

In an article in Politico, the decline of the U.K.'s nuclear power industry is highlighted as a major concern, with only one reactor expected to remain by 2028.

While there is strong consensus that nuclear energy is crucial for meeting climate targets and ensuring energy security, the focus has shifted to an unusual public debate over who’s at fault for the lack of new reactors.

Hinkley Point C, a critical nuclear project, faces delays and budget overruns, while further expansions at Sizewell remain uncertain due to funding challenges.

Responsibility for this "failure" is debated across past administrations, with Conservatives, Labour, and Liberal Democrats all criticized for a lack of action.

⚛️Nuclear Nuggets

A Swedish court on Thursday gave the green light to begin construction on a nuclear waste repository where spent fuel will be buried for up to 100,000 years.

Jamaica has signed a memorandum of understanding (MOU) with Canadian Nuclear Laboratories Ltd and Atomic Energy of Canada Ltd for the purpose of diversifying its energy sources to include nuclear energy.

Democrats turns to nuclear power ahead of senate elections to protect slim majority, viewing it as a strategy to appeal to center-right voters.

Russian Rosatom has received an offer from Turkish President Erdogan to build a second nuclear power plant in Turkey.

😂Meme of the Week

💪Review of the Week

Thanks for tuning into Nuclear Update—don’t let your interest decay, because we’ll be back with more fission-worthy insights next week. Until then, stay radiant!

Fredrik

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