😨Iran Escalates Uranium Enrichment Activities

Welcome to Nuclear Update! Just as atoms collide to create something extraordinary, we've gathered news that will spark a reaction—join us for this week's newsletter:

• 😨Iran Escalates Uranium Enrichment Activities

• ❤️Each Nuclear Plant Saves 800 000 Life Years

• 🔎More Details on Amazon's Nuclear Ventures

• ⚖️France Weighs Financing EDF's Six Nuclear Reactors

Also, a special shout-out to Rob, one of our readers, who asked:

"In one of your weekly updates, can you compile a list of countries who currently have nuclear power plants, how many, and who are planning upgrades?"

We've got you covered! Check out the comprehensive list at the bottom of this newsletter.

😨Iran Escalates Uranium Enrichment Activities

Iran announced it will initiate the operation of a “substantial number” of advanced uranium centrifuges, escalating its uranium enrichment activities despite objections from European countries.

This move follows an International Atomic Energy Agency (IAEA) resolution criticizing Iran's nuclear program.

France, Germany, the UK, and the US expressed concern that Iran's enriched uranium stockpile is now over 32 times the limit agreed upon in the 2015.

The West fears that Iran's enrichment levels, reaching up to 60% uranium-235, approach weapon-grade levels, which requires around 90% enrichment.

Despite international pressure to halt these activities, Iran is proceeding, asserting its rights under international agreements.

Nonetheless, Iran affirms that it will continue its technical and safeguards-related cooperation with the IAEA and remains open to constructive engagement with all relevant stakeholders, while steadfastly advancing its peaceful nuclear program.

❤️Each Nuclear Plant Saves 800 000 Life Years

A recent study indicates that the halt in nuclear power plant construction following the 1986 Chernobyl disaster led to increased air pollution from fossil fuel plants, resulting in significant health impacts.

Economists estimate that nearly 400 fewer nuclear plants were built than projected, causing higher emissions and millions of premature deaths globally.

The researchers found that each additional nuclear plant could have saved over 800,000 life years by reducing air pollution.

Despite minimal direct fatalities from nuclear accidents like Three Mile Island and Fukushima, the shift away from nuclear energy increased reliance on fossil fuels, exacerbating air pollution and associated health risks.

The study concludes that the decline in nuclear power deployment resulted in the loss of more than 318 million life years worldwide, cautioning that these estimates illustrate the benefits of continued nuclear energy growth.

🔎More Details on Amazon's Nuclear Ventures

Amazon has released new and specific information about its previously communicated plans to enter the nuclear energy sector.

The company is investing nearly $334 million in a multiyear feasibility study to build small modular nuclear reactors (SMRs) at Hanford, Washington, on the site of an unfinished reactor from the 1980s.

Partnering with Energy Northwest and nuclear engineering firm X-energy, Amazon aims to construct four SMRs that will generate 320 megawatts of power, with the potential to expand to twelve reactors producing 960 megawatts.

Amazon would have priority access to this carbon-free energy for its operations, including data centers.

The company plans to expand this effort nationwide by 2039 to collectively produce 5,000 megawatts, underscoring its significant investment in the future of nuclear energy.

⚖️France Weighs Financing EDF's Six Nuclear Reactors

France is working on an offering to provide an interest-free loan to state-owned utility EDF to finance the construction of six new nuclear reactors.

This financing aims to address EDF's challenges in securing private funding due to its high debt and previous project delays at sites like Flamanville and Hinkley Point.

The plan includes a long-term guaranteed price for the electricity generated, known as a contract for difference.

Estimated to cost over €50 billion, the project seeks to replace aging reactors and secure future energy supplies.

While the exact loan amount is yet to be decided, there is general agreement on providing zero-interest financing during the construction phase.

Approval from the finance minister and the European Commission is required, as the plan constitutes state aid.

⚛️Nuclear Nuggets

Kenya is planning to build its first nuclear plant, with construction starting in 2027 and operation starting in 2034.

Russia’s Rosatom has signed a contract to establish a nuclear center in Ethiopia.

Serbia has removed its decades-old moratorium on nuclear power, according to new legislation passed this week, as the country aims to decarbonise its energy sector in the next 25 years.

Australia-based uranium producer Paladin Energy has warned of a significant supply gap in the global uranium market, forecasting a shortfall of more than 50-million pounds a year of uranium over the next decade.

😂Meme of the Week

💪Review of the Week

† Latest announced/estimated year of grid connection.

Nuclear reactors planned and proposed

About 90 power reactors with a total gross capacity of about 90 GWe are planned, and over 300 more are proposed*. Most reactors currently planned are in countries in Asia, characterized by fast-growing economies and rapidly-rising electricity demand. 

* Planned = Approvals, funding or commitment in place, mostly expected to be in operation within the next 15 years.
Proposed = Specific programme or site proposals; timing very uncertain.

† Under Construction figures include a number of units where construction is currently suspended: Angra 3 (Brazil); Ohma 1 and Shimane 3 (Japan); Khmelnitski 3&4 (Ukraine).

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research