Microsoft Pays $16B to Restart Nuclear Plant🚀

Welcome to Nuclear Update, your fusion of nuclear updates and insights – where information and memes combine to power your week.

This is what we got for you this week:

• Microsoft Pays $16 Billion to Restart Nuclear Plant🚀

• IAEA Raises Nuclear Growth Projections for 4th Year in a Row🔥

• Sapporo 5 commit 5.6 Billion USD to Secure Western Fuel Supply Chain💰

• Saudi Arabia Advances Nuclear Energy Plans with First Power Plant⚛️

• Manatees Benefit as Florida Nuclear Plant Receives Extension🐟

Microsoft Pays $16 Billion to Restart Nuclear Plant🚀

Microsoft has signed a landmark $16 billion, 20-year deal with Constellation Energy to restart the Three Mile Island nuclear reactor by 2028.

The plant, famous for its 1979 partial meltdown, was closed in 2019 but will be revived to supply power for Microsoft’s AI data centers.

Microsoft will reportedly pay over $100 per MWh for the reactor's electricity, highlighting the value of consistent nuclear power compared to intermittent renewable sources.

This deal represents a major shift in energy sourcing for tech companies, linking AI's growth to nuclear power and increasing demand for uranium. As AI-driven energy needs surge, nuclear power's role as a stable, net-zero solution is becoming increasingly vital.

IAEA Raises Nuclear Growth Projections for 4th Year in a Row🔥

The International Atomic Energy Agency (IAEA) has raised its nuclear energy capacity growth forecast, projecting a 250% increase from 372 GWe in 2023 to 950 GWe by 2050 in its high-case scenario. The low-case scenario predicts a 40% rise to 514 GWe.

This marks the fourth consecutive year of increased growth projections, with small modular reactors (SMRs) playing a significant role—accounting for 24% of new capacity in the high-case scenario.

The report highlights regional growth, particularly in Central and Eastern Asia, and underscores the role of nuclear energy, the second-largest source of low-carbon electricity in 2023, in addressing climate change and energy security concerns. SMRs and long-term operations are seen as key drivers of future growth.

Sapporo 5 commit 5.6 Billion USD to Secure Western Fuel Supply Chain💰

The Sapporo 5 (U.S., Canada, France, Japan, and the U.K.) issued a joint statement during the 68th IAEA General Conference last Wednesday, where they emphasized the need for nuclear energy to achieve global net-zero emissions and highlighted their commitment to expanding a secure and reliable nuclear fuel supply chain.

The Sapporo 5 has surpassed its target (set at COP28) of mobilizing $4.2 billion in investments, reaching $5.6 billion to enhance enrichment and conversion capacity over the next three years. The group aims to reduce dependence on Russian nuclear fuel and establish a global, resilient supply chain.

They encouraged industry, nuclear utilities, and financial institutions to support these efforts and called on like-minded nations to join in securing a transparent, reliable fuel supply for a net-zero future.

Saudi Arabia Advances Nuclear Energy Plans with First Power Plant⚛️

The kingdom of Saudi Arabia, responsible for about 10% of global oil production, is advancing its nuclear energy and radiation technology plans, including the construction of its first nuclear power plant, as part of a broader effort to diversify its energy mix and support sustainable development.

Saudi Energy Minister Abdulaziz bin Salman emphasized the Kingdom's commitment to nuclear security, safety, and international cooperation.

The Kingdom is also working closely with the IAEA to host workshops on the safety of spent fuel and radioactive waste management and will host an international conference on nuclear emergencies in Riyadh in 2025, aimed at enhancing global preparedness for nuclear and radiological emergencies.

Manatees Benefit as Florida Nuclear Plant Receives Extension🐟

Florida Power & Light has received federal approval to extend the operational licenses of its Turkey Point nuclear reactors, located in Miami-Dade County, until 2052 and 2053, respectively.

Turkey Point is not only integral to Florida's energy mix and the local economy, but its property also serves as a managed habitat for 21 endangered and threatened species. The plant discharges warm water, attracting manatees seeking refuge from cold temperatures. It is estimated that around 60% of Florida’s manatees rely on these warm water outflows to survive winter conditions.

The license extensions will create a demand for approximately 800,000 pounds of uranium fuel per year for the next 20 years. As Florida lawmakers explore nuclear power expansion, including advanced technologies, FPL is considering adding two new reactors, though construction has not yet begun.

Nuclear Nuggets🧽

Egypt announces availability of 6200 job opportunities in Dabaa nuclear power plant.

Amazon Web Services (AWS) is hiring nuclear engineers after the blockbuster deal to build campus next to a traditional nuclear power plant.

The European Parliament has called for an EU ban on imports of Russian goods, including Russian Uranium.

India announced plans to build a large fleet of up to 50 Small Modular Reactors to power hard-to-decarbonize industries like steel and cement.

Meme of the week🤣

Review of the week💪

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