The site is home to two 700 MWe PHWRs (Image: screengrab from NPCIL video)
Unit 7 at the Rajasthan Atomic Power Project is the third 700 MWe indigenous pressurised heavy water reactor to be connected to the Indian grid.
The unit - which is also known as RAPP-7 - reached first criticality in September and was connected to the northern grid early on Monday.
"With the clearance from the Atomic Energy Regulatory Board AERB and passing all tests with flying colours, unit 7 is now synchronised with the National Grid," Nuclear Power Corporation of India Ltd (NPCIL) said in a video released to mark the achievement.
Once a new unit has been connected to the grid, it undergoes a process known as power ascension testing when its power levels are gradually raised - under approval from the regulator - until it reaches full capacity. It will then enter commercial operation.
RAPP-7 follows Kakrapar 3 and 4 in a planned fleet of 700 MWe pressurised heavy water reactors (PHWRs): unit 3 achieved first criticality in July 2020, was connected to the grid in January 2021 and was declared to be in commercial operation in July 2023. Unit 4, which reached first criticality in December 2023, was connected to the grid in February and entered commercial operation in March 2024.
"NPCIL has mastered the art of building and operating these reactors," the company said.
A second 700 MWe unit, RAPP-8, is also under construction at the site at Rawatbhata, which is already home to six operating PHWRs with a total capacity of 1180 MW. NPCIL said it expects RAPP-8 to be operational "in 2025-26".
The government has sanctioned the "fleet mode" construction of further 700 MWe units at Kaiga in Karnataka; Gorakhpur in Haryana; Chutka in Madhya Pradesh; and Mahi Banswara in Rajasthan.Earlier this year, Minister of Finance Nirmala Sitharaman outlined ambitions for the development of at least 100 GW of nuclear energy by 2047 to support India's energy transition efforts. This new capacity would include the development of Indian-designed small modular reactors to be operational by 2033, with amendments to Indian legislation to encourage private sector participation in nuclear projects.India welcomes newest Rajasthan unit to the grid
The European Investment Bank and Orano have signed a loan agreement for EUR400 million (USD434 million) to partly fund the project to extend the Georges Besse II uranium enrichment plant in Tricastin in southern France. The project will increase the plant's capacity by more than 30%.
The Georges Besse II centrifuge enrichment plant - which superseded the Georges Besse I gaseous diffusion enrichment plant that ended production in June 2012 - was officially opened in December 2010 and reached its full production capacity of 7.5 million Separative Work Unit (SWU) in 2016.
In October 2023, the board of directors of Orano approved an investment of about EUR1.7 billion to raise the production capacity of the plant. The decision followed requests from some US and European customers who are seeking alternatives to Russian sources of supply.
The project consists of building a further four modules identical to the fourteen existing modules that use "the same recognised and proven technology, offering the best guarantees in terms of safety, competitiveness and energy savings, while having a reduced environmental footprint", the company said. The additional cascades will increase the plant's capacity by 2.5 million SWU.
This project was the subject of a notification under Article 41 of the Euratom Treaty on 7 September 2023. The European Commission issued a positive opinion on 9 October 2024, underlining the project's compliance with the Euratom treaty and its contribution to the security of supply in Europe.
The European Investment Bank (EIB) - the long-term lending institution of the European Union, owned by its Member States - has now agreed to lend Orano EUR400 million towards the Georges Besse II expansion project.
EIB Vice-President Ambroise Fayolle said: "This significant EIB financing contributes to European energy independence. Decarbonised energies are essential to enable the European Union to meet the ambitious climate neutrality objectives it has set itself."
"We are very proud of this cooperation, which represents further recognition of the strategic value of our investment plan for the climate and for the production of sustainable and decarbonised energy," said Orano CEO Nicolas Maes. "The financing granted by the EIB for the capacity extension at our Georges Besse II enrichment plant is perfectly in line with this objective, as the project will make it possible to take the number of households supplied with low-carbon energy up to a total 120 million. Not least, in the current geopolitical context, this support for our activities from the EIB will help to strengthen security of supply in the European Union."Orano held a ceremony in October last year to mark the laying of the foundation stone of the Georges Besse II plant extension. The new modules are expected to begin operating in 2028, with complete commissioning of the extension in 2030. EU funding for French enrichment plant expansion
Kansai Electric Power Company has received approval from Japan's Nuclear Regulation Authority to operate unit 1 at its Takahama nuclear power plant - the country's oldest operating reactor - beyond 50 years.
The utility applied to the NRA in November last year to operate the 780 MWe (net) pressurised water reactor (PWR), which entered commercial operation on 14 November 1974, for a further ten years after conducting an ageing technical evaluation and formulating a long-term facility management policy.
At that time, Kansai said: "As a result of the ageing technical evaluation conducted this time, we have confirmed that the plant can be maintained in a sound manner even 50 years after the start of operation by implementing additional maintenance measures for some equipment and structures as a long-term facility management policy, in addition to the current maintenance activities for equipment and structures that are important for safety."
At a 16 October meeting, the NRA approved Kansai's plan for ageing countermeasures at the unit over the next ten years.
"We will continue to actively incorporate the latest knowledge from Japan and abroad and reflect it in plant design and equipment maintenance, thereby striving to improve the safety and reliability of nuclear power plants," Kansai said.
Under regulations which came into force in July 2013, Japanese reactors had a nominal operating period of 40 years. One extension to this - limited to a maximum of 20 years - could be granted, requiring among other things, a special inspection to verify the integrity of reactor pressure vessels and containment vessels after 35 years of operation.
However, in December 2022, the NRA approved a draft of a new rule that would allow reactors to be operated for more than the current limit of 60 years. Under the amendment, the operators of reactors in use for 30 years or longer must formulate a long-term reactor management plan and gain approval from the regulator at least once every 10 years if they are to continue to operate. The new policy effectively extends the period reactors can remain in operation beyond 60 years by excluding the time they spent offline for inspections from the total service life.
The legislation was approved by Japan's Cabinet in February last year and enacted in May 2023. It comes into full effect in June next year.Takahama 1 - which was restarted in July 2023 after being offline since January 2011 - becomes the first Japanese unit to be approved for operation beyond 50 years. Japanese reactor cleared for use beyond 50 years
Eletronuclear's Angra 1 nuclear power unit has been authorised by Brazil's National Nuclear Energy Commission to operate to 2044 - extending its life to 60 years.\
Angra 1 reached criticality in 1982 and entered commercial operation in 1985. The Westinghouse pressurised water reactor has a design capacity of 640 MWe. Eletrobras Eletronuclear also operates Angra 2, a 1275 MWe PWR which began commercial operation in 2001.
The request for the life extension was submitted in 2019. Since then there has been a "meticulous technical evaluation" of the request, a series of studies, four missions undertaken by International Atomic Energy Agency experts and an Integrated Implementation Plan for Safety Improvements.
As part of this plan there will be upgrades to control systems, physical protection structures and radioactive waste management protocols, the National Nuclear Energy Commission (CNEN) said. They will be implemented during maintenance and refuelling shutdowns.
CNEN’s Director of Radiation Protection and Safety Alessandro Facure said: "Each aspect of this process was analysed with technical rigour and responsibility. Our mission is to ensure that the Angra 1 operation remains safe for workers, the environment and society."
Eletronuclear said it will be investing BRL3.2 billion (USD550 million) between 2023 and 2027 and noted that similar plants in the USA had been going on to receive approval for further extensions to 80 years.
In May the company said that it also uses the US Nuclear Regulatory Commission's License Renewal Application process and said that measures already taken to extend the service life include new steam generators, changing the reactor pressure vessel cover and replacing the main transformers, as well as implementing ageing/obsolescence management systems. It said it would get short-term financing from its main shareholders, ENBPar and Eletrobras, while negotiations were completed with the US Export-Import Bank for the full modernisation programme.
President of Eletronuclear Raul Lycurgo said: "The renewal of Angra 1 should be celebrated and praised as it is the culmination of the great work carried out by our technical team. Everyone has dedicated themselves to the maximum over the last five years and have proven that Angra 1 continues to be completely safe and able to deliver steady, clean energy for the development of Brazil."
Angra 1 generated 4.78 million MWh in 2023 and has had a load factor of 88.24% for the past five years. It delivers enough energy to supply a city of two million people.
CNEN said that an important part of the authorisation process had been the Local Emergency Plan and the Fukushima Response Plan, implemented after 2011 - "CNEN teams will continue to monitor the implementation of these measures, including technical improvements and emergency response protocols, which are fundamental to the safety and protection of the plant and surrounding areas".The decision was a "milestone" not just in terms of energy production but also in showing the maturity of the regulatory system in Brazil. It said Eletronuclear will also be required to carry out a Periodic Safety Reassessment in 2033 "where compliance with the highest international safety standards will be verified". Brazil's Angra 1 approved for 20-year life extension
The president, centre, IAEA director general, right and Demian Reidel, left (Image: Argentina's presidential office)
Argentina's President Javier Milei has said "nuclear energy will make its triumphant return and we will not only not be left behind, but we intend to be pioneers".
The president, standing between his chief adviser Demian Reidel, who will oversee a new nuclear programme, and International Atomic Energy Agency Director General Rafael Mariano Grossi, said "we are contemporaries of a true technological revolution ... the development of artificial intelligence opens a new frontier for this manifest destiny that we share as a species" but "many of the free nations that have always been at the forefront of technological development are now afraid of innovation and punish the technological sector with taxes and regulations". Argentina by contrast was "removing the regulations that have tied the hands of our people for decades and inviting the world's big capitals to cooperate with Argentina".
He added: "The potential for development in artificial intelligence is so immense that conventional energy will not be enough to supply this new demand, which is why we are convinced that a resurgence of nuclear energy will occur throughout the world, because despite the countless campaigns of discredit that some international foundations have mounted, nuclear energy is the only source that is sufficiently efficient, abundant and rapidly scalable to cope with the development of our civilisation.
"So, after decades of decline, nuclear energy will make its triumphant return and we will not only not be left behind, but we intend to be pioneers."
The outline of the plan announced, according to various reports, is initially for the construction of a small modular reactor on the Atucha site. According to the Financial Times, Reidel said the plan was to use Argentine technology, developed by its nuclear engineers, but with funding from a US investor joining a joint venture with Invap, with the goal of having a first plant online by 2030. No mention was made during the announcement about the existing Argentine SMR project, the CAREM-25.
The second stage of the government's nuclear plan is reported to be to develop uranium reserves to cover domestic demand and position the country as an exporter of high-value-added fuel elements.
Grossi said that the IAEA had signed a memorandum of understanding agreement with Argentina following the announcement, which aimed to expand their collaboration on small modular reactors "to meet the energy demands of data centres and AI applications".
The background
Argentina currently has three operable nuclear power units - Atucha 1, connected in 1974, Atucha 2, which was connected in 2014 and Embalse which was connected to the grid in 1983. Between them they generate about 5% of the country's electricity. There have been plans for a fourth unit, as Atucha III, with an EPC contract signed with China's CNNC in February 2022. It is unclear what the current status is of this project and whether it will be part of the nuclear programme.The CAREM SMR - the name comes from Central Argentina de Elementos Modulares - is a 32 MWe prototype and is Argentina's first domestically designed and developed nuclear power unit. First concrete was poured in 2014, but construction has since been suspended a number of times. It is currently estimated to be about two thirds complete, and a Critical Design Review was ordered for it in May this year with reported uncertainty over funding. Argentina aims to be nuclear pioneer, President Milei says
The Financing the Tripling of Nuclear Energy event (Image: Hechler Photographers)
A group of 14 global financial institutions have expressed their support for the call to action to triple nuclear energy capacity by 2050.
Last December, the United Nations Climate Change Conference (COP28) in Dubai saw the 198 signatory countries to the UN Framework Convention on Climate Change call for accelerating the deployment of low-emission energy technologies including nuclear power for deep and rapid decarbonisation, particularly in hard-to-abate sectors such as industry. In addition, 25 countries at COP28 pledged to work towards tripling global nuclear power capacity to reach net-zero by 2050.
At New York Climate Week, a group of 14 financial institutions on Monday stated their recognition that global civil nuclear energy projects have an important role to play in the transition to a low-carbon economy. They further expressed support for long-term objectives of growing nuclear power generation and expanding the broader nuclear industry to accelerate the generation of clean electrons to support the energy transition.
The institutions include: 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.
"Capital markets and financing can play a critical role in developing and growing nuclear energy projects worldwide. Financial institutions can provide experience, global presence, services and solutions to support the industry," according to World Nuclear Association.
Opening the event, John Podesta, Senior Advisor for International Climate Policy to President Biden, said: "Our collective mission is clear - nuclear energy is clean energy, and if we are to ensure a liveable planet, build secure, sustainable supply chains for clean energy and bolster prosperity around the world, we need to make sure that nuclear energy does its part. I know we can make it happen - as long as we work together."
Slovenian Prime Minister Robert Golob added, "The only riddle left to solve is the financial side, the financial costs. Financial markets need to adapt and develop new financial instruments in order for nuclear energy to become competitive with other CO2-free energy sources."
"It is time to take concrete action towards necessary expansion of nuclear energy," said Sweden's Minister for Energy, Business and Industry and Deputy Prime Minister Ebba Busch. "The Swedish government is exploring a proposed financing model which includes government-backed loans, contracts-for-difference (CfDs) and risk-sharing mechanisms. The aim of the proposal is to significantly improve the conditions for nuclear new build in Sweden and with it, a more sustainable future."
Last month, a Swedish government study proposed that state aid be given to companies for investments in new nuclear power following an application procedure. It said a new legislative act should regulate conditions for receiving the support, the support measures, and what an application must contain.
James Schaefer, senior managing director of Guggenheim Securities, said: "New nuclear power is both clean and safe, and more importantly proven, with a number of nations now operating highly advanced and commercially viable third and fourth-generation fission technologies. It is essential that we accelerate the progression of planned projects into plants on the ground given the huge demand coming down the line for data centres and AI technologies. This will require nuclear companies, plant owners, data centre and technology companies, together with banks and financial institutions to collaborate closely."
"Including nuclear energy as a zero-carbon technology alongside renewables is essential to meeting the world's carbon reduction goals and ensuring that heavy industrial manufacturers like Nucor have a reliable and clean electricity supply to continue growing, prospering, and providing high-paying jobs," said Benjamin Pickett, vice president and general manager of public affairs and government relations at Nucor Corporation.
"Since COP28 in Dubai last year, we have witnessed a step change in momentum across the nuclear sector, buoyed by a significant increase in demand for clean electrons for data centres and AI, with global power demand for this sector alone set to double by 2026," said Mohamed Al Hammadi, Managing Director and CEO of the Emirates Nuclear Energy Corporation and chairman of World Nuclear Association.
"With the support of 14 global banks and financial institutions witnessed this morning on the sidelines of New York Climate Week, it is clear that not only is nuclear energy viewed as a crucial enabler to decarbonise the power sector, but it also fits the profile for sustainable and transition financing, especially as we now see multiple nuclear plants being delivered efficiently, providing confidence to the market and a clear market signal that nuclear is a proven, bankable route to energy security and net zero in parallel."
Last week, ten industry associations issued a communiqué during the second Roadmaps to New Nuclear conference in Paris, organised by the OECD Nuclear Energy Agency. They called on all OECD member states to set out clear plans for nuclear energy deployment. Among the eight key areas highlighted by the associations were: ensuring ready access to national and international climate finance mechanisms for nuclear development; ensuring that multilateral financial institutions include nuclear energy in their investment portfolios; and providing clarity to investors on the funding and investment recovery mechanisms available for nuclear projects and including nuclear energy in clean energy financing mechanisms.
Sama Bilbao y León, Director General of World Nuclear Association, welcomed Monday's announcement from leaders in the global finance community. "Now we need to see today's commitment translate to changes in lending policies and greater access for nuclear to sustainable finance mechanisms. Nuclear offers investors long-term returns and a means of tackling the world's urgent and growing need for abundant, affordable, 24/7 clean energy."Today was a major step forward. Meeting the goal of tripling nuclear output will require the commitment and ingenuity of policy makers, financial leaders, the nuclear industry, and many others in a coalition of the ambitious." International banks express support for nuclear expansion
Amazon has announced it has taken a stake in advanced nuclear reactor developer X-energy, with the goal of deploying up to 5 GW of its small modular reactors in the USA by 2039.
Online shopping and web services giant Amazon's Climate Change Pledge Fund was described as the anchor investor in a USD500 million financing round for X-energy, alongside Ken Griffin, founder and CEO of Citadel, Ares Management Corporation, private equity firm NGP and University of Michigan.
The funding is designed to pave the way to completion of the reactor design and licensing, and the first phase of its TRISO-X fuel fabrication facility at Oak Ridge, Tennessee.
The first project
The first project looks set to be in Washington State, with Amazon announcing it had signed an agreement with Energy Northwest, a consortium of state public utilities, for an initial four advanced small modular reactors (SMRs) generating about 320 MWe, with an option to treble that number to 960 MWe, which would be the amount needed to power about 770,000 homes.
Amazon will fund the initial feasibility phase for the SMR project which is planned for a site near the energy company's Columbia Generating Station nuclear energy facility in Richland. Under the agreement Amazon would have the right to purchase electricity from the first phase, while Energy Northwest will have the option to build the eight extra modules, with the additional power being available to Amazon and utilities in the area.
Matt Garman, CEO of Amazon Web Services, said: "One of the fastest ways to address climate change is by transitioning our society to carbon-free energy sources, and nuclear energy is both carbon-free and able to scale - which is why it’s an important area of investment for Amazon. Our agreements will encourage the construction of new nuclear technologies that will generate energy for decades to come."
Greg Cullen, Vice President for Energy Services & Development at Energy Northwest, said: "We've been working for years to develop this project at the urging of our members, and have found that taking this first, bold step is difficult for utilities, especially those that provide electricity to ratepayers at the cost of production. We applaud Amazon for being willing to use their financial strength, need for power and know-how to lead the way to a reliable, carbon-free power future for the region."
The advanced reactors
The Xe-100 is a Generation IV advanced reactor design which X-energy says is based on decades of high temperature gas-cooled reactor operation, research, and development. Designed to operate as a standard 320 MWe four-pack power plant or scaled in units of 80 MWe. At 200 MWt of 565°C steam, the Xe-100 is also suitable for other power applications including mining and heavy industry. The Xe-100 uses tri-structural isotropic (TRISO) particle fuel, which has additional safety benefits because it can withstand very high temperatures without melting,
X-energy says its design makes it road-shippable with accelerated construction timelines and more predictable and manageable construction costs, and is well suited to meet the requirements of energy-intensive data centres.
Clay Sell, X-energy CEO, said: "Amazon and X-energy are poised to define the future of advanced nuclear energy in the commercial marketplace. To fully realise the opportunities available through artificial intelligence, we must bring clean, safe, and reliable electrons onto the grid with proven technologies that can scale and grow with demand. We deeply appreciate our earliest funders and collaborators, notably the US Department of Energy and Dow Inc. With Amazon, Ken Griffin, and our other strategic investors, we are now uniquely suited to deliver on this transformative vision for the future of energy and tech."
The initial Xe-100 plant is being developed at Dow Inc's UCC Seadrift Operations site on the Texas Gulf Coast, which would be the first nuclear reactor deployed to serve an industrial site in the USA.
What else has been announced?
A memorandum of understanding has also been signed with utility company Dominion Energy to look into the development of an SMR project near the company's existing North Anna nuclear power station. It is not the first move into nuclear energy from Amazon, which is co-locating a data centre facility next to Talen Energy's nuclear power plant in Pennsylvania.
Robert Blue, Chairman and CEO of Dominion Energy, said: "This agreement builds on our longstanding partnership with Amazon and other leading tech companies to accelerate the development of carbon-free power generation in Virginia. It's an important step forward in serving our customers' growing needs with reliable, affordable and increasingly clean energy. This collaboration gives us a potential path to advance SMRs with minimal rate impacts for our residential customers and substantially reduced development risk."
In July, Dominion Energy announced a Request for Proposals from leading SMR nuclear technology companies to evaluate the feasibility of developing an SMR at the company's North Anna plant - while it is not a commitment to build an SMR, it is an important first step in evaluating the technology and the feasibility of developing it at North Anna the company says.
Data centres and nuclear
Amazon's series of announcements confirms a recent trend of data centre operators looking at nuclear energy as a way to get reliable energy that is carbon free. Amazon noted that it is not just their data centres and web services which are going to see increasing electricity demand, but also wider developments such as electrifying its vehicle fleet.
On Tuesday, a fellow online giant, Google, signed a Master Plant Development Agreement with Kairos Power for the development and construction of a series of advanced reactor plants.And last month Microsoft announced it had signed a 20-year power purchase agreement with Constellation which would see Three Mile Island unit 1 restarted, five years after it was shut down. Amazon invests in X-energy, unveils SMR project plans
Mumbai, (IANS) Spain is a world leader in clean energy and our expertise can help India reach its goal of 500 gigawatts of renewable energy by 2030, Spanish President Pedro Sanchez said on Tuesday.
Addressing the 'CII Spain India Business Summit' in the financial capital, Sanchez said the potential for a stronger relationship between India and the European Union (including Spain) is enormous.
"One of the largest economies in the world, Spain has invested $4.2 billion in India this century. We look forward to advancing negotiations on a European Union-India free trade agreement. This will help our markets grow in size and diversity," he told the gathering, adding that "our expertise can help India reach its goal of 500 gigawatts of renewable energy by 2030".
Stressing that the country is committed to partnering with India to boost its energy security and green transition, Sanchez said by combining Spanish innovation with India's potential, “we can make a big impact on the global economy and the environment”.
Spain's advanced railway systems, subway networks, and transport solutions can greatly benefit India's infrastructure projects, he added.
On Monday, both countries signed a Memorandum of Understanding (MoU) on cooperation in the field of rail transport that is expected to boost collaboration in the planning, deployment, operation and maintenance of high-speed and conventional railways.
Praising the huge strides made by India in the infrastructure sector, the Spanish President said their advanced railway systems, subway networks, and transport solutions can greatly benefit India's infrastructure projects.
Union Minister of Road Transport and Highways Nitin Gadkari said that Prime Minister Narendra Modi's dream is to make India carbon neutral by 2070.
"Whether it's fossil fuel or energy, green energy and green mobility are now priorities. There is great potential for wind and solar power. I am pleased that many technologies are available in Spain that have great potential in India. Joint ventures can reduce costs and increase competitiveness in the global market," the minister told the gathering at the event.
Sanchez is the first Spanish President to undertake an official trip to India in the last 18 years.
Chandrajit Banerjee, Director General, CII said Spain is very experienced in urban infrastructure, high-speed rail networks, transport systems, and smart mobility.
"We look forward to new partnerships with Spain to boost our infrastructure development. We've also discussed collaboration opportunities in artificial intelligence, defence, and green technologies. Both countries are committed to joint ventures and co-development in defence to enhance capabilities and strategic autonomy," he mentioned.
The Financing the Tripling of Nuclear Energy event (Image: Hechler Photographers)
A group of 14 global financial institutions have expressed their support for the call to action to triple nuclear energy capacity by 2050
Last December, the United Nations Climate Change Conference (COP28) in Dubai saw the 198 signatory countries to the UN Framework Convention on Climate Change call for accelerating the deployment of low-emission energy technologies including nuclear power for deep and rapid decarbonisation, particularly in hard-to-abate sectors such as industry. In addition, 25 countries at COP28 pledged to work towards tripling global nuclear power capacity to reach net-zero by 2050.
At New York Climate Week, a group of 14 financial institutions on Monday stated their recognition that global civil nuclear energy projects have an important role to play in the transition to a low-carbon economy. They further expressed support for long-term objectives of growing nuclear power generation and expanding the broader nuclear industry to accelerate the generation of clean electrons to support the energy transition.
The institutions include: 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.
"Capital markets and financing can play a critical role in developing and growing nuclear energy projects worldwide. Financial institutions can provide experience, global presence, services and solutions to support the industry," according to World Nuclear Association.
Opening the event, John Podesta, Senior Advisor for International Climate Policy to President Biden, said: "Our collective mission is clear - nuclear energy is clean energy, and if we are to ensure a liveable planet, build secure, sustainable supply chains for clean energy and bolster prosperity around the world, we need to make sure that nuclear energy does its part. I know we can make it happen - as long as we work together."
Slovenian Prime Minister Robert Golob added, "The only riddle left to solve is the financial side, the financial costs. Financial markets need to adapt and develop new financial instruments in order for nuclear energy to become competitive with other CO2-free energy sources."
"It is time to take concrete action towards necessary expansion of nuclear energy," said Sweden's Minister for Energy, Business and Industry and Deputy Prime Minister Ebba Busch. "The Swedish government is exploring a proposed financing model which includes government-backed loans, contracts-for-difference (CfDs) and risk-sharing mechanisms. The aim of the proposal is to significantly improve the conditions for nuclear new build in Sweden and with it, a more sustainable future."
Last month, a Swedish government study proposed that state aid be given to companies for investments in new nuclear power following an application procedure. It said a new legislative act should regulate conditions for receiving the support, the support measures, and what an application must contain.
James Schaefer, senior managing director of Guggenheim Securities, said: "New nuclear power is both clean and safe, and more importantly proven, with a number of nations now operating highly advanced and commercially viable third and fourth-generation fission technologies. It is essential that we accelerate the progression of planned projects into plants on the ground given the huge demand coming down the line for data centres and AI technologies. This will require nuclear companies, plant owners, data centre and technology companies, together with banks and financial institutions to collaborate closely."
"Including nuclear energy as a zero-carbon technology alongside renewables is essential to meeting the world's carbon reduction goals and ensuring that heavy industrial manufacturers like Nucor have a reliable and clean electricity supply to continue growing, prospering, and providing high-paying jobs," said Benjamin Pickett, vice president and general manager of public affairs and government relations at Nucor Corporation.
"Since COP28 in Dubai last year, we have witnessed a step change in momentum across the nuclear sector, buoyed by a significant increase in demand for clean electrons for data centres and AI, with global power demand for this sector alone set to double by 2026," said Mohamed Al Hammadi, Managing Director and CEO of the Emirates Nuclear Energy Corporation and chairman of World Nuclear Association.
"With the support of 14 global banks and financial institutions witnessed this morning on the sidelines of New York Climate Week, it is clear that not only is nuclear energy viewed as a crucial enabler to decarbonise the power sector, but it also fits the profile for sustainable and transition financing, especially as we now see multiple nuclear plants being delivered efficiently, providing confidence to the market and a clear market signal that nuclear is a proven, bankable route to energy security and net zero in parallel."
Last week, ten industry associations issued a communiqué during the second Roadmaps to New Nuclear conference in Paris, organised by the OECD Nuclear Energy Agency. They called on all OECD member states to set out clear plans for nuclear energy deployment. Among the eight key areas highlighted by the associations were: ensuring ready access to national and international climate finance mechanisms for nuclear development; ensuring that multilateral financial institutions include nuclear energy in their investment portfolios; and providing clarity to investors on the funding and investment recovery mechanisms available for nuclear projects and including nuclear energy in clean energy financing mechanisms.
Sama Bilbao y León, Director General of World Nuclear Association, welcomed Monday's announcement from leaders in the global finance community. "Now we need to see today's commitment translate to changes in lending policies and greater access for nuclear to sustainable finance mechanisms. Nuclear offers investors long-term returns and a means of tackling the world's urgent and growing need for abundant, affordable, 24/7 clean energy."Today was a major step forward. Meeting the goal of tripling nuclear output will require the commitment and ingenuity of policy makers, financial leaders, the nuclear industry, and many others in a coalition of the ambitious." International banks express support for nuclear expansion
Representatives from NTPC and NPCIL mark the formation of the Ashvini joint venture (Image: NTPC))
The Indian government has approved the creation of a joint venture between Nuclear Power Corporation of India Limited and National Thermal Power Corporation to construct, own and operate nuclear power plants in India.
Under Indian legislation, only two companies - Nuclear Power Corporation of India Ltd (NPCIL) and Bharatiya Nabhikiya Vidyut Nigam Limited (Bhavini, set up to build and operate fast reactors) - are legally allowed to own and operate nuclear power plants in India, but a 2016 amendment to the 1962 Atomic Energy Act allows public sector joint ventures.
State-owned National Thermal Power Corporation (NTPC) agreed with NPCIL to form a joint venture for nuclear power plant construction as long ago as 2011, and last year signed a supplementary joint venture agreement for the development of six 700 MWe Indian-designed pressurised heavy water reactors (PHWRs), including the four earmarked for construction at Mahi Banswara in the state of Rajasthan. These units are amongst a list of ten PHWRs already accorded administrative approval and financial sanction to be built in "fleet mode".
On 11 September, the government approved the formation of Anushakti Vidhyut Nigam Ltd (Ashvini), a joint venture between NPCIL (51%) and NTPC Ltd (49%). The companies were informed of that decision on 17 September.
In addition, the government has approved the transfer of the project to build four 700 MWe PHWRs at Mahi Banswara from NPCIL to Ashvini.
NTPC said that, in addition to the Mahi Banswara project, "Ashvini shall also pursue other nuclear power projects in different parts of the country".
The government also approved exemption to NPCIL to invest more than INR5 billion (USD59.7 million) and exemption to NTPC to invest more than INR50 billion in a single joint venture or subsidiary company.
"This will enable adequate financing for accelerated nuclear power capacity addition in India," the two companies said.
Welcoming approval for the joint venture, NPCIL and NTPC said: "This will pave the way for pooling of resources from both NTPC and NPCIL, in terms of finances, technology and project expertise, for the rapid expansion of nuclear power productivity in the country to meet the target of net-zero by 2070."
Last month, NTPC - India's largest power company - confirmed it intends to set up a 100% nuclear power subsidiary, called NTPC Nuclear Power Company, with NTPC Chairman and Managing Director Gurdeep Singh saying the utility sees nuclear capacity - including small modular reactors - as central to its plans. Singh said the company is actively looking for locations for nuclear power plants, including in Gujarat, Tamil Nadu, Chhattisgarh, Odisha and Karnataka.
According to a Reuters report in February, government sources said India was planning to invite private firms to invest some USD26 billion in its nuclear energy sector, and is in talks with "at least" five private firms including Reliance Industries, Tata Power, Adani Power and Vedanta Ltd to invest around INR440 billion (USD5.30 billion) each.
Plans are not yet finalised, but the government hopes to use the investments to build 11,000 MWe of new nuclear capacity by 2040, the sources said. The plants would be built and operated by NPCIL, with the investing companies earning revenue from electricity sales from the plants. This hybrid plan would not require any amendment to India's Atomic Energy Act of 1962 - which prohibits private control of nuclear power generation - but would need to be approved by the Department of Atomic Energy, they said.As well as further 700 MWe PHWRs, Indian plans envisage the construction of large reactors from overseas vendors, including further Russian-designed VVER reactors in addition to those already in operation and under construction at Kudankulam in Tamil Nadu. In August 2023, Minister of State Jitendra Singh also told the country's parliament that the government was considering options for small modular reactors, and looking at ways to allow the participation of the private sector and start-ups in such projects. Indian nuclear joint venture gets go-ahead
Even after decades encouraging the growth of renewables, we’re still too reliant on coal and gas power stations.
The problem isn’t in our ability to generate clean power. It’s what happens after that. Major roadblocks include the need for 10,000 kilometres of new transmission lines to connect rural renewable farms with city consumers. Another oft-cited reason is the need to store power from renewables so it can be drawn on as needed. This is why the Australian Energy Market Operator sees such a big role for large-scale storage coupled with some flexible gas as a backup.
Last year, renewable investment actually shrank in Australia. Reasons for the slowdown are wide-ranging. Some are local, such as rural communities lobbying against new transmission lines, the need for planning and environmental approvals and the slow pace of creating new regulations. Others are global, such as increased competition for engineers and electricians, clean tech and raw materials.
As climate change worsens, frustration about the slow pace of change will intensify. But when we look around the world, we see similar challenges cropping up in many countries.
What’s in it for locals? Securing a social license for transmission lines is shaping up as a major source of delay in Australia’s energy transition. David L Young/Shutterstock
European Union
Transmission line hold-ups are by no means a delay unique to Australia. Data from the International Energy Agency shows building new electricity grid assets takes ten years on average in both Europe and the United States.
In 2022, the European Union introduced laws expressly aimed at speeding up the clean energy transition by fast-tracking permits for renewables, grid investment and storage assets. These investments, the laws state, are:
presumed as being in the overriding public interest […] when balancing legal interests in the individual case.
That is, when the interests of other stakeholders – including local communities and the environment – clash with clean energy plans, clean energy has priority.
Germany has gone further still with domestic laws designed to further streamline planning and approvals and favour energy transition projects over competing interests. These changes were sweetened with financial incentives for communities participating in clean energy projects.
This is a risky path. European leaders have chosen to go faster in weaning off fossil fuels at the risk of inflaming local communities. The size of the backlash became clear in the EU’s elections in June, where populists gained seats and environmental parties lost.
United States
In 2022, the US government passed a huge piece of green legislation known as the Inflation Reduction Act. Rather than introducing further regulations, the US has gone for a green stimulus, offering A$600 billion in grants and tax credits for companies investing in green manufacturing, electric vehicles, storage and so on. To date, this approach has been very effective. But money isn’t everything – new transmission lines will be essential, which means approvals, planning, securing the land corridor and so on.
This year, the US Energy Department released new rules bundling all federal approvals into one program in a bid to accelerate the building of transmission lines across state borders.
Australia could borrow from this. The government’s Future Made in Australia policy package takes its cues from US green stimulus, but at smaller scale. What America’s example shows us is these incentives work – especially when big.
US-style streamlining and bundling of approvals could address delays from overlapping state and federal approvals. Supporting local green manufacturing can create jobs, which in turn encourages community buy-in.
China
Even as Australia’s clean energy push hit the doldrums and emission levels stagnated, China’s staggering clean energy push began bearing fruit. Emissions in the world’s largest emitter began to fall, five years ahead of the government’s own target.
They did this by covering deserts with solar panels, building enormous offshore wind farms, rolling out fast rail, building hydroelectricity, and taking up electric vehicles very rapidly. In 2012, China had 3.4 gigawatts of solar and 61 GW of wind capacity. In 2023, it had 610 GW of solar and 441 GW of wind. It’s also cornered the market in renewable technologies and moving strongly into electric vehicles.
Of course, China’s government has far fewer checks and balances and exerts tight control over communities and media. We don’t often see what costs are paid by communities.
China has also used industrial policy cleverly, with government and industries acting in partnership. In fact, the green push in the US, EU, Australia and other Western jurisdictions takes cues from China’s approach.
There’s still a long road ahead for China. But given its reliance on energy-intensive manufacturing, it’s remarkable China’s leaders have managed to halt the constant increase in emissions.
China has rolled out renewables at a staggering rate – enough to stop emissions increasing. Jenson/Shutterstock
Acceleration has a cost
These examples show how it is possible to accelerate the energy transition. But often, it comes at a cost.
Costs can be monetary, such as when governments direct funding to green stimulus over other areas. But it can also be social, if the transition comes at the cost of community support or the health of the local environment.
This comes with the territory. Big infrastructure projects benefit many but disadvantage some.
While Australian governments could place climate action above all else as the EU is doing, they would risk community and political blowback. Long-term progress means doing the work to secure local support.
For instance, Victoria’s new Transmission Investment Framework brings communities to the fore, focusing on their role and what they will stand to gain early on.
Yes, this approach may slow the rate at which wind turbines go up and solar is laid down. But it may ensure public support over the long term.
No one said the shift to green energy would be easy. Only that it is necessary, worthwhile – and possible.
MELBOURNE - Australia on Wednesday approved plans for a massive solar and battery farm that would export energy to Singapore, a project dubbed the "largest solar precinct in the world".
Authorities announced environmental approvals for the US$24-billion SunCable project in Australia's remote north that is slated to power three million homes.
The project, which will include an array of panels, batteries and, eventually, a cable linking Australia with Singapore, is backed by tech billionaire and green activist Mike Cannon-Brookes.
"It will be the largest solar precinct in the world –- and heralds Australia as the world leader in green energy," said Environment Minister Tanya Plibersek.
It is hoped that energy production will begin in 2030.
The 12,000-hectare project will provide four gigawatts of energy per hour for domestic use. Two more gigawatts sent to Singapore via undersea cable will supply about 15 percent of the city-state's needs.
Batteries would be able to store about 40 gigawatts
SunCable Australia's managing director Cameron Garnsworthy said the approval was "a landmark moment in the project's journey".
Despite Wednesday's green light, numerous approval processes remain -- including working with Singapore's energy market authority, Indonesia's government and Australian Indigenous communities.
"SunCable will now focus its efforts on the next stage of planning to advance the project towards a final investment decision targeted by 2027," said Cannon-Brookes.
- 'Clean energy powerhouse' -
Australia is currently one of the world's leading exporters of coal and gas, but has also been ravaged by the effects of climate change -- from intense heat to floods and bushfires.
Although Australians are among the world's most enthusiastic adopters of household solar panels, a string of governments have been slow to fully embrace renewables.
In 2022, renewables made up 32 percent of Australia's total electricity generation -- compared to coal, which contributed 47 percent, according to the latest government data.
Climate Council chief executive officer Amanda McKenzie said the new solar hub was a bold step in making Australia a "clean energy powerhouse" and that such projects were essential in "delivering affordable energy and slashing climate pollution".
"With the closure of coal-fired power stations on the horizon, Australia needs to accelerate the roll-out of solar and storage at every level—rooftops, large-scale projects, and everything in between," she said.
The project would also be a significant step for Cannon-Brookes', who has expanded his portfolio from software company Atlassian -- which he co-founded -- to the renewable energy space, including being the latest shareholder in AGL Energy. Source: https://www.enca.com/opinion/australia-approves-worlds-largest-solar-hub
The main decline at the Tony M mine in Utah was successfully reopened on 26 July, and work has begun to rehabilitate the underground workings.
The IsoEnergy team and Garfield County representatives in front of the main portal at Tony M (Image: CNW Group/IsoEnergy Ltd)
Initial observations of underground conditions indicate that the main decline and underground equipment shops are in good condition, IsoEnergy Ltd said. Rehabilitation of the underground, including scaling, installation of ground support and ventilation systems, is expected to take 8 to 10 weeks depending on the ground conditions encountered.
The underground rehabilitation work is being carried out by Tomcat Mining. IsoEnergy is also working with international mining consulting firms SRK Consulting Ltd, on the design and implementation of the ventilation plans, and Call & Nicholas Inc, on the design and implementation of the ground control plans.
As sections of the underground are made safe for entry, it is expected that exploration and geological work will begin to map out the orebody from underground. IsoEnergy is also in the process of contracting a surveying company to complete a LiDAR survey of the complete underground at Tony M. This will be the first time any such survey has been completed at the mine and will be an important tool in future mine planning.
The Saskatoon-based company has been working towards reopening the Tony M underground for access over the course of the last year. Site communications have been re-established, and electrical systems have been upgraded and refurbished where necessary, including the installation of "at least" one new generator meeting the US Environmental Protection Agency's Tier 4 emission standards, it said. Several new fans have been installed and will continue to be installed as part of the rehabilitation, and several existing fans are to be refurbished.
The company announced last February its strategic decision to reopen the past-producing mine during the first half of this year, with the aim of restarting uranium production operations in 2025, depending on market conditions. Energy Fuels Inc's White Mesa - the only currently operational conventional uranium mill in the USA - is within trucking distance to Tony M, and IsoEnergy has a toll-milling agreement which guarantees it access to the mill's capacity.
Garfield County Commissioner Jerry Taylor and IsoEnergy COO Marty Tunney underground at Tony M (Image: CNW Group/IsoEnergy Ltd)
IsoEnergy CEO and Director Philip Williams said: "The reopening of underground at Tony M is an important step in restarting production and establishing IsoEnergy as a near-term uranium producer. Long-term uranium prices have nearly doubled, from USD41/lb U3O8 to USD79/lb U3O8, since we acquired the Tony M, Daneros and Rim Mines in Utah, and with the exceedingly positive global outlook for nuclear power we expect that trend to continue. We believe that proven producing assets in tier one jurisdictions, like Tony M, will be highly coveted by end users making this an ideal time to pursue a restart."
The fully-permitted mine is in Garfield County and is about 66 miles (107 km) from the town of Blanding. It produced nearly one million pounds of U3O8 during two different periods of operation from 1979-1984 and from 2007-2008. It was acquired by IsoEnergy on the company's share-for-share merger with Consolidated Uranium Inc, completed last December. Tony M's current NI 43-101 estimated resources stand at 6.606 million pounds U3O8 (2541 tU) of indicated resources and 2.218 million pounds U3O8 in the inferred resources category.
The benefits of the scheme are called 'monumental' (Image: Archara Phattanasub/TINT/IAEA)
Canadian Nuclear Laboratories (CNL) has received shipments of disused radium-226 sources from the Thailand Institute of Nuclear Technology, which will be recycled to produce actinium-225 to be used in targeted radiotherapy.
The arrangement is part of the International Atomic Energy Agency's (IAEA's) Global Radium-226 Management Initiative, which aims to connect countries who have old radiotherapy sources with other countries interested in recycling or reusing them.
According to the IAEA: "Radium-226, discovered in 1898 by Marie Sklodowska-Curie and Pierre Curie, was formerly used in radiotherapy but has since been replaced by other sources. Today, it serves as a feedstock for the production of the radioisotope actinium-225, which is so rare that annual global production is less than a grain of sand. Actinium-225 is an alpha-emitting source known to be effective in destroying malignant cells in targeted cancer treatments. It allows for targeted radiotherapy as it can be placed close to the tumour and will kill cancerous cells without damaging nearby healthy tissue."
Thailand Institute of Nuclear Technology and CNL have been in contact via the scheme since 2022 and over the past year 70 packages of disused radium-226 have been sent to Canada. The institute's Archara Phattanasub, Head of the Radioactive Waste Technology and Development Section, said: "Recycling these sources has multiple benefits for Thailand and is in line with circular economy objectives. This initiative has helped up significantly reduce the risk for any type of incident associated with these disused sources and freed up a lot of space in our national storage facility."
Jack Craig, President and CEO of CNL, said: "The IAEA has long championed the safe storage and disposal of disused sealed radioactive sources, which has always been appreciated and supported by Canada. However, their initiatives to assist donor nations in removing long-term liabilities while enabling a new radiotherapeutics industry is monumental."
Olena Mykolaichuk, the Director of the IAEA’s Division of Nuclear Fuel Cycle and Waste Technology, said the collaboration "serves as a great example of how to effectively conduct complex source transportation operations with many moving parts ... fostering sustainable practices is a key element of the IAEA’s mandate, and we look forward to delivering on this initiative for many years to come."
When I get out of the car, of course I’m thinking as well, ‘is this something that we should do, travel the world, wasting resources?‘
In the pursuit of speed and sustainability, F1 teams committed in 2019 to achieving a net zero emissions goal by 2030.
As part of this goal, every team has expressed their intention to use 100% renewable fuel by 2026. F1 has also just announced it will mandate hybrid engines with a 50-50 split between electric and combustion power.
However, it is crucial to consider whether these promises to go greener are achievable or if this commitment is just an attempt to greenwash the sport.
Formula One is trying to make the sport more environmentally responsible.
Just how big is F1’s environmental footprint?
According to a report from F1, the sport releases around 256,000 tons of carbon dioxide into the atmosphere every season.
While cars are often the focus, in reality, the behind-the-scenes activities have a larger environmental impact, as a Grand Prix event involves much more than just the cars on the track.
This includes everything from the transportation of teams and equipment to various international venues, to the energy used in setting up and operating the event and waste management.
A Grand Prix event features ten teams, each operating two cars, which results in a total of 20 cars in each race.
The foremost priorities of hybrid engines in Formula One are efficiency and environmental sustainability.
They integrate an internal combustion engine, batteries and an energy recovery system.
Compared to conventional internal combustion engines, the inclusion of batteries allows F1 cars to deliver rapid power more efficiently. The instantaneous torque provided by electric power significantly enhances acceleration out of corners, contributing to overall performance improvements.
Hybrid engines also reduce fuel consumption compared to traditional engines.
The hybrid system includes the Motor Generator Unit-Kinetic (MGU-K) and the Motor Generator Unit-Heat (MGU-H). The MGU-K converts kinetic energy from braking into electrical energy and stored in the battery, which boosts acceleration and speed. The MGU-H uses heat energy from exhaust gases to increase engine power.
This configuration not only conserves fuel but also maximises energy use, thereby reducing carbon emissions and enhancing environmental sustainability.
Will these changes reduce the sport’s environmental impact?
To reduce the environmental impact of F1 cars, fuel plays a major role. F1 started with 10% sustainable fuel (“E10”) – a blend of 10% renewable ethanol and 90% fossil fuel.
From 2026, they are determined to shift from 10% to 100% renewable fuel, which is synthesised by municipal waste or non-food biomass.
However, renewable fuels still produce carbon emissions – burning renewable fuel does release carbon dioxide but the emissions are offset by the carbon dioxide absorbed from the atmosphere during the fuel’s production, rendering it carbon neutral overall.
While the hybrid system will remain in place in 2026, given the complexities and cap on engine-specific costs, modern F1 cars will scrap the MGU-H and solely rely on the MGU-K.
Moreover, F1 is committed to increasing the energy efficiency of MGU-K to harvest more braking energy. Consequently, it aims to increase power output of MGU-K from 120kW to 350kW by 2026, nearly tripling it.
As for its broader carbon footprint, F1 has also pledged to incorporate re-purposing and recycling options for race weekend materials, batteries, and MGU-K. This will help minimise waste and the sport’s carbon footprint.
Because the carbon footprint of F1 cars is relatively small, the sport should focus its efforts on reducing emissions in transportation, logistics and fan activities.
Likewise, hosting Grand Prix races in various countries across different continents requires extensive logistical arrangements and travel. For instance, the F1 racing series in 2023 visited 20 countries across five continents, resulting in significant carbon emissions.
Consequently, F1 should consider hosting races within a single country or at least within a single continent.
Can F1 cars go fully electric?
For the sustainability of the sport, a transition to 100% electric cars is likely in the future. This transition can benefit from the experiences gained with Formula E, which employs fully electric vehicles.
However, several factors must be considered before fully electrifying F1 cars, including regulation changes, battery weight, battery safety and charging infrastructure.
The US Department of Energy (DoE) is to help push forward the manufacture of small modular nuclear reactors through new cost-sharing arrangements with private industry to support design and licensing activities.
Cutaway of NuScale's containment vessel and integrated reactor system (Image: NuScale Power)
The DoE intends ultimately to fund up to two designs for small modular reactors (SMRs) through a cost-shared partnership which will support first-of-a-kind engineering, design certification and licensing. To that end, it has issued a draft Funding Opportunity Announcement (FOA) to solicit inputs from industry in advance of the full FOA, aiming at a deployment date for the reactors of 2022.
Small, compact reactors of around 300 MWe in capacity - around a third of the size of a typical commercial nuclear power plant - can potentially offer a range of strengths in terms of safety, construction and siting as well as potential economic benefits. Their modular 'plug and play' nature means that they could be made in factories and transported to generation sites, offering economies of scale and reducing both capital costs and construction times. Their small size makes them suitable for small electric grids and locations that cannot support large reactors, while offering the flexibility to install units individually or as modules in a larger generating complex, adding more modules incrementally as required. As well as using a simpler reactor design, SMRs can incorporate a high level of passive or inherent safety in the event of malfunction.
US Energy Secretary Steven Chu described the funding as a "significant step" in designing, manufacturing, and exporting small modular reactors.
"America's choice is clear - we can either develop the next generation of clean energy technologies, which will help create thousands of new jobs and export opportunities here in America, or we can wait for other countries to take the lead." Steven Chu: US Energy Secretary
Several US companies are involved in the design of SMRs, with development at various stages of advancement. Westinghouse, which is developing its own 200 MWe SMR, has already pledged to take advantage of the DoE's offer. Westinghouse chief technology officer and senior vice president of research and technology Kate Jackson said the company would be applying for the federal funds with a consortium of utilities. "Access to this investment fund helps lower the barrier to market entry for American companies," she said, noting that "virtually all energy sources that feed the national grid" had been developed through public-private research and development partnerships. Indeed, the design certification by the US Nuclear Regulatory Commission of Westinghouse's AP1000 nuclear reactor design, granted in December 2011, was supported through a cost-shared agreement with DoE.
Other US SMR designs at an advanced stage of development include NuScale Power Inc's 45 MWe NuScale reactor, which is envisaged as being clustered in modules of 12 to form a power plant of around 540 MWe, and Babcock & Wilcox's 160 MWe mPower. The NRC is currently involved in pre-application activities on both designs in anticipation of a design certification application for the NuScale reactor in the first months of 2012, followed by one for the mPower design towards the end of 2013.
An illustration of Varanto’s seasonal energy storage facility – credit, Varanto Energy, released
Heat stored underground in caverns can be set aside in Finland’s summer months to be re-used during frigid winters thanks to a state-of-the-art ‘seasonal energy’ storage facility.
Slated for construction this summer near Helsinki, it will be the largest in the world by all standards and contain enough thermal energy to heat a medium-sized city all winter.
Thermal exchange heating systems, like those built underground, or domestic heat pumps, are seen as the most effective way available of reducing the climate-impact of home heating and cooling.
Their function relies on natural forces or energy recycling to cool down or heat up water and then using it to radiate hot or cold energy into a dwelling.
In Vantaa, Finland’s fourth largest city neighboring the capital of Helsinki, the ambitious Varanto seasonal energy storage project plans to store cheap and environmental friendly waste heat from datacenters, cooling processes, and waste-to-energy assets in underground caverns where it can be used to heat buildings via the district heating network whenever it is needed.
In Finland and other Nordic countries, the heat consumption varies significantly between seasons. Heat consumption in the summertime is only about one-tenth of the peak load consumption during the cold winter months.
Varanto will utilize underground caverns equal in space to two Maddison Square Gardens—over a million cubic meters—filled with water heated by this waste heat and pressure that will allow the water to reach temperatures of up to 300 degrees Fahrenheit without the water boiling or evaporating.
“The world is undergoing a huge energy transition. Wind and solar power have become vital technologies in the transition from fossil fuels to clean energy,” says Vantaa Energy CEO Jukka Toivonen.
“The biggest challenge of the energy transition so far has been the inability to store these intermittent forms of energy for later use. Unfortunately, small-scale storage solutions, such as batteries or accumulators, are not sufficient; large, industrial-scale storage solutions are needed. Varanto is an excellent example of this, and we are happy to set an example for the rest of the world.”
The total thermal capacity of the fully charged seasonal thermal energy storage is 90 gigawatt-hours. This capacity could heat a medium-sized Finnish city for as long as a year. Broken down into smaller energy units, this amount of energy is equivalent to 1.3 million electric car batteries.
“Two 60-MW electric boilers will be built in conjunction with Varanto,” adds Toivonen. “These boilers will be used to produce heat from renewable electricity when electricity is abundant and cheap. Our heat-producing system will work like a hybrid car: alternating between electricity and other forms of production, depending on what is most advantageous and efficient at the time.”
The project cost is estimated to be around $217 million (€200 million,) and it has already been awarded a €19-million investment grant from Finland’s Ministry of Economic Affairs and Employment. Construction of the storage facility’s entrance is expected to start in summer 2024, while it could be operational as early as 2028.
District heating is by far the most popular form of heating for buildings and homes in Finland.
In district heating networks, the thermal energy produced in production plants is transmitted to customers as hot water in a closed, two-pipe system. In these pipelines, the hot water flows to the buildings, and the water that has released its heat flows back to the production plant for reheating. The heat is always transferred to the building via heat exchangers, so the district heating water itself does not circulate in the heating networks of the buildings.
There are more than 600 kilometers of underground district heating networks in Vantaa, and around 90% of Vantaa residents live in a home heated by district heating.
The site is home to two 700 MWe PHWRs (Image: screengrab from NPCIL video)
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