Building a nuclear power plant is a difficult job. It takes years of planning and sometimes more than a decade to complete. The risk of schedule delays is great, especially on first-of-a-kind projects, and the financial implications of such setbacks can ruin a company. Yet, the Tennessee Valley Authority’s (TVA’s) president and CEO, Jeff Lyash, …
NuScale Power has signed a memorandum of understanding (MoU) with North American steel manufacturer Nucor Corporation to explore the deployment of NuScale’s VOYGR small modular nuclear reactor (SMR) power plants at Nucor’s scrap-based Electric Arc Furnace (EAF) steel mills. As part of the MoU, the companies will evaluate site suitability, transmission interconnection capabilities and capital …
The sale of a stake in a massive new uranium mine to Russia prompted an exodus of senior managers at Kazakhstan’s state-run miner. The deal for part of the Budenovskoye mine, projected to become the world’s biggest source of the radioactive metal, to Russia’s nuclear power monopoly, Rosatom, went through at the end of last …
Momentum grows for banning Russian imports of uranium used in nuclear fuel Legislation to ban Russian uranium imports is gaining momentum on Capitol Hill, as lawmakers look to further punish Moscow for invading Ukraine. Yet the United States remains heavily reliant on Russia for uranium, the main fuel used by nuclear power plants – yet …
U.S. Energy Secretary Jennifer Granholm said she is “hopeful” about pending loan applications to fund the restart of the closed Palisades nuclear plant in Michigan. If approved, the approximately $1 billion in federal loans could help pay for the power plant to become the first U.S. nuclear reactor to restart after powering down. Lawmakers …
Nuclear Energy Institute (NEI) President and CEO Maria Korsnick gave the organization’s annual “State of the Nuclear Energy Industry Address” on May 15, 2023. Courtesy: NEI “Everywhere we look, we’re seeing demand surging,” Maria Korsnick, president and CEO of the Nuclear Energy Institute (NEI), said. “When we talk about demand for nuclear, we’re talking about …
The start of a much-delayed nuclear plant in Finland has helped bring down electricity prices by more than 75 per cent in the Nordic country. The Olkiluoto 3 (OL3), Europe’s first new nuclear plant in 16 years, began operating in April and is capable of meeting up to 15 per cent of the country’s power demand. Nuclear made …
The reactor pressure vessel (RPV) for unit 3 at the Xudabao nuclear power plant in China’s Liaoning province has successfully completed hydrostatic testing in Russia. The two VVER-1200 reactors that form phase two of the plant – units 3 and 4 – are scheduled to be commissioned in 2027-2028. The hydrostatic test is a comprehensive …
Already home to groundbreaking innovation, the site at Canadian Nuclear Laboratories (CNL) in Chalk River, Ont. was announced Thursday as the site for the world’s first micro-modular reactor. Developed by Global First Power (GFP), the micro-modular reactor is a nuclear-based power source touted as the future of green energy. “One of these reactors that can …
The world’s second-biggest producer of enriched uranium, the key element used to fuel nuclear reactors, said orders are surging following Russia’s invasion of Ukraine and renewed interest in atomic energy as a solution to climate change. Urenco Ltd.’s long-term orders rose more than 10% over the past three months, extending last year’s 24% jump, Chief …