To deliver the UK’s new reactors EdF and Areva, which are both owned by the French government, must find new ways to work together. The road to success is full of potholes, however, caused by confusion at the highest levels of France’s government on how this is supposed to take place. Areva is seen by its own government and by investors as being undercapitalized for the projects ahead and overcommitted financially for reactor projects that are way behind schedule in France and Finland. In late 2010, Areva raised $900 million in new capital from government sources as part of a projected need for new capital of $4 billion. At the same time, the French government is still dithering over whether or not to list yet more of Areva’s shares for acquisition by non-governmental investors. Opening state-owned firms to investor equity shares and the demands for profitable results rubs socialists the wrong way. It is likely that the government will intervene in the future, and possibly against Areva’s interests relative to building market share, due to political considerations. For instance, Siemens, which makes giant turbines needed by nuclear power stations, owns a 34-percent stake in Areva as a result of French-German relations. Siemens now wants to have its shares bought out, at the expense of Areva’s capital requirements, so it can fund a competing reactor venture with Rosatom, Russia’s nuclear energy export firm. The cost of the buy out could be in the range of $2.5 billion.
The Energy Collective 3rd Feb 2011 more >>
Chris Huhne visiting Hinkley.
You Tube 24th Jan 2011 more >>
Scotland could take the lead in a green revolution that will see all of the world’s energy needs met by renewable sources by 2050, a new report has claimed. The WWF’s Energy Report, which has taken two years to complete and is published on Thursday, states that Scotland could benefit economically if it takes an early lead in the renewables sector. First Minister Alex Salmond has already said around £30bn could be invested in Scotland creating thousands of jobs as companies seek to exploit Scotland’s natural resources for wind and wave power.
Dundee Courier 3rd Feb 2011 more >>
A lightning strike caused temporary damage to the Dounreay nuclear site in Caithness, it has emerged. No-one was hurt, but a number of electronic systems for carrying out measurements and monitoring were affected and had to be repaired. Lightning hit scaffolding in the fuel cycle area, a high security zone with facilities once used to handle and store nuclear material and waste. The incident came during an electrical storm on 15 January.
BBC 3rd Feb 2011 more >>
The US Nuclear Regulatory Commission (NRC) said the decision by the commission for Westinghouse Electric’s request to amend the NRC design certification for its AP1000 design is expected in late summer or early fall.
Energy Business Review 3rd Feb 2011 more >>
Green Investment Bank
The Green Infrastructure Bank will seek to lend to energy projects when it is first set up, but it remains undecided whether nuclear projects will fall under the bank’s remit, business secretary Vince Cable said yesterday.
New Civil Engineer 3rd Feb 2011 more >>
A joint venture company forged by PDX in Huntingdon and the UK’s National Nuclear Laboratory (NNL) is now fully operational. The JV partners have created NDX Solutions Limited of which PDX owns 60 per cent and NNl the other 40 per cent. The venture has has been formed to develop, produce and market products for the global nuclear market.The UK decommissioning industry has shown strong interest and enthusiasm for NDX Solutions’ products and its ability to provide unique and cost-effective decommissioning technology and both PDX and NNL have been actively marketing NDX Solutions’ products to industry customers.
Business Weekly 3rd Feb 2011 more >>
Money AM 3rd Feb 2011 more >>
Residents living near a handful of Germany’s nuclear plants, along with environmental group Greenpeace, have filed a case with the constitutional court over a new law extending the lifespan of the nuclear plants.
Deutsche Welle 3rd Feb 2011 more >>
Iran could realistically develop a nuclear weapon within a year, a leading think-tank has said.
Metro 4th Feb 2011 more >>
Telegraph 4th Feb 2011 more >>
The Minnesota Senate has voted to lift a moratorium on the construction of new nuclear plants in the state. A bill seeking to lift a similar ban in the state of Kentucky is making its way to that state’s Senate.
World Nuclear News 3rd Feb 2011 more >>
US plans for a missile defence system on Czech soil ran into trouble when defence chiefs realised the proposed radar was blind to nuclear missiles, leaked diplomatic cables show.
Telegraph 4th Feb 2011 more >>
Harwich, Humber and Tyneside are battling it out to host one of Britain’s first offshore wind turbine factories, to be built by the Spanish group Gamesa. As part of Gamesa’s €150m (£127m) investment programme to establish a global offshore wind turbine business, headquartered in London, the company is already building a €50m, 150-engineer research centre in Glasgow, and a manufacturing facility in Dundee contingent on winning a supply contract in Scotland. The Spanish group is now in the final stages of fixing the location of a factory in England that will employ up to 600 people, as well as supporting more jobs in its industrial supply chain. The final decision is due by June.
Independent 4th Feb 2011 more >>