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Nuclear Power

Kansas, TerraPower, and Evergy Sign Deal to Explore Nuclear Reactor and Energy Storage Sites

The Kansas Department of Commerce and TerraPower, a Bill Gates-backed company, signed a Memorandum of Understanding on Tuesday, to explore possible sites for an energy storage facility and a nuclear reactor. This is in response to the soaring need for electricity. After decades of stagnation in the U.S., nuclear power is on the rise again. This is due to the surge in electricity demand for energy-hungry computer centers as well as electrifications of manufacturing and transportation industries. Donald Trump was elected President of the United States in late May. Sign up for our Newsletter Executive orders directing U.S. Nuclear Regulatory...

Electric Utilities

Senator says he's worried about Energy Secretary acting in nuclear firm’s interest

U.S. Edward Markey, a former board member of Oklo nuclear power company in the U.S., wrote to President Donald Trump Tuesday to express his concern that U.S. Energy Sec. Chris Wright works to advance the interests of Oklo. Markey, a Democrat from Massachusetts, said that the Obama administration was moving forward with plans for Oklo's nuclear waste reprocessing facility and transferring government-held plutonium to be used as fuel in reactor projects. Markey stated that "Oklo will benefit financially, and Secretary Wright acts in the interest of his former company." The White House sent a comment request to the Energy Department,...

Electric Utilities

Type One CEO: Tennessee Valley Authority will harness its fusion technologies

Type One Energy CEO Christofer Mowry announced on Friday that the Tennessee Valley Authority, a government-owned utility in the United States, plans to use the technology of Type One Energy at the retired coal fired Bull Run plant. This plant will become the site for a commercial fusion facility. After decades of stagnation in the U.S., nuclear power is making a comeback. This is due to the record demand for electricity from AI data centres as well as electrifications of industries like transportation and manufacturing. Type One Energy announced that it would provide stellarator technology. This is an advanced version...

Power Markets

Under planned reforms, investors in Vietnam will be subject to strict police screening

A draft decree states that investors in Vietnam's energy, telecommunications and construction sectors will have to get police approval before they can proceed with their projects. This is part of a major reform designed to increase security and guarantee the "absolute authority" of the ruling Communist Party. The text of the proposed public security ministry proposal, which is subject to change, could increase the compliance costs for businesses in Southeast Asia while also significantly increasing the power of the security apparatus. The proposal, published on the website of the Ministry of Security, stated that "in socio-economic development security must be...

Electric Utilities

US provides nearly $156 Million in funding for Michigan reactor restart

A source familiar with the matter confirmed on Tuesday that the U.S. has disbursed $156 million as the latest installment in a loan guarantee to Holtec International for its Michigan nuclear power station, the company's hope being that it will be the nation's first reactor to restart following a shutdown. The Loan Programs Office of Department of Energy has disbursed the sixth installment of approximately $491 million of the maximum $1.52 billion of loan guarantees that were approved during the term of former President Joe Biden. Entergy, a power company, closed Palisades after more than 50 years of operation in...

Energy Markets

Elliott says Kansai electric can be more attractive by selling off non-core assets

Elliott Management, an activist investor and Kansai electric power shareholder, has said that the Japanese utility can become a better long-term investment if it sells non-core assets, boosts profitability, and increases shareholder returns. Elliott is now one of the three largest shareholders in Kansai, Japan's largest nuclear power company by number of reactors online. The stake, which ranges between 4%-5%, was disclosed on Wednesday by a source familiar with the situation. In a Wednesday statement released from London, Elliott stated that it looked forward to working closely with Kansai's management team and other key stakeholders in order to enhance the...

Nuclear Power

US lawmakers ask Trump to cancel the plutonium fuel project over concerns about proliferation

Democratic U.S. legislators on Wednesday called for President Donald Trump's cancellation of a plan that would make surplus plutonium derived from Cold War era atomic weapons available to nuclear power operators as fuel, citing a proliferation threat. In May, Trump signed executive orders that directed the government to stop a large part of its current program to dilute plutonium and dispose of it and to instead use it as fuel for advanced nuclear technology. The administration announced last month that it would make about 20 metric tonnes of plutonium, which was derived from decommissioned nuclear warheads, available as fuel for...

Electric Utilities

Oklo to build Tennessee facility for recycling nuclear waste

Oklo, a nuclear power company, announced on Thursday that it will design, build and operate a facility in Tennessee for recycling nuclear waste. This plant is the first phase of an entire nuclear fuel center, which could cost up to $1.6 billion. The fuel plant would be the United States' first of its type if it is approved by the Nuclear Regulatory Commission. The plant is expected to be operational by early 2030s, creating more than 800 new jobs. The initial investment - Oklo didn't specify the amount - will go towards the construction of an installation to recycle nuclear...

Environment

US nuclear safety regulators claim their jobs may be threatened under Trump

The Nuclear Regulatory Commission is the U.S. watchdog for nuclear safety. Two of its three remaining commissioners told a Senate committee on Wednesday that they believe President Donald Trump may fire them if he feels they obstruct the goal of approving reactors more quickly. Trump signed executive order in May setting goals to accelerate new reactor licenses, quadruple U.S. Nuclear Energy capacity by 2050 and boost the U.S. power grid. He also reduced staffing at NRC. Trump fired Chris Hanson, a Democrat. Meanwhile, Republican Annie Caputo left the panel in July to focus more on her family. The traditionally five-member...

Electric Utilities

Bill Gates' TerraPower Utah explores nuclear reactor sites amid surge in power demand

On Monday, the Utah Office of Energy Development signed an agreement with TerraPower and Flagship Companies to explore possible sites for an energy storage facility and a nuclear reactor. This is in response to an escalating demand for electricity. The parties expect to present recommendations by the end the year. After decades of stagnation in the U.S., nuclear power is experiencing an resurgence. This is due to the record demand for data centers that are used by artificial intelligence technologies as well as electrification in industries like transportation and manufacturing. In a joint statement, the companies stated that the agreement...

Nuclear Power

Equinix signs multiple advanced nuclear power deals with data centers

The company announced on Thursday that it has signed several deals for advanced nuclear energy, including power purchase agreement for fission and microreactors pre-ordered for its operations. The race by Big Tech to develop technologies such as generative artificial intelligence that require warehouse-like data centres and can use city-sized quantities of electricity on a single location is increasing global energy consumption, raising concerns about depleted supplies. Data centers have a voracious appetite for energy, which has prompted a growing number of power deals that will fuel them with advanced nuclear technology. The United States, which is the hub of the...

Energy Markets

US selects 11 companies for program to accelerate small nuclear test reactors

The U.S. Department of Energy announced on Tuesday that it had selected 11 companies to participate in a pilot project to build high-tech nuclear test reactors. At least three of these companies are expected to be operational within a year. Why it's important The U.S. wants to develop small reactors to meet the growing demand for power. They say that they will be cheaper per Megawatt than the large reactors of today because the components can be manufactured in factories. The move by the department comes after President Donald Trump's executive orders were issued in May, which sought to speed...

Europe

Power Markets

French utility EDF is facing difficulties in funding $542 billion nuclear project, according to auditors

The French Court of Auditors stated on Wednesday that EDF, a French utility, will have to invest 460 billion euro ($542.39billion) by 2040. This investment is primarily in its nuclear fleet at home, but the rising debt and cash-flow issues are major obstacles. EDF is planning to build six new reactors in the coming decades, but nearly all of France's nuclear reactors are older than 30 years. They require extensive maintenance for them to operate. Ines Mercereau said that "everything related to...preserving the competitiveness of France's economy" involves energy bills at an hearing before the National Assembly. The Court of...

Nuclear Power

Sources: RPT-Commodity traders Mercuria is betting on a boom with its foray into Uranium.

Three sources familiar with the matter said that Mercuria is the first major commodity company to start physical trading of uranium. It joins banks Natixis, Citibank and others as the expected nuclear energy boom fuels the interest in this niche market. Sources said that Mercuria started trading uranium earlier this year. Two sources confirmed that Citibank and Natixis both launched uranium trades this year. The information provided by the three sources is confidential, so they asked that their names not be disclosed. Citi and Natixis (part of French financial group BPCE) declined to comment. Three new banks will be competing...

Nuclear Power

Sources: Mercuria, a commodity trader, is betting on a boom by foraying into uranium.

Three sources familiar with the matter said that Mercuria is the first major commodity company to start physical trading of uranium. It joins banks Natixis, Citibank and others as the expected nuclear energy boom fuels the interest in this niche market. Sources said that Mercuria started trading uranium earlier this year. Two sources confirmed that Citibank and Natixis both launched uranium trades this year. The information provided by the three sources is confidential, so they asked that their names not be disclosed. Citi and Natixis (part of French financial group BPCE) declined to comment. Three new banks will be competing...

Western Europe

North Asia

Power Markets

IAEA says shelling reported near Ukraine's Zaporizhzhia nuclear plant

The International Atomic Energy Agency reported on Tuesday that its team, based at the Russian-controlled Zaporizhzhia Nuclear Power Plant in the southeast Ukraine, heard shelling near the plant and saw black smoke rising out of three locations nearby. IAEA released a statement saying that the team of the U.N. nuclear watchdog had been informed that several artillery shells were fired in an area 400 meters (437 yards), away from its offsite diesel fuel storage facility. The incident, which did not result in any injuries or damage to equipment, once again highlighted the dangers that nuclear security and safety face. IAEA...

Power Markets

The EU's highest court has ruled against Hungary's nuclear aid

The EU's highest court ruled on Thursday that the European Commission shouldn't have approved Hungarian aid to expand its Paks nuclear plant by a Russian firm, as the Commission hadn’t checked whether the contract complied with EU rules. As part of a bilateral agreement between Russia and Hungary regarding the peaceful use nuclear energy, Hungary awarded the contract directly to Nizhny Novgorod Engineering of Russia. The Russian government then provided Hungary with an official loan to help finance the majority of the construction of the new reactors. In 2017, the European Commission also approved the project. In 2018, Austria, a...

Energy Markets

Ukraine drones hit training centre at Zaporizhzhia nuclear plant, Russian management says

The Russian-installed management of the Russia-held nuclear plant in Ukraine announced on Saturday that Ukrainian drones had hit the roof at the Zaporizhzhia training centre. There was no damage to the building and there was no radiation increase. In a Telegram message, the administration stated that the strike took place about 300 meters (984 feet) away from a nuclear reactor. The statement stated that "This centre is unique - it houses the only full scale simulator of a nuclear reactor hall in the world, which is crucial for staff training." Although the station is Europe's largest nuclear power plant, with...

Power Markets

Kazatomprom to triple exploration abroad as it seeks more ventures

Kazatomprom announced plans on Friday to triple its exploration in Kazakhstan, and explore opportunities for international expansion, following recent agreements signed with Jordan and Mongolia. State-controlled company currently produces its uranium in Jordan, but last week signed an agreement with Jordan to develop the country's assets. "We have been recognized for our mining capabilities, which is why... we also look at opportunities overseas," Meirzhan Yossupov, Chief Executive of the World Nuclear Symposium held in London. Kazatomprom has also signed a deal with Mongolia's Mon-Atom, in addition to its Jordan agreement. Yussupov stated that his company was exploring other options. We...

Nuclear Power

Rosatom and EDF promote large nuclear reactors for India's energy future

The Russian nuclear company Rosatom and France’s EDF have positioned large nuclear power plants as the cornerstone for their engagement with India. They are also exploring small modular reactors to be used in targeted applications. India wants to increase its nuclear power production capacity from the current 8 gigawatts to 100 gigawatts in 2047. Reports from April indicated that India was easing rules for foreign entities to be able to own minority stakes nuclear power projects. Rosatom and Indian partners are discussing a range of energy solutions, including large-scale NPPs as well as small modular reactors. Katerina Astashina (South Asia...

Power Markets

Rosatom begins development of an uranium mine in eastern Siberia

Rosatom, Russia's nuclear energy monopoly, has begun development of the Shirondukuyskoye Uranium Deposit in Eastern Siberia. The company plans to produce its first uranium in this deposit by 2028. The deposit, located near Krasnokamensk in the Russian region of the Far East, close to China and Mongolia borders and the city known as the "uranium capitol of Russia", has an estimated 8,000 tons uranium reserves and 40,000 tonnes of molybdenum. The division stated in a press release that "the development of the Shirondukuyskoye Deposit is an important step in the development and growth of Russia's Uranium Mining Industry". It added...

Nuclear Power

Regime change in Tehran? Putin: Iran consolidates around its leaders

When asked if he agrees with Israeli statements regarding a possible regime change in Tehran, Russian President Vladimir Putin responded on Thursday by saying that Iranian society is consolidating around the Islamic Republic’s leadership. Putin has spoken as Trump Keep the World Guessing As residents of Iran's Capital city began to leave the city after the sixth day of Israel's airstrike, many wondered if the U.S. was going to join Israel in its bombardment of Iranian missile and nuclear sites. Putin said that all sides must find ways to end the hostilities so as to ensure both Iran's rights to...

Nuclear Power

Diplomats claim that the UN's nuclear watchdog board will meet to discuss Israel's Iran strike.

Diplomats confirmed that the Board of Governors of the U.N. Nuclear Watchdog will hold an extraordinary meeting on Monday in order to discuss Israel's attacks on Iran. At least one country requested it at the regular quarterly session of this body held on Friday. A meeting can be called by any country that is a member of the International Atomic Energy Agency's (IAEA) board. Diplomats reported that Iran, a member of the board but not a member, had requested a meeting. It was backed by Russia, China, and Venezuela. Diplomats differed on which board member made the initial request. Before...

Energy Markets

IAEA team in Ukraine's Zaporizhzhia claims it heard repeated gunshots

The U.N. nuclear watchdog reported on Thursday that international monitors heard gunfire at the Russian-owned Zaporizhzhia Nuclear Power Plant in Ukraine. It appeared to be directed at drones which were reportedly attacking the training centre at the plant. In the first weeks before Moscow's invasion of Ukraine in 2022, Russian forces captured the Zaporizhzhia nuclear plant, Europe’s largest facility with six reactors. Since then, both sides have accused each other of attacking and threatening nuclear safety the Zaporizhzhia plant. IAEA monitors reported hearing five explosions, preceded each by gunfire between 11:15 a.m. to 13:45 pm local time. The statement did...

Nuclear Power

The Kremlin has said that Putin is willing to assist Trump in the Iran nuclear negotiations.

The Kremlin reported on Thursday that President Vladimir Putin had told Donald Trump, President of the United States, that he would use Russia's close relationship with Iran to assist in negotiations regarding Iran's nuclear program. Trump told Putin in a telephone call on Wednesday that Iran had a limited time to decide on its nuclear program and that he thought Putin agreed with him that the Islamic Republic shouldn't have nuclear weapons. Trump said that Putin suggested that he take part in the talks with Iran, and that he "could, perhaps, help in getting this to a quick conclusion", even...

Power Markets

Energy Minister: Turkey is in talks with Candu about nuclear plants

Alparslan Bayraktar, Turkish Energy Minister, said that Turkey has been in discussions with Candu Energy of Canada and other companies about plans to build Turkey's second and third nuclear plants. Bayraktar, who spoke to journalists during a trip to southeast Turkey Monday, said that Turkey wanted to "put names" on the projects it planned for this year. "Russia, South Korea, and China are all interested in the second or third power plant. He said that in addition to the countries and companies mentioned above, we were also in negotiations with other nations. Canada is one of them. "The Candu company,"...

Energy Markets

Brazil's Lula criticizes Trump tariffs during a meeting with Putin

Brazilian President Luiz Inacio Lula da Silva, who met with Russian counterpart Vladimir Putin on Friday in Moscow, criticized the U.S. president Donald Trump's policies regarding trade and tariffs. He said that they were harmful to multilateralism. Lula is visiting Russia to celebrate the 80th anniversary since the Soviet Union defeated Nazi Germany during World War Two. Russia celebrated this milestone on Friday. Major Military Parade Also in attendance was Chinese President Xi Jinping. "The recent decisions of the U.S. President to unilaterally impose tariffs on all trade with countries around the world undermines the great idea? "Free trade and...