Released December 12, 2023 | GALWAY, IRELAND
en
Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--French energy major Electricité de France (EDF) (Paris, France) is planning to build at least one nuclear reactor a year in the 2030s.
Speaking at the recent World Nuclear Exhibition in Paris, Chief Executive Officer Luc Remont told delegates: "We are counting on an accelerated rate of construction capacity for large reactors to go from what we have today, that is to say one or two per decade, and gradually increase to one or even 1.5 per year." The goal will be to increase the rate of construction gradually during this decade while standardizing the company's offering based around its European Pressurized Reactor-2 (EPR2) reactor technology which has had a very troubled rollout at a number of giant European projects over the past decade. He added: "We have already done four per year but it was a long time ago [in the 1970s and 1980s] so if they succeeded, it is because it is possible."
Industrial Info is tracking 27 gigawatts (GW) of future capacity across nine EPR2 projects worth US$140 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can click here for the reports. Earlier this summer, French President Emmanuel Macron picked sites for six new EPR2 nuclear power units in France in a show of commitment to the country's most important power company. He selected the existing Bugey, Penly and Gravelines nuclear facilities as the sites to accommodate the EPR reactors, which will collectively add slightly less than 10 GW of nuclear power capacity by 2037. For additional information, see July 24, 2023, article - France's Macron Picks Sites for EPR2 Nuclear Reactors. France relies heavily on nuclear power, with 56 reactors supplying more than 70% of its electricity, but there is a growing pressure to close older reactors and diversify its power mix.
EDF is facing a number of obstacles going forward, not least a number of technical problems that have caused severe outages at a number of its older French nuclear plants as well as delays with its current EPR2 project at Hinkley Point C in the U.K.. In March, the company posted its worst financial losses in 20 years of 17.9 billion euro (US$19.1 billion) for 2022, citing a price cap brought on by the war in Ukraine and spiraling repair costs to a large number of its nuclear reactors. It also revealed that prices would again rise for its ongoing Hinkley project, the U.K.'s first new nuclear power project in almost 30 years. In its statement it warned that costs could rise by up to 20% to more than £32 billion (US$38.7 billion), up from 2022's estimate of almost £26 billion (US$31.4 billion).
"In any industry, you look for the massification effect to improve competitiveness, this is something that has not been possible in the last 20 years because there were too few projects," explained Rémont. "Nuclear power is currently experiencing a comeback in the world, even if it is not yet reflected on a large scale on the ground. From the moment we know that we are going to do a certain number, we organize the [supply chain]...we will get there and we will increase the pace, as in any industry."
Rémont, who was appointed by President Macron to help turnaround the company's fortunes and stabilize France's energy needs, also revealed new nuclear cooperation deals with energy companies in Canada, Czech Republic and India. It includes a letter of interest with Ontario state-owned Ontario Power Group to jointly evaluate the rollout of the EPR in Ontario and other parts of Canada.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Speaking at the recent World Nuclear Exhibition in Paris, Chief Executive Officer Luc Remont told delegates: "We are counting on an accelerated rate of construction capacity for large reactors to go from what we have today, that is to say one or two per decade, and gradually increase to one or even 1.5 per year." The goal will be to increase the rate of construction gradually during this decade while standardizing the company's offering based around its European Pressurized Reactor-2 (EPR2) reactor technology which has had a very troubled rollout at a number of giant European projects over the past decade. He added: "We have already done four per year but it was a long time ago [in the 1970s and 1980s] so if they succeeded, it is because it is possible."
Industrial Info is tracking 27 gigawatts (GW) of future capacity across nine EPR2 projects worth US$140 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can click here for the reports. Earlier this summer, French President Emmanuel Macron picked sites for six new EPR2 nuclear power units in France in a show of commitment to the country's most important power company. He selected the existing Bugey, Penly and Gravelines nuclear facilities as the sites to accommodate the EPR reactors, which will collectively add slightly less than 10 GW of nuclear power capacity by 2037. For additional information, see July 24, 2023, article - France's Macron Picks Sites for EPR2 Nuclear Reactors. France relies heavily on nuclear power, with 56 reactors supplying more than 70% of its electricity, but there is a growing pressure to close older reactors and diversify its power mix.
EDF is facing a number of obstacles going forward, not least a number of technical problems that have caused severe outages at a number of its older French nuclear plants as well as delays with its current EPR2 project at Hinkley Point C in the U.K.. In March, the company posted its worst financial losses in 20 years of 17.9 billion euro (US$19.1 billion) for 2022, citing a price cap brought on by the war in Ukraine and spiraling repair costs to a large number of its nuclear reactors. It also revealed that prices would again rise for its ongoing Hinkley project, the U.K.'s first new nuclear power project in almost 30 years. In its statement it warned that costs could rise by up to 20% to more than £32 billion (US$38.7 billion), up from 2022's estimate of almost £26 billion (US$31.4 billion).
"In any industry, you look for the massification effect to improve competitiveness, this is something that has not been possible in the last 20 years because there were too few projects," explained Rémont. "Nuclear power is currently experiencing a comeback in the world, even if it is not yet reflected on a large scale on the ground. From the moment we know that we are going to do a certain number, we organize the [supply chain]...we will get there and we will increase the pace, as in any industry."
Rémont, who was appointed by President Macron to help turnaround the company's fortunes and stabilize France's energy needs, also revealed new nuclear cooperation deals with energy companies in Canada, Czech Republic and India. It includes a letter of interest with Ontario state-owned Ontario Power Group to jointly evaluate the rollout of the EPR in Ontario and other parts of Canada.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
