Released February 20, 2024 | GALWAY, IRELAND
en
Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--The European Commission (EC) has teamed up with the nuclear power industry to accelerate the development and rollout of small modular reactors (SMRs).
It has launched the European Industrial Alliance on Small Modular Reactors together with leading nuclear power associations including nucleareurope, Sustainable Nuclear Energy Technology Platform (SNETP) and the European Nuclear Safety Regulators Group (ENSREG). The Commission confirmed that "all technologies will be needed to reach the European Union's (EU's) climate neutrality objective by 2050." It is now looking for key Alliance members to apply from the technology and financial sectors, including the European Investment Bank (EIB). Industrial Info first reported on Europe's initial SMR plans in November. For additional information, see November 21, 2023, article - Europe Warms to Mini Nuclear Reactors.
SMRs are nuclear reactors, typically less than 300 megawatts (MW) in generating capacity, that are much smaller than conventional, large-size nuclear power plants, which tend to be larger than 1,000 MW. This makes them considerably more flexible in terms of cost, site selection, speed of construction and the amount of cooling water needed. They can also be used in integrated energy hubs that use other power sources like renewables and can be located on the sites of former fossil-fuel powered plants. Industrial Info is tracking 32 SMR projects in Europe worth more than US$29 billion in investment. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can click here for the report.
"Today's launch of the EU Industrial Alliance on Small Modular Reactors will bring together the technology side and energy companies to make the most of safe and versatile new nuclear technologies," said Commissioner for Energy Kadri Simson. "They can contribute to our decarbonisation pathway to complement renewables, and provide baseload energy production for deep electrification, a reliable source of heat for industries and urban districts, as well as for low-carbon hydrogen production. Further, the Alliance will facilitate the deployment of the first reactors by the next decade in the countries that choose to do so, in full respect of the highest standards of nuclear safety and environmental sustainability. In short: we want this Alliance to deliver benefits in very practical terms - through full engagement on nuclear safety, using European supply chains, and by boosting innovation for new technologies."
Leading nuclear power developer association nucleareurope welcomed the launch: "The deployment of SMRs will bring significant benefits to Europe, including greater energy sovereignty, lower CO2 emissions, new jobs and economic growth" stated Yves Desbazeille, nucleareurope director general. "The European nuclear industry has been at the forefront of innovation and industrial excellence for decades and this Industrial Alliance will help maintain our industry's world class position. However, there are several challenges which need to be tackled to ensure the smooth deployment of SMRs. Therefore, we are delighted that the Commission is moving ahead with this Alliance in order to work on viable solutions to overcome these challenges."
The work of the Alliance will focus on:
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).
It has launched the European Industrial Alliance on Small Modular Reactors together with leading nuclear power associations including nucleareurope, Sustainable Nuclear Energy Technology Platform (SNETP) and the European Nuclear Safety Regulators Group (ENSREG). The Commission confirmed that "all technologies will be needed to reach the European Union's (EU's) climate neutrality objective by 2050." It is now looking for key Alliance members to apply from the technology and financial sectors, including the European Investment Bank (EIB). Industrial Info first reported on Europe's initial SMR plans in November. For additional information, see November 21, 2023, article - Europe Warms to Mini Nuclear Reactors.
SMRs are nuclear reactors, typically less than 300 megawatts (MW) in generating capacity, that are much smaller than conventional, large-size nuclear power plants, which tend to be larger than 1,000 MW. This makes them considerably more flexible in terms of cost, site selection, speed of construction and the amount of cooling water needed. They can also be used in integrated energy hubs that use other power sources like renewables and can be located on the sites of former fossil-fuel powered plants. Industrial Info is tracking 32 SMR projects in Europe worth more than US$29 billion in investment. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can click here for the report.
"Today's launch of the EU Industrial Alliance on Small Modular Reactors will bring together the technology side and energy companies to make the most of safe and versatile new nuclear technologies," said Commissioner for Energy Kadri Simson. "They can contribute to our decarbonisation pathway to complement renewables, and provide baseload energy production for deep electrification, a reliable source of heat for industries and urban districts, as well as for low-carbon hydrogen production. Further, the Alliance will facilitate the deployment of the first reactors by the next decade in the countries that choose to do so, in full respect of the highest standards of nuclear safety and environmental sustainability. In short: we want this Alliance to deliver benefits in very practical terms - through full engagement on nuclear safety, using European supply chains, and by boosting innovation for new technologies."
Leading nuclear power developer association nucleareurope welcomed the launch: "The deployment of SMRs will bring significant benefits to Europe, including greater energy sovereignty, lower CO2 emissions, new jobs and economic growth" stated Yves Desbazeille, nucleareurope director general. "The European nuclear industry has been at the forefront of innovation and industrial excellence for decades and this Industrial Alliance will help maintain our industry's world class position. However, there are several challenges which need to be tackled to ensure the smooth deployment of SMRs. Therefore, we are delighted that the Commission is moving ahead with this Alliance in order to work on viable solutions to overcome these challenges."
The work of the Alliance will focus on:
- reinforcing the European nuclear supply chain by identifying and addressing gaps and promoting a close cooperation among stakeholders
- supporting SMR project promoters to develop, demonstrate and deploy their projects in the EU market and beyond, by identifying and removing barriers and working together with financial investors, industry and local authorities
- establishing ways to inform and engage potential industrial users of SMRs, such as energy-intensive industries, hydrogen producers, and urban districts
- facilitating and coordinating projects to address future research and innovation needs, particularly for Advanced Modular Reactors under the Euratom Research and Training Programme, and by establishing a nuclear skills academy with the support of the Net-Zero Industry Platform
- promoting public engagement about SMRs by working with relevant civil society organizations and NGOs, as well as cooperating with relevant international bodies to help European SMR projects reach international markets
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).
