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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--The South Korean APR 1400 "next generation" nuclear reactor underwent 10 years of development, starting in 1992. The reactor recently passed a preliminary review under a new program by the U.S. Nuclear Regulatory Commission (NRC), which now will conduct a full examination of the reactor. The facility has a longer lifespan and larger capacity than its OPR 1000 predecessor.
Final approval could open the way for exports to the U.S. and other countries, according to Korea Hydro and Nuclear Power (Seoul), a subsidiary of KEPCO (NYSE:KEP) (Yongin, South Korea). An NRC certificate is considered a key indicator of the safety of a reactor.
The NRC introduced the preliminary review system for reactor design in 2014, and the APR 1400 is the first reactor model to be subject to the review. The final review is expected to take about 42 months. As the operating licenses of many U.S. reactors are scheduled to expire in the next 10 to 20 years, demand for new reactors is expected to grow.
The Middle East has become a major target for South Korea's nuclear marketing efforts. The hydrocarbon-based economies are looking to diversify their energy sources.
In the first week of March, a memorandum of understanding (MoU) was signed during a meeting between South Korea President Park Geun-hye and Saudi Arabia's newly crowned King Salman bin Abdulaziz Al Saud.
Korea Atomic Energy Research Institute (Kaeri) and Saudi Arabia's King Abdullah City for Atomic and Renewable Energy (Ka-Care) signed the MoU, which will see the two countries developing Kaeri-designed, system-integrated modular advanced (Smart) reactors. The two countries will conduct a three-year preliminary study, to be completed in 2018, to assess the feasibility of constructing Smart reactors in Saudi Arabia. An already existing agreement to develop nuclear energy for peaceful uses was signed between the countries in 2011.
The Smart reactors have been designed to target Middle Eastern countries, where they can generate electric power and desalinate seawater.
A Kaeri statement said that with the agreement, the South Korean government expects to win $2 billion of nuclear deals, plus additional future orders. If these expectations are realized, it will be the world's first case of small- and medium-sized reactors being exported to a foreign country, they claim.
Saudi Arabia is planning to develop more than a dozen 1,800-megawatt (MW) power plants by 2040 to meet growing domestic demand for electrical power and diversify the energy source base.
For related information, see September 29, 2014, article - UAE Reaches Milestone in Nuclear Development Program, and January 30, 2015, article -Industrial Diversification to Transform Saudi Investment Landscape.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
Final approval could open the way for exports to the U.S. and other countries, according to Korea Hydro and Nuclear Power (Seoul), a subsidiary of KEPCO (NYSE:KEP) (Yongin, South Korea). An NRC certificate is considered a key indicator of the safety of a reactor.
The NRC introduced the preliminary review system for reactor design in 2014, and the APR 1400 is the first reactor model to be subject to the review. The final review is expected to take about 42 months. As the operating licenses of many U.S. reactors are scheduled to expire in the next 10 to 20 years, demand for new reactors is expected to grow.
The Middle East has become a major target for South Korea's nuclear marketing efforts. The hydrocarbon-based economies are looking to diversify their energy sources.
In the first week of March, a memorandum of understanding (MoU) was signed during a meeting between South Korea President Park Geun-hye and Saudi Arabia's newly crowned King Salman bin Abdulaziz Al Saud.
Korea Atomic Energy Research Institute (Kaeri) and Saudi Arabia's King Abdullah City for Atomic and Renewable Energy (Ka-Care) signed the MoU, which will see the two countries developing Kaeri-designed, system-integrated modular advanced (Smart) reactors. The two countries will conduct a three-year preliminary study, to be completed in 2018, to assess the feasibility of constructing Smart reactors in Saudi Arabia. An already existing agreement to develop nuclear energy for peaceful uses was signed between the countries in 2011.
The Smart reactors have been designed to target Middle Eastern countries, where they can generate electric power and desalinate seawater.
A Kaeri statement said that with the agreement, the South Korean government expects to win $2 billion of nuclear deals, plus additional future orders. If these expectations are realized, it will be the world's first case of small- and medium-sized reactors being exported to a foreign country, they claim.
Saudi Arabia is planning to develop more than a dozen 1,800-megawatt (MW) power plants by 2040 to meet growing domestic demand for electrical power and diversify the energy source base.
For related information, see September 29, 2014, article - UAE Reaches Milestone in Nuclear Development Program, and January 30, 2015, article -Industrial Diversification to Transform Saudi Investment Landscape.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
