Nuclear power is being supported and developed in more and more countries
Finland, France, and many other European countries have relied on nuclear power for decades. Now, even countries that were planning to phase out nuclear power are reconsidering their stance.
Nuclear power bans are being lifted in Europe
In May, nuclear power professionals gathered in Hanasaari, Helsinki, for the SMR Business Day event. The diversity of the participants highlighted the wide interest in nuclear power, especially in modular SMRs. Our nuclear power experts engaged in discussions with guests from both America and Asia.
Nuclear power is also viewed as the energy solution of the future in Europe. France, for instance, is not shutting down its nuclear power plants but is heavily investing in the further development of nuclear power and new reactors. This is further evidenced by a large delegation of more than 15 companies from France visiting Sweco’s headquarters in Finland after the event.
Interest in the alternatives offered by nuclear power is growing in new countries as well. Recently, we have developed roadmaps guiding the initial phases of nuclear power projects in the Netherlands, Belgium, and Poland. Long-standing nuclear power bans of up to 20–30 years have been lifted, and new legislation now supports the construction of new nuclear power facilities.
Countries such as Norway and Estonia, which do not yet have a nuclear power program, are also showing interest. At the heart of the discussions are new technologies and international cooperation. No project can succeed without a network of supportive partners.
Experience with SMRs is valued
Sweco’s strength in its international partner network lies in its expertise in the design and engineering of nuclear power plants. Finland also possesses the necessary know-how regarding modular SMRs, or small reactors. Since there are several alternative technologies, experience is highly valued.
Sweco has acted as the main partner to the small nuclear power developer, Steady Energy, and we are now continuing our cooperation under the EPCM agreement. The feasibility study phases of SMR projects are progressing in Finland in other areas too. Helen’s nuclear energy program has already begun mapping potential plant sites, and Kuopio is also advancing with an EIA program.
The new era of nuclear power is steadily advancing. Interest is also emerging in new sectors, such as the shipping industry. Besides real estate, nuclear power offers opportunities in shipping, where it could significantly reduce greenhouse gas emissions from large ships.
Why are new operators still interested in nuclear power?
- SMR technologies make it easier to locate nuclear power plants. For instance, the boundaries of safe zones are smaller, allowing nuclear power to be built closer to cities. Costs will also decrease. In principle, a small reactor investment can succeed at a significantly lower cost than a full-size conventional nuclear power plant.
- A fast implementation schedule is a significant incentive for investors. It is possible to get an SMR reactor operational in less time than a full-size reactor. Many operators aim to start up the first SMR reactors by the early 2030s.
- Nuclear power is of interest for geopolitical reasons. Russia’s invasion of Ukraine has prompted many countries to develop their national energy production. Belgium, for example, has decided to build 13 small nuclear reactors near large cities and industrial areas, lightening the load on the electricity grid and spreading risks.
- Climate issues play a crucial role in national decision-making. Many countries have stringent emission reduction targets, but phasing out natural gas, coal, and other fossil fuels requires alternatives. Nuclear power is one such alternative.
Ville-Veikko Karhunen, Sweco Nuclear Business Lead, Area Manager, Sweco Eastern Finland Offices, ville-veikko.karhunen@sweco.fi