nuclear-news

AREVA nuclear power company is in trouble

This renaissance is just a fairy tale, THE HINDU, 15 June 12, “…….In India, In Kalpakkam, , the Prototype Fast Breeder Reactor was slotted to contribute to the grid in March 2012. In 2005, Baldev Raj, Director of the Indira Gandhi Centre for Atomic Research, Kalpakkam, boasted that the 500 MW unit will be completed in 2010, 18 months before schedule.

Till date, there is no sign of this happening. The Kudankulam plant, which is now 23 years old since conception, lost only eight months due to protestors. In Jaitapur too, the government has more to worry about than local protestors.

Areva, the technology supplier, is in trouble. Last year, it announced losses of €1.6 billion, and the sacking of 1,200 workers in Germany. Last June, it decided to suspend production at a Virginia reactor component plant due to declining market prospects. Its expansion plans in France, the United Kingdom, and the U.S. may never materialise. Areva expected to sell 50 nuclear reactors this decade. It has not received a single order since 2007.

Now, with a socialist president at the helm in France, Areva’s future looks even more uncertain. French President François Hollande had promised voters a reduction in nuclear dependence from 75 to 50 per cent, and shutdown of an aging reactor in Fessenheim. Whether or not he carries through with these promises, it appears certain that no new
plants will be built or planned during his term.

Both conservative-led Germany and socialist France will make up the shortfall from the
nuclear phase-out, by investing in renewables for electricity and new jobs. In replacing nuclear with renewables, these nations are declaring that despite its carbon dividend, nuclear is too risky — financially, politically and environmentally — to pursue.
http://www.thehindu.com/opinion/op-ed/article3528968.ece

June 18, 2012 - Posted by Christina Macpherson | business and costs, France, Reference