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Electricite de France (EDF) keen to market nuclear power to Asia

French nuclear giant EDF seeks business in Asia China and India loom large for the world’s largest nuclear power company, Nikkei Asian Review, TALLULAH LUTKIN and TOGO SHIRAISHI, Nikkei staff writers, 19 Oct 17,    PARIS — The world’s largest nuclear power company, Electricite de France, believes nuclear power still has a role to play in the future, despite forecasts suggesting the market is in getting precarious. According to one senior EDF official, there are still plenty of opportunities in nuclear plant construction — especially in Asia — that can complement renewable power sources……

State-owned EDF is determined to play a role in the growth of the nuclear power industry worldwide…..

For future projects, EDF has its sights on China, where most of the world’s new reactors are currently being built…..

In India, EDF’s nuclear ambitions should benefit from a combination of a growing economy still reliant on coal, a lack of access to electricity for millions of people, and an existing nuclear program, Ursat said.

The company also plans to jointly develop a plant in Turkey in cooperation with Japan, using a new reactor design, the ATMEA1, developed by French multinational Areva and Mitsubishi Heavy Industries. EDF’s close partnership with Mitsubishi is an indication of the importance of the Japanese market, Ursat said.

EDF is in the process of acquiring part of Areva, which is being restructured to save it from bankruptcy.  EDF will acquire Areva’s nuclear construction operations, renamed New NP, in December for between 1.25 billion and 1.875 billion euros. Mitsubishi Heavy Industries is taking a 19.5% stake in New NP.

Ursat acknowledges that the nuclear power industry faces hurdles. “One of the challenges facing new projects is cost overruns,” he said. Thus, New NP’s primary objective is to “make new projects profitable, stay on schedule and lower costs.”……..

Projections by the International Atomic Energy Agency do not fully support EDF’s optimism, and vary significantly depending on circumstances. In the upper-end scenario, nuclear electricity generating capacity could increase from 391 gigawatts in 2016 to 874GW in 2050 worldwide. In the lower-end scenario, it would decline until 2040 before rebounding to current levels in 2050. Only three reactor constructions were started in 2016, down from 15 in 2010.

Moreover, some developed countries have decided to partly phase out nuclear power. France has announced its intention to close up to 17 nuclear reactors. South Korea’s new president, Moon Jae-in, has vowed to cancel all plans for new nuclear power plants and “move toward a nuclear-free era,” something Germany is already pursuing. Both South Korea and Germany are looking to renewable sources as a replacement for nuclear power, rather than merely as a supplement.

Meanwhile, renewable energy sources are becoming more competitive. According to the International Energy Agency, auction prices for solar power will drop from over $150 per megawatt-hour in 2013 to $30 in 2020….. https://asia.nikkei.com/Business/Companies/French-nuclear-giant-EDF-seeks-business-in-Asia

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October 20, 2017 - Posted by | France, marketing

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