nuclear-news

UAE’s nuclear company seeks to capitalise on AI-induced energy demand in US

Enec’s CEO says it plans to expand overseas after rapid growth in its home market

Malcolm Moore in Abu Dhabi, Ft.com 26 Jan 25
The United Arab Emirates wants to build and consult on nuclear projects around the world, with the US as the fastest-growing market, the head of the country’s state-owned nuclear company has said. 

Emirates Nuclear Energy Company has become a major player since it was established in 2009. It completed the four reactors of its Barakah nuclear power plant, the first in the Arab world, in under 12 years, and on budget. The project was developed in partnership with Korea Electric Power Corp.

The company, known as Enec, has built up investment and research and development teams to explore opportunities beyond the UAE, chief executive Mohamed Al Hammadi told the Financial Times. AI is set to drive a surge in demand for electricity to power data centres.

………………………………………………………Enec has been in discussions to invest in the UK’s Sizewell C project but Al Hammadi declined to comment on whether the company would proceed, only saying that negotiations had “been going through different cycles in the last year”.

The UK has pushed back the final investment decision on Sizewell, which was expected last year, to after the next government spending review expected in the spring, while the estimated cost of the project has doubled from less than five years ago.  

Al Hammadi suggested that the US is seeing the fastest growth in demand for nuclear power because of the boom in AI computing. …………………………………………………………………………………. https://www.ft.com/content/f949780a-3eb2-44f2-9db1-f69ce16161b7

January 28, 2025 - Posted by Christina Macpherson | marketing, United Arab Emirates