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
Nuclear power: Engie CEO criticises Arizona ambitions to extend Doel and Tihange lifespan.

Brussels Times, 25 January 2025, https://www.brusselstimes.com/news/1409124/nuclear-power-engie-ceo-criticises-arizona-ambitions-to-extend-doel-and-tihange-lifespan
Negotiators for the new federal government can kiss goodbye their plans to extend additional nuclear reactors or keep Doel 4 and Tihange 3 running for another 20 years. In a frustrated communication on Friday, Engie Belgium’s managing director Vincent Verbeke branded the plans “unthinkable today.”
The work Engie must carry out on Belgium’s nuclear sites is already “colossal”, Verbeke stressed. He points in particular to the dismantling of nuclear power plants that have already been shut down, work to secure the reactors that are due to close in 2025 and above all, the extension of Doel 4 and Tihange 3 until 2035.
It is therefore simply unthinkable to plan to keep Tihange 1 open any longer, insists the head of Engie Belgium. “We’re concentrating on what we’ve agreed, in particular the ten-year extension. This already represents a gigantic amount of work.”
Furthermore, nuclear power is no longer part of Engie’s “strategic ambition”, Verbeke says. The French energy giant is focusing more on renewable energies and flexibility. “We are no longer investing in nuclear power,” adds the CEO.
Plans to extend Doel 4 and Tihange 3 for a further ten years also appear to have fallen on deaf ears for the time being. “A 20-year extension is a different project. It doesn’t exist.” Verbeke reiterated that nuclear power is too expensive and the cheapest option is to invest in renewable energies.
“We are no longer investing in nuclear.”

“We are focusing on what we agreed upon, namely the extension by 10 years.
That is already a gigantic job,” says Vincent Verbeke. According to him,
nuclear is no longer part of Engie’s “strategic ambition”.
The French energy giant focuses on renewable energy and flexibility. “We are no longer
investing in nuclear.” The plans to extend Doel 4 and Tihange 3 by another
10 years seem to fall flat on their face. “A 20-year extension is a
different project. It doesn’t exist,” says Verbeke. He thinks nuclear
energy is too expensive. “The cheapest option is to invest in renewables.”
VRT News 24th Jan 2025, https://www.vrt.be/vrtnws/nl/2025/01/24/bijkomende-verlenging-doel-4-en-tihange-3-ondenkbaar-zegt-eng/
East Suffolk MP warned “billions worthlessly invested” in Sizewell C

Campaigners have written to Member of Parliament for Suffolk Coastal, Jenny
Riddell-Carpenter, about the billions spent on nuclear project Sizewell C,
after costs were speculated to end up spiralling to £40 billion.
The long-term expense of the project has come into question after it emerged
that spending on another nuclear power station that is being built by
French state-owned developer EDF is expected to be in excess of £40bn.
Cour des Comptes, the French state auditor, last week advised the energy
company to delay an investment decision on the nuclear power station in
Sizewell, after Hinkley Point C hit delays and refinancing difficulties.
It advised EDF to slash its financial exposure to the Hinkley Point C project
before making a final decision regarding its investment in Sizewell C.
Campaign group Together Against Sizewell C (TASC) said the auditor’s
advice “demonstrates there are external factors that are outside the
control of the UK government that mean the project might not be
completed”.
Energy Voice 23rd Jan 2025, https://www.energyvoice.com/renewables-energy-transition/nuclear/565933/east-suffolk-mp-warned-billions-worthlessly-invested-in-sizewell-c/
Bill Gates’ nuclear energy startup inks new data center deal

The Verge 23rd Jan 2025
Tech companies are flocking to nuclear energy to power their data centers.
TerraPower, a nuclear energy startup founded by Bill Gates, struck a deal this week with one of the largest data center developers in the US to deploy advanced nuclear reactors. TerraPower and Sabey Data Centers (SDC) are working together on a plan to run existing and future facilities on nuclear energy from small reactors.
Tech companies are scrambling to determine where to get all the electricity they’ll need for energy-hungry AI data centers that are putting growing pressure on power grids. They’re increasingly turning to nuclear energy, including next-generation reactors that startups like TerraPower are developing………..
A memorandum of understanding signed by the two companies establishes a “strategic collaboration” that’ll initially look into the potential for new nuclear power plants in Texas and the Rocky Mountain region that would power SDC’s data centers.
There’s still a long road ahead before that can become a reality. The technology TerraPower and similar nuclear energy startups are developing still have to make it through regulatory hurdles and prove that they can be commercially viable.
Compared to older, larger nuclear power plants, the next generation of reactors are supposed to be smaller and easier to site. Nuclear energy is seen as an alternative to fossil fuels that are causing climate change. But it still faces opposition from some advocates concerned about the impact of uranium mining and storing radioactive waste near communities……………..
TerraPower’s reactor design for this collaboration, Natrium, is the only advanced technology of its kind with a construction permit application for a commercial reactor pending with the U.S. Nuclear Regulatory Commission, according to the company. The company just broke ground on a demonstration project in Wyoming last year, and expects it to come online in 2030………….
https://www.theverge.com/2025/1/23/24350335/bill-gates-terrapower-data-center-sabey-nuclear-energy-ai
“A question arises in terms of nuclear power – should EDF give up its international ambitions?”

The Court of Auditors is concerned about the electricity company’s ability to support the French fleet renewal program, while it finds itself financially exposed in the costly British projects of Hinkley Point and Sizewell, notes Jean-Michel Bezat, journalist at “Le Monde”, in his column.
Heavily indebted, the company has not yet finished
with its difficulties across the Channel, the Court of Auditors recalled in
a report published on Tuesday, January 14: “The EPR sector: new dynamics,
persistent risks”. The commissioning of the British plant is already five
years behind schedule. The additional cost has reached around 12 billion
euros since 2019, while the departure of the Chinese group CGN, linked to
tensions between London and Beijing, is creating a “worrying financing
constraint” . EDF has had to depreciate 11 billion euros of assets, and the
very profitability of the project is at stake.
Le Monde 20th Jan 2025 https://www.lemonde.fr/idees/article/2025/01/20/une-question-s-impose-en-matiere-de-nucleaire-edf-doit-il-renoncer-a-ses-ambitions-internationales_6506629_3232.html
A new report from the International Energy Agency is bullish on the global nuclear sector, but only if obstacles like cost overruns are addressed.

UK’s Sizewell C Nuclear Developers Contest £40B Cost Estimate
January 21, 2025, Primary Author: Gaye Taylor
As French nuclear developer EDF and the UK government dispute recent assertions that the planned Sizewell C nuclear power station in Suffolk will cost £40 billion to build, a new report from the International Energy Agency is bullish on the global nuclear sector, but only if obstacles like cost overruns are addressed.
Sources “close to the negotiations” recently pegged building costs for the not-yet-approved 3.2-gigawatt station at £40 billion, double the estimate given by EDF and then-prime minister Boris Johnson’s Conservative government back in 2020, reports the Financial Times.
“Surging construction costs as well as the implications of delays and cost overruns at sister site Hinkley Point C” were cited as reasons behind the price spike, writes FT. “The higher estimate is likely to raise questions over the government’s strategy for a nuclear power revival, at a time of stretched government finances and cost-of-living concerns,” the London-based daily adds.
……………………………….A spokesperson for the UK’s Department for Energy Security and Net Zero described the £40-billion figure as “speculative” since discussions with potential investors are ongoing.
For its part, France’s state auditor has warned EDF against making any final investment decision on Sizewell C “until it has reduced exposure” to Hinkley Point, reports City AM.
Responding to the auditor, EDF Chair and CEO Luc Rémont said the Labour government has taken charge of financing for Sizewell C, and that his company now holds less than a 20% equity share in the project.
Labour Party donor and UK wind entrepreneur Dale Vince is among those warning that Sizewell C will cost too much to build, whoever builds it, with the costs invariably passed on to the ratepayer.
Sizewell “will saddle consumers with higher bills long before it delivers a single unit of electricity,” Vince said in a recent letter to the government’s new Office for Value for Money, reports FT.
Whitehall is expected to make a final investment decision about Sizewell C later in the year.
Reports of the potential doubling of estimated costs for Sizewell C landed as the International Energy Agency issued a new report on the future of the global nuclear sector. Titled “The Path to a New Era for Nuclear Energy”, the report finds nuclear power “set to reach a new record in 2025”, with consequent improvements in energy security as electricity demand accelerates.
To achieve success, however, the report says, “Costs, project overruns, and financing must be addressed.”
https://www.theenergymix.com/uks-sizewell-c-nuclear-developers-contest-40b-cost-estimate/
UK Nuclear Power Ambitions Hampered by Delays and Soaring Costs
The construction of Hinkley Point C and Sizewell C nuclear power plants is
facing significant delays and cost overruns, jeopardizing the UK’s energy
security. Sellafield Ltd’s cybersecurity failings have raised concerns
about the safety and security of the UK’s nuclear industry.
The UK government’s ambitious plans to expand nuclear power are facing criticism
due to the high costs and potential impact on taxpayers. As the U.K.
government doubles down on plans to develop the country’s nuclear power
industry following decades of neglect, severe delays and cost increases are
hampering progress. Delays and rising costs at the Sizewell C and Hinkley C
nuclear projects have drawn public criticism, while concerns over public
safety have been brought into question due to cybersecurity failings by
Sellafield Ltd. While public support for nuclear power is at its highest
level in decades, these failings could hinder the development of a strong
nuclear power industry in the U.K.
Oil Price 19th Jan 2025, https://oilprice.com/Alternative-Energy/Nuclear-Power/UK-Nuclear-Power-Ambitions-Hampered-by-Delays-and-Soaring-Costs.html
French energy giant EDF launches search for Hinkley Point finance after damning audit report

EDF Group’s chief executive Luc Rémont has hit
back at the national French auditor’s claims that the energy company
should delay its investment in UK nuclear power project Sizewell C.
He said the regulated asset base (RAB) model for financing the Suffolk nuclear
power station, where the cost of development is shared with the consumer,
should not be correlated with the refinancing of the Hinkley Point C
project in Somerset.
The French state-owned energy company has started a
search for financiers to help refinance the delayed project at Hinkley
Point C, following the French state auditor’s findings yesterday,
according to Rémont.
In October, the energy company issued £500m of
senior bonds to help finance investments in two nuclear reactors at the
site. Rémont said that the funding model for the Sizewell C nuclear power
project on the Suffolk coast “limits” EDF’s capital exposure.
The auditor’s report come a week after a letter was sent to the national
auditor in the UK, the National Audit Office, calling for a review of the
government’s spending assessment for Sizewell C. The campaign group
behind the letter raised concerns of rising costs at Hinkley Point C,
another nuclear power station being built by EDF, now estimated to be in
the region of £46 billion. The letter from Together Against Sizewell C
(TASC) followed a plea by Ecotricity founder Dale Vince, a Labour donor,
for the Treasury’s new Office for Value for Money to review plans to
develop the new nuclear power project in Suffolk.
Energy Voice 15th Jan 2025 https://www.energyvoice.com/renewables-energy-transition/565569/french-energy-giant-edf-launches-search-for-hinkley-point-finance-after-damning-audit-report/
EDF Energy Juggles Maintenance Amid UK’s Nuclear Energy Challenges
EDF Energy is ensuring Britain stays powered while handling scheduled
outages at several key nuclear reactors, including Heysham and Hartlepool,
all while preparing for future decommissioning.
With key nuclear capacities
offline for maintenance, the UK’s energy market faces uncertainties.
Investors should monitor energy stock dynamics and a possible shift towards
renewables, as EDF Energy’s planned outages may cause temporary price
swings.
Finimize 16th Jan 2025
https://finimize.com/content/edf-energy-juggles-maintenance-amid-uks-nuclear-energy-challenges
Ukraine’s parliament has given the go-ahead for the purchase of two old Russian nuclear reactors.
Reviving a Soviet-era project, the Ukrainian parliament has authorised the purchase of two Russian nuclear reactors from Bulgaria.
On Thursday, the energy committee of the Ukrainian parliament voted in favour of a law which ostensibly aims to improve the business environment in the country – but which also contained a last-minute amendment greenlighting the purchase of two old Russian nuclear reactors, to expand the Khmelnytskyi nuclear power plant.
“The Cabinet of Ministers of Ukraine and/or … ‘Energoatom’ … are granted permission to negotiate, finalize the text, sign, pay for, accept, and store the equipment,” the amendment, seen by Euractiv, reads.
The Khmelnytskyi plant in the south-west of Ukraine was first dreamt up in the early 1970s during the days of Leonid Brezhnev. Due to the Chernobyl disaster, it only ever operated at half capacity.
In 2023, negotiations began to buy two Russian reactors, originally bought for the unfinished Belene nuclear power plant in Bulgaria. The planned purchase has a floated price of at least €600 million.
US company Westinghouse is also planning to build two reactors at the Ukrainian site.
In June 2024, Ukrainian Energy Minister German Galushchenko, the initiative’s biggest promoter, said that he was betting on foreign loans to finance the purchase. However, in December, the EU’s representative in Kyiv ruled out support for the project.
Euractiv 16th Jan 2025
https://www.euractiv.com/section/eet/news/kyiv-pushes-ahead-controversial-e600m-purchase-of-russian-junk-nuclear-reactors/
Jan 16, 2025
French auditor recommends EDF delays UK Sizewell investment decision.

French State body says nuclear energy group should ensure international projects do not
delay domestic programme. France’s state auditor has said that French
nuclear company EDF should not make a final investment decision in the UK’s
Sizewell C reactor project until it has reduced its exposure to its other
British development, Hinkley Point C.
The Cour des comptes also said state-owned EDF must ensure that any international projects are profitable, and must not delay the programme of new nuclear projects in France. The auditors’ comments on Tuesday came just hours after the Financial Times
reported that the construction cost of the Sizewell C project in Suffolk
was likely to reach £40bn, double the estimate in 2020.
FT 14th Jan 2025 https://www.ft.com/content/9a6f1e55-91e2-4173-8c17-f67da0962201
The EPR nuclear sector: new dynamics show persistent risks -La cour des comptes .

As recommended by the Court, the use of feedback and risk analysis has been
developed.
In addition to the excesses of the Flamanville 3 construction
site, the EPR reactors in operation in China (Taishan 1 and 2) and in
Finland (Olkiluoto 3) have experienced technical malfunctions in recent
years, with significant financial impacts, the consequences of which have
been damaging to the credibility of the EPR 2 programme.
In Great Britain, on the Hinkley Point construction site, EDF is facing a sharp increase in
costs accompanied by a further two-year delay, as well as a heavy
additional financing constraint caused by the withdrawal of the Chinese
co-shareholder.
As regards the new EPR project at Sizewell, delays are
already accumulating, with initial negative consequences in organisational
and financial terms. The Court recommends that a final investment decision
on this project should not be approved until a significant reduction in
EDF’s financial exposure to the Hinkley Point project has been achieved.
The Court also recommends ensuring that any new international nuclear
project generates quantified gains and does not delay the timetable for the
EPR 2 programme in France.
Cour des Comptes 14th Jan 2025, https://www.ccomptes.fr/fr/publications/la-filiere-epr-une-dynamique-nouvelle-des-risques-persistants
Cost of Sizewell C nuclear project expected to reach close to £40bn

“Nuclear is too expensive, too slow — and very expensive to contain at the end of its life.”
Final price tag for building new power plant is likely to be double 2020 estimate
Jim Pickard, Rachel Millard and Gill Plimmer , January 14 2025
The final price tag for building the planned Sizewell C nuclear power station in Suffolk is likely to reach close to £40bn, according to people close to the negotiations over the flagship energy scheme.
The sum is double the £20bn estimate given by developer EDF and the UK government for the project in 2020, reflecting surging construction costs as well as the implications of delays and cost overruns at sister site Hinkley Point C.
The higher estimate is likely to raise questions over the government’s strategy for a nuclear power revival, at a time of stretched government finances and cost of living concerns.
EDF says that once up and running, Sizewell C should be able to supply low carbon electricity to the equivalent of about 6mn homes for 60 years.
The Treasury is due to decide whether to go ahead with the project in this year’s multiyear spending review, according to officials.
The UK government and French energy group EDF were the initial backers of Sizewell C, but they are trying to raise billions of pounds from new investors, a process that is dragging on longer than planned.
Earlier this month the Department for Energy Security and Net Zero (Desnz) said it could not reveal the current cost estimate for the project as it was “commercially sensitive”. …………………
Alison Downes, executive director of campaign group Stop Sizewell C, urged the government to “come clean” on the “massive true cost” of the project given that households would be paying upfront for its construction via a levy on energy bills. “This secrecy around Sizewell C is inexcusable.”
Dale Vince, a big Labour party donor and founder of green energy company Ecotricity, has written to the government’s new Office for Value for Money warning that the construction of Sizewell “will saddle consumers with higher bills long before it delivers a single unit of electricity”.
But one senior government figure and two well-placed industry sources said a reasonable assumption for the cost of building Sizewell C would be about £40bn in 2025 prices.
The government has already awarded £3.7bn of state funding to the project. Ministers had planned to reach a final investment decision by the end of 2024 but were forced to delay this until spring 2025. Now there is industry speculation that any deal could slip beyond the autumn.
Speaking to the Financial Times, he added: “Nuclear is too expensive, too slow — and very expensive to contain at the end of its life”…………………………….
all but one of Britain’s current ageing fleet of plants is due to close by March 2030, potentially sooner if planned life extensions cannot go ahead.
Only one new nuclear power station, Hinkley Point C in Somerset, is at present being built in the UK but it is delayed and over budget.
The project is due to start generating in 2029 at the earliest, and cost up to £46bn. That compares with initial expectations from 2016 that it would start at the end of 2025 and cost £18bn. …………………….
there is scepticism inside government about how much lower Sizewell C’s price tag would be compared with Hinkley Point C………………………………
Lepreau nuclear plant’s costs will continue to balloon: critic.

But NB Power insists the station should supply safe, reliable electricity for years to come
Telegraph-Journal, John Chilibeck • Local Journalism Initiative reporter, Jan 08, 2025
Last year’s costly, prolonged shutdown at the Point Lepreau Nuclear Generating Station near Saint John is just a piece of debilitatingly expensive repairs to come, warns an industry critic.
The outage that lasted between April 6 and Dec. 11 could end up costing New Brunswick ratepayers hundreds of millions.
But Gordon Edwards argues far bigger costs could be coming down the line in the years ahead to the workhorse in NB Power’s fleet of generators that supplies more than one-third of the province’s electricity.
Edwards is the president and co-founder of the nonprofit organization Canadian Coalition for Nuclear Responsibility and a long-time anti-nuclear activist who testified in 2023 before a New Brunswick legislative committee.
He told Brunswick News in a recent interview that many of the hopes behind the massive $2.5-billion refurbishment of the plant in 2012 turned out to be a fantasy. Now 41 years old, the plant is showing its age, he said.
There are things in the Lepreau reactor that were simply not done that should have been done at the time of the refurbishment. – Gordon Edwards
“The promise was held out that by spending all this money on refurbishment that essentially we’d have a brand new reactor,” Edwards said from his home in Montreal.
“And that’s obviously not true. When you replace a part of a complicated piece of machinery, like an automobile for that matter, often times it causes something else to go wrong because it’s worn but has not been replaced. And there are things in the Lepreau reactor that were simply not done that should have been done at the time of the refurbishment.”
According to a report by New Brunswick’s auditor general in 2014, Lepreau’s refurbishment took 37 months longer and cost $1 billion more than anticipated.
The latest shutdown started on April 6. It was supposed to be a 100-day planned maintenance outage to ensure the ongoing reliability and safety of the station’s operations. However, when workers started to fire up the plant again, they discovered a big problem on the non-nuclear side of the station where none of the maintenance work had been done.
Before the plant could get back up and running, the problem had to be fixed: six damaged stator bars inside the main generator. NB Power described the repair process as complex, requiring careful disassembly, reassembly, and extensive testing to meet strict safety and operational standards.
In the end, it took 149 extra days to get the job done and the plant back online.
No official figures have been released on the extra cost to customers, but earlier in the summer an NB Power official at rate hearings in Fredericton said the repairs would be more than $70 million and the cost of buying power or burning more fossil fuel at other stations to pick up the slack would be on average $900,000 a day.
This raises the possibility that the shutdown cost as much as $294 million.
“NB Power continues to assess the financial impact of the extended outage and is actively exploring options to mitigate costs for customers, including potential recovery through corporate insurance policies,” the public utility stated in a press release on Dec. 12.
Edwards predicts more problems will arise because the refurbishment, now more than a decade old, mostly addressed the plant’s nuclear side, not the conventional one.
“The fact that you have the core of the reactor back up to top operating condition, puts more of a strain on these other components that have not been replaced,” he said. “Among the components that weren’t replaced are the steam generators, which are critical.”
Edwards said the private consortium Bruce Power in Ontario took a different course, replacing steam generators at the first two units at the Bruce nuclear plants on the eastern shore of Lake Huron when they were refurbished in 2012.
“That was a prudent thing to do, but NB Power did not replace them at Lepreau. I predict that will be a source of problems going forward,” said the critic, an octogenarian who has a PhD in mathematics from Queen’s University.
……………………………………………………………………Edwards said another major issue at the plant is the prolonged use of the same hard water, which has different physical properties than regular water. He said the 200,000 litres that circulate in tubes is highly radioactive and should have been replaced long ago.
“To keep the costs from ballooning completely out of proportion, NB Power hasn’t replaced the hard water,” he said. “The cost of hard water is expensive. As much as one-fifth of the cost of a nuclear plant is simply the hard water.”
He and other anti-nuke activists, such as the Sierra Club of Canada, have for years called for the hard water’s replacement, arguing the radioactivity can leak during accidental spills, causing a threat to plant workers and the wider environment.
But NB Power says for the time being, such a drastic step is unnecessary.
“We continue to monitor industry-wide processes and improvements as it relates to the reactor moderator heavy water,” Couture said. “It has not been determined at this time that a replacement of the moderator heavy water is required.” https://tj.news/new-brunswick/lepreau-nuclear-plants-costs-will-continue-to-balloon-critic#:~:text=No%20official%20figures%20have%20been,slack%20would%20be%20on%20average
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