South Korea’s State nuclear company expects to win $billions from marketing nuclear operations to United Arab Emirates
S.Korea signs on to venture to operate UAE’s 1st nuclear power plant http://af.reuters.com/article/energyOilNews/idAFL3N1C32ZG
SEOUL Oct 20 (Reuters) – State-run utility Korea Electric Power Corp (KEPCO) agreed to invest $900 million in a company operating the first nuclear power plant in the United Arab Emirates, South Korea’s energy ministry said on Thursday.
KEPCO expects the deal to boost its revenue by nearly $50 billion over the next 60 years, according to a statement from the ministry.
KEPCO and Emirates Nuclear Energy Corp (ENEC) signed the deal to co-invest in the company managing and operating the UAE’s Barakah nuclear power plant for the next six decades, the ministry statement said.
In 2009, a KEPCO-led consortium won a contract to build the four 1,400 megawatt nuclear reactors that are being constructed at the Barakah plant to meet the UAE’s surging demand for electricity.
South Korea, the world’s fifth-biggest user of nuclear power, constructs and operates its reactors through KEPCO. (Reporting By Jane Chung; Editing by Tom Hogue)
South Korea signs $880 million nuclear reactor staffing deal in UAE http://www.upi.com/Business_News/2016/07/25/South-Korea-signs-880-million-nuclear-reactor-staffing-deal-in-UAE/9691469456937/ The reactors, still under construction, are Korean-designed and made. By Ed Adamczyk ABU DHABI, United Arab Emirates, July 25 (UPI) — South Korea will manage four nuclear reactors under construction in the United Arab Emirates, a deal worth an estimated $880 million, officials said Monday.
Cho Seok, CEO of state-run Korea Hydro & Nuclear Power, signed an operation support services agreement in a ceremony Monday to run the four Korean-made reactors at Barakah, UAE.
Construction of the four reactors began in 2009, with the finish of the first scheduled for May 2017. All four are expected to be completed by 2020. At a signing ceremony in Abu Dhabi on Monday, Mohamed al-Hammadi, CEO of the UAE’s Emirates Nuclear Energy Corp., said, “Over the next decade and beyond, the agreement will continue to build on and enhance the existing long-term nuclear energy partnership between the UAE and South Korea.”
Emirates Nuclear Energy Corporation has signed an operating support services deal with Korea Hydro & Nuclear Power that will see the company dispatch personnel to the Barakah Nuclear Power Plant until 2030.
Under the agreement, the Korean firm will provide main control room operators and local operator to support ENEC’s recently launched local operating subsidiary Nawah Energy Company……http://gulfbusiness.com/korea-hydro-nuclear-power-staff-operate-abu-dhabis-barakah-plant/#.V5UxYtJ97Gg
Nuclear power key for UAE energy security, Khaleej Times Sarakshi Rai/moscow June 5, 2016 Nuclear power is the best way for the world and the UAE to meet its energy demands, according to top nuclear energy professionals at the recently concluded Rosatom Atomexpo 2016.
Atomexpo is the largest exhibition venue for meetings and negotiations between world leaders in the nuclear power sector. This year’s exhibition and conference focused on new players entering the nuclear energy sector.
Mohamed Shaker, minister of electricity and mineral resources, Egypt; Hassan Mahmoud Hassanein, first deputy minister of electricity and mineral resources, Egypt; Khaled Toukan, chairman of Jordan Atomic Energy Commission; and Hashem Yamani, president of King Abdullah City for Atomic and Renewable Energy, Saudi Arabia; featured in day two of the conference at a panel discussion highlighting the future of nuclear power and new players…….
Could UAE solar push lead a trend for the Gulf? BY SAKET S. DUBAI (Thomson Reuters Foundation), 23 May 16 – As the Gulf states take steps to expand their use of clean energy, a bold plan by the United Arab Emirates to boost its use of renewable electricity from less than 1 percent to 24 percent in the next five years could be a game-changer for the region, experts say.
Much of the world is moving away from oil for its electricity generation, according to the International Energy Agency (IEA), which says that globally the fossil fuel has dropped from a 25 percent share to 3.6 percent over the last four decades…….
dropping oil prices and growing concerns about climate change have exposed the downsides of relying on oil. As the Gulf’s demand for power continues to rise, the UAE is leading the way in shifting to greener energy resources.
“The implications of unmitigated climate change for the UAE make its cities unbearably hot, water even more scarce and the region more unstable,” Rachel Kyte, the CEO of the United Nations’ Sustainable Energy for All initiative, told the Thomson Reuters Foundation.
“Action alone and collectively to live in balance with the planet is fundamental for UAE’s future prosperity,” she said.
At the Middle East and North Africa Renewable Energy Conference in Kuwait last month, the Gulf Cooperation Council (GCC) states – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE – pledged to mobilize $100 billion into renewable energy projects over the next 20 years.
One of the projects in the UAE’s renewables push is the $13.6 billion Mohammed bin Rashid Al Maktoum Solar Park in Dubai, which aims to become the biggest solar power plant in the Middle East.
It is expected to generate 5 gigawatts of electricity – enough to power 1.5 million homes – by 2030.
Dubai also plans to install around 100 electric car charging stations as part of its Green Charger Initiative.
By 2050, Dubai wants to reduce its carbon emissions by 6.5 million tons every year, with the aim of becoming the city with the world’s lowest carbon footprint, according to the Dubai Electricity and Water Authority.
Meanwhile, Saudi Arabia has said it wants to add another 9.5 GW of renewable energy capacity to its current capacity of 80 GW by 2030, And Oman’s power sector regulator, the Authority for Electricity Regulation Oman, has announced it will expand rooftop soar installations across residential homes, industrial and commercial buildings.
In Qatar, French energy giant Total SA has announced a joint venture worth $500 million with state-run petroleum, electricity and water companies to develop a solar-power project with a capacity of 1,000 megawatts (MW).
And with a 70 MW solar project due to be operational by 2017, Kuwait plans to meet 15 percent of its energy needs with renewables by 2030, according to the Kuwait Institute of Scientific Research…..
The region already has some of the infrastructure it needs to become a major clean-power hub. The Gulf Cooperation Council countries are linked by a 1,200-km electrical grid, built to help provide backup power in case of a blackout in one part of the system.
Expanded to other countries, that electricity highway could be the backbone of future power trading, experts say.
“The Gulf has an exportable resource in solar energy that could eventually be on a comparable level to oil and gas,” said Jonathan Walters, a former director at the World Bank……..(Reporting by Saket S.; editing by Jumana Farouky and Laurie Goering http://www.reuters.com/article/us-emirates-solar-electricity-idUSKCN0YE1SJ
UAE sets up firm to operate first nuclear power plants, Arabian Business, 17 May 16, By Staff writer The Emirates Nuclear Energy Corporation (ENEC) has announced the formation of a new subsidiary called Nawah Energy Company to operate and maintain the UAE’s first nuclear reactors at Barakah.
The ENEC board of directors have mandated ENEC management to proceed with the formation of the operating company and to ensure the transfer and provision of all required resources to form the operating subsidiary, a statement said.
“The formation of Nawah as ENEC’s subsidiary operating company will bring greater focus towards the safe and quality delivery of Units 1-4 at Barakah,” the statement said.
It added that Nawah’s mission will be to “safely and reliably generate electricity from nuclear energy”, and aims to become a globally recognized nuclear utility in the safe operation of nuclear energy plants…….http://www.arabianbusiness.com/uae-sets-up-firm-operate-first-nuclear-power-plants-632003.html#.VzuUJjV97Gg
UAE is the example to follow on energy, the National ae, Thamer Al Subaihi October 29, 2015 ABU DHABI // The oil-rich countries of the region should follow the UAE’s example in recycling their wealth into renewable energy, the UK’s secretary of state for foreign and commonwealth affairs said.
“The countries of this region have a choice,” said Philip Hammond at Masdar City on Thursday. “They can choose to do very little and hope climate change will not affect them, or take a lead from the UAE, investing in renewable energy and clean technology.”
Also speaking at the event was Dr Sultan Al Jaber, UAE Minister of State and chairman of Masdar, who said the UAE was committed to significantly increasing its use of renewable energy through the Intended Nationally-Determined Contribution plan it has submitted to the United Nations.
“Within the plan is the UAE’s national target to generate 24 per cent of its electricity from clean energy resources by 2021,” he said.
Mr Hammond praised the UAE’s investment in renewable energy domestically and globally as well as its ambitious plan of increasing its use of it. “Your target to achieve a quarter of your energy from clean sources within six years is bold and impressive,” said Mr Hammond.
While the UAE has the world’s seventh-largest reserves of oil and gas, Mr Hammond said it was to the nation’s credit that it was “already planning for a future beyond oil”.
The talk took place ahead of the global climate summit set to take place in Paris in December.
Mr Hammond said the time to invest in renewable energy was now, as climate change had the potential to significantly impact every country. “Climate change knows no borders and will respect no sovereignty,” he said. “While the UK would suffer from more extreme rainfall, storms and flooding, this region would be at risk from evermore extreme heat, water scarcity and drought.”
Adnan Amin, director general at the Masdar-based International Renewable Energy Agency, said that although significant strides had been made in the sector over the past decade, much more had to be done to prevent the global surface temperature increasing by 2ºC, which some experts said could be the tipping point to major climate change……..http://www.thenational.ae/uae/environment/uae-is-the-example-to-follow-on-energy
UAE Says Nuclear Energy Programme Progressing “On Schedule” Emirates Nuclear Energy Corporation (ENEC) completes the concrete dome for the Unit 1 Reactor Containment Building. Gulf Business, 13 Jan 15 By Aarti Nagraj The UAE’s nuclear energy programme is progressing on track to begin operations in 2017, the Emirates Nuclear Energy Corporation (ENEC) said on Tuesday.
The first unit of the $20 billion Barakah project – which includes four reactors in total – is now more than 60 per cent complete and on track to commence commercial operations in 2017, pending further regulatory approvals, ENEC said………
The dome, which measures 51.4 metres in diameter, 24 meters in height and weighs approximately 9000 metric tonnes, has been constructed over the past five months in nine stages……….http://gulfbusiness.com/2015/01/uae-says-nuclear-energy-programme-progressing-schedule/#.VLWGnNKUcnk
One of the most controversial provisions in the talks includes new corporate empowerment language insisted upon by the U.S. government, which would allow foreign companies to challenge laws or regulations in a privately run international court.
Previously leaked TPP documents have sparked alarm among global health experts, Internet freedom activists, environmentalists and organized labor, but are adamantly supported by American corporations and the U.S. Chamber of Commerce. The Obama administration has deemed negotiations to be classified information — banning members of Congress from discussing the American negotiating position with the press or the public. Congressional staffers have been restricted from viewing the documents
Obama Faces Backlash Over New Corporate Powers In Secret Trade Deal HUFFINGTON POST 12/09/2013 WASHINGTON –– The Obama administration appears to have almost no international support for controversial new trade standards that would grant radical new political powers to corporations, increase the cost of prescription medications and restrict bank regulation, according to two internal memos obtained by The Huffington Post. Continue reading
Sentencing delayed for Duluth nuclear protester, Duluth News Tribune A judge has delayed a sentencing hearing for a Duluth man and two other protesters for breaking into a nuclear weapons plant in Tennessee. By: Associated Press staff,, 16 Sept 13 A judge has delayed a sentencing hearing for a Duluth man and two other protesters for breaking into a nuclear weapons plant in Tennessee.
U.S. District Judge Amul Thapar granted a motion last week from defense attorneys asking to postpone the date.
The sentencing, which had been scheduled for this month, was reset for Jan. 28 in Knoxville.
Defense attorneys said they needed more time to prepare for the proceeding.
The defendants — Greg Boertje-Obed of Duluth, Sister Megan Rice and Michael Walli — were convicted in May of sabotaging the plant and damaging federal property last year at the Y-12 National Security Complex in Oak Ridge.
Numerous letters have been sent to the federal judge asking for leniency and objecting to the government’s labeling of pacifists as terrorists.
“The court continues to receive a large volume of letters,” Thapar wrote in the order postponing the hearing.
The defendants remain in federal custody.http://www.duluthnewstribune.com/event/article/id/278086/
Dubai looks to rooftop solar power revolution, The National, Florian Neuhof May 13, 2013 , Dubai is finalising legislation that will enable property owners to feed solar power into the grid and may even allow them to make money from it. The Government last year unveiled plans for a 1,000-megawatt solar park, but it believes that small-scale applications are important for meeting its renewable energy targets.
“In the near future we will have a legislative environment that allows for grid-connected solar power. There will be different approaches for different scales,” said Ivano Iannelli, the chief executive of the government-owned advisory company Dubai Carbon Centre of Excellence.
“In the next 12 months, we will see a constant increase of solar infrastructure. Not only standalone facilities such as solar pumps, but to actually power our villas, our parks, our residential communities.”
Industry sources say that encouraging the use of solar on rooftops is one of the pillars of Dubai’s plans to bring the technology to the emirate. Photovoltaic panels can be mounted on roofs of residential properties, office buildings or industrial facilities, providing electricity and creating a surplus that can be fed into the grid…… After decades of relying on fossil fuels, Dubai has now woken up to the potential of solar power.
The emirate seeks to generate 5 per cent of its electricity from the sun by 2030. Last year, the Dubai Supreme Council for Energy announced plans for the Mohammad bin Rashid Al Maktoum Solar Park, and Dewa awarded the contract for the first array in October.
While solar is a clean source of energy, it is also an increasingly viable alternative to scarce natural gas. http://www.thenational.ae/thenationalconversation/industry-insights/energy/dubai-looks-to-rooftop-solar-power-
Moscow to help UAE with region’s largest nuclear energy program
World Tribune ABU DHABI 30 Dec 12 — Russia and the United Arab
Emirates have signed a
nuclear cooperation agreement. The two countries said they would
cooperate in nuclear energy as part of UAE plans to establish a
network of reactors over the next 20 years…..
Officials said the agreement could make Russia’s Atomic Energy
Cooperation, known as Rosatom, a leading supplier to Abu Dhabi’s
They said the Kremlin was prepared to provide technology, equipment,
nuclear fuel and expertise to a UAE program estimated at $40 billion
and so far led by South Korea….
UAE Nuclear Power Corp. to raise $2 bln in loans http://www.dailystar.com.lb/Business/Middle-East/2012/Nov-20/195569-uae-nuclear-power-corp-to-raise-$2-bln-in-loans.ashx#axzz2CsdUajHi November 20, 2012 Emirates Nuclear Energy Corp., which is building the Gulf Arab region’s first nuclear power plant in Abu Dhabi, is raising $2 billion from bank loans to finance construction, according to two bankers familiar with the plan.
The 20-year facility being raised by the government-owned company pays interest of 175 basis points, or 1.75 percentage points, above the London interbank offered rate, according to the bankers, who asked not to be identified because the information is private. The interest rate will rise over the loan’s life to 260 basis points above the benchmark, the bankers said. Continue reading
Renewable energy to power growth Masdar symbolises the UAE leadership’s vision of sustainable economic progress and development of human capital By Sultan Ahmad Al Jaber, Gulf News November 30, 2011 “…….Masdar is a growing global hub for clean technology companies and works across the renewable energy value chain; covering education, research and development, investment in clean technology, implementation of renewable energy projects, and reducing carbonemissions.
In just five years, Masdar has achieved a great deal and hosts the permanent headquarters of the International Renewable Energy Agency (Irena) at Masdar City. Irena is the first international organisation to be headquartered in the Middle East. … Continue reading
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