United Arab Emirates in talks to invest in European nuclear power infrastructure
The United Arab Emirates (UAE) is exploring opportunities to invest in
nuclear power infrastructure across Europe, including in Britain, Reuters
has reported.
The state-owned Emirates Nuclear Energy Company (ENEC) is
considering becoming a minority investor in several nuclear power assets.
ENEC, which is owned by Abu Dhabi’s investment fund, the Abu Dhabi
Developmental Holding Company, has ambitions to expand its international
footprint by acquiring minority stakes in nuclear projects.
The company has
been in discussions to invest in the UK, specifically in the Sizewell C
nuclear project, which is currently seeking additional private investment
following the exit of a Chinese investor. Alongside Saudi Arabia, the UAE
is looking to diversify its economy beyond oil, while Britain is actively
seeking private investment to support its nuclear energy ambitions.
Power Technology 2nd April 2024
https://www.power-technology.com/news/uae-invest-european-nuclear-infrastructure
United Arab Emirates signals interest in European nuclear energy investments, sources say
ENEC has ambitions of becoming an international nuclear energy company holding minority stakes in nuclear power infrastructure of other nations, without managing or operating them.
A lack of investment, cost overruns and delays have also plagued recent projects.
It could also face political opposition to an investment in such a sensitive area.
29/03/2024 , By Alexander Cornwell and Maha El Dahan, https://uk.investing.com/news/commodities-news/uae-signals-interest-in-european-nuclear-energy-investments-sources-say-3408307
DUBAI (Reuters) – The United Arab Emirates has approached European nations including Britain to gauge their interest in the Middle Eastern state investing in their nuclear power infrastructure, according to three sources familiar with the talks.
As part of its outreach, the UAE has discussed the idea of state-owned Emirates Nuclear Energy Company (ENEC) becoming a minority investor in European nuclear power assets, the sources said. They requested anonymity because the discussions are private.
ENEC has ambitions of becoming an international nuclear energy company holding minority stakes in nuclear power infrastructure of other nations, without managing or operating them, the sources told Reuters.
ENEC, owned by Abu Dhabi’s ADQ, has been holding talks to invest in the United Kingdom, the sources who have been briefed on the discussions added, without elaborating. Cash-rich oil producers United Arab Emirates and Saudi Arabia are seeking to diversify their economies away from fossil fuels. Meanwhile, Britain is looking for additional private investment in the Sizewell C large-scale nuclear project being built by French energy giant EDF (EPA:EDF) in southeast England after buying out a China backer.
The UAE and Britain in December signed a so-called memorandum of understanding on civil nuclear cooperation at the U.N. climate summit in Dubai, where more than 20 countries agreed a pledge to treble nuclear capacity by 2050.
“Sizewell C is a crucial part of the UK’s agenda for new nuclear power, which is central to our plans for achieving a low cost, clean and secure electricity system,” a spokesperson for Britain’s Department for Energy Security and Net Zero told Reuters.
“The commercial structure of the project is subject to ongoing development and commercially sensitive discussions,” the spokesperson said, adding they could not comment further.
As part of “international growth and investment plans, ENEC is working with a multitude of partners to explore collaboration opportunities in both new civil nuclear projects and civil nuclear technologies and related clean energy technologies such as clean hydrogen,” ENEC said in a statement to Reuters.
EDF declined to comment.
The UK and EDF are ‘on track’ to raise 20 billion pounds ($25.2 billion) for Sizewell C by end of year, a UK energy security minister told the Financial Times in January, without naming the investors. UK ministers have been lining up Abu Dhabi investors for Sizewell C, the Times of London reported last year.
The sources told Reuters that, among the proposals, ENEC could also be a partner in the development of new nuclear energy infrastructure in European countries given its relatively recent experience in building a facility.
ENEC oversaw the construction of the UAE’s sole nuclear power plant, which was constructed in Abu Dhabi by Korea Electric Power Corp (KEPCO), and started commercial operations in 2021.
Several European countries are pushing to expand nuclear – a low-carbon energy source – in an effort to meet ambitious climate goals and develop alternatives to Russian energy supplies.
But European Union states are divided over nuclear energy use, which fell out of favour over safety concerns following Japan’s Fukushima nuclear accident in 2011.
A lack of investment, cost overruns and delays have also plagued recent projects.
ENEC’s backing by a wealthy Gulf state could potentially help overcome investment challenges. However, it could also face political opposition to an investment in such a sensitive area.
Emirati state investments have recently raised concerns in Britain, which has blocked a state-linked acquisition of prominent conservative newspaper the Telegraph.
Britain’s government also determined that a recent investment by UAE state-linked telecommunications company E& posed national security concerns, although approved the deal.
($1 = 0.7925 pounds)
Security concerns as UAE Eyeing Investments in Europe’s Nuclear Energy Sector
By Julianne Geiger – Mar 29, 2024 https://oilprice.com/Latest-Energy-News/World-News/UAE-Eyeing-Investments-in-Europes-Nuclear-Energy-Sector.html
The United Arab Emirates is considering investments in Europe’s nuclear power segment, approaching several European nations to gauge their receptivity to a collaboration, sources familiar with the talks told Reuters this week.
The UAE has discussed the possibility of its state-owned Emirates Nuclear Energy Company (ENEC) investing in European power assets, including Britain’s, to become a minority owner.
According to Reuters’ sources, ENEC has aspirations of expanding its area of operations, becoming an international nuclear energy company that holds minority stakes in other countries. Its aspirations stop short of wanting to manage or operate those stakes, ending with minority ownership only.
ENEC has been in discussions about such an investment in the United Kingdom, the sources said.For Britain, an investment could mean relief for its massive Sizewell C nuclear project, which it says it has successfully drummed up $25 billion in investments so far, in an effort to complete.
As part of “international growth and investment plans, ENEC is working with a multitude of partners to explore collaboration opportunities in both new civil nuclear projects and civil nuclear technologies and related clean energy technologies such as clean hydrogen,” ENEC told Reuters.
While several European nations are looking to expand their nuclear power footprint to help them reach their ambitious net-zero goals, others are divided on whether nuclear power should be classified as green energy at all.
While Britain appears to need investors for Sizewell C, UAE investors have found themselves out of favor, with Britain’s government blocking a UAE investment for the acquisition of The Telegraph and showing concern over a UAE telecom company investment, saying that it raised national security concerns.
Cop28 president says his firm will keep investing in oil
The president of the Cop28 climate summit will continue with his oil
company’s record investment in oil and gas production, despite
coordinating a global deal to “transition away” from fossil fuels.
Sultan Al Jaber, who is also the chief executive of the United Arab
Emirates’ national oil and gas company, Adnoc, told the Guardian the
company had to satisfy demand for fossil fuels.
Guardian 15th Dec 2023
United Arab Emirates is using COP 28 Climate Summit to promote small nuclear reactor industry, as well as fossil fuel industries
Following the launch of a programme aimed at leveraging its experience in
successfully delivering a nuclear power plant project, the UAE’s Emirates
Nuclear Energy Corporation (ENEC) has signed a number of agreements with
small modular reactor and micro-reactor vendors to explore opportunities
for the commercialisation and global deployment of their designs.
World Nuclear News 5th Dec 2023
https://www.world-nuclear-news.org/Articles/ENEC-to-evaluate-deployment-of-SMRs-and-microreact
COP28: UAE planned to use climate talks to make oil deals
By Justin Rowlatt, Climate editor, BBC News 27 Nov 23
The United Arab Emirates planned to use its role as the host of UN climate talks as an opportunity to strike oil and gas deals, the BBC has learned.
Leaked briefing documents reveal plans to discuss fossil fuel deals with 15 nations.
The UN body responsible for the COP28 summit told the BBC hosts were expected to act without bias or self-interest.
The UAE team did not deny using COP28 meetings for business talks, and said “private meetings are private”.
It declined to comment on what was discussed in the meetings and said its work has been focused on “meaningful climate action”.
The documents – obtained by independent journalists at the Centre for Climate Reporting working alongside the BBC – were prepared by the UAE’s COP28 team for meetings with at least 27 foreign governments ahead of the COP28 summit, which starts on 30 November.
They included proposed “talking points”, such as one for China which says Adnoc, the UAE’s state oil company, is “willing to jointly evaluate international LNG [liquefied natural gas] opportunities” in Mozambique, Canada and Australia.
The documents suggest telling a Colombian minister that Adnoc “stands ready” to support Colombia to develop its fossil fuel resources.
There are talking points for 13 other countries, including Germany and Egypt, which suggest telling them Adnoc wants to work with their governments to develop fossil fuel projects………………………………………………….
COP28 is the UN’s latest round of global climate talks. This year it is being hosted by the UAE in Dubai and is due to be attended by 167 world leaders, including the Pope and King Charles III.
These summits are the world’s most important meetings to discuss how to tackle climate change.
The hope is COP28 will help limit the long-term global temperature rise to 1.5C, which the UN’s climate science body says is crucial to avoid the worst impacts of climate change. But that will require drastic cuts in greenhouse gas emissions, it says – a 43% reduction by 2030 from 2019 levels.
As part of the preparations for the conference, the UAE’s COP28 team arranged a series of ministerial meetings with governments from around the world.
The meetings were to be hosted by the president of COP28, Dr Sultan al-Jaber. Each year the host nation appoints a representative to be the COP president.
Meeting representatives of foreign governments is one of the core responsibilities of COP presidents. It is the president’s job to encourage countries to be as ambitious as possible in their efforts to cut emissions.
The leaked briefing documents seen by the BBC were prepared for Dr Jaber – who is also CEO of the UAE’s giant state oil company, Adnoc, and of the state renewables business, Masdar.
United Arab Emirates keen to become an exporter of nuclear reactors and nuclear technology
ABU DHABI, 23rd June, 2023 (WAM) — H.H. Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region, visited Barakah Nuclear Energy Plant to view the latest developments of Unit 4, the final unit at the plant approaching commercial operation, and praised Emirati competencies that contributed to developing nuclear energy sector technologies to export globally.
Sheikh Hamdan was received by Mohamed Ibrahim Al Hammadi, Managing Director, and Chief Executive Officer of the Emirates Nuclear Energy Corporation (ENEC); and Ali Al Hammadi, Chief Executive Officer of ENEC’s subsidiary Nawah Energy Company (Nawah); as well as a delegation from ENEC’s senior management.
At the beginning of his visit, Sheikh Hamdan inaugurated the state-of-the-art Nuclear Reactor Operators Training Centre, which will enhance nuclear reactor operators’ expertise, and was briefed on the “Orchid” digital reactor room, which provides advanced maintenance training for engineers without entering the reactor area.
Sheikh Hamdan bin Zayed then toured the simulation training centre, which is one of the largest and most modern simulation training centres in the world. He also heard from Emirati engineers on the Plant’s developments and achievements, the latest of which was the operational readiness preparations for Unit 4, the fourth and final unit at the Barakah Nuclear Energy Plant in Abu Dhabi…………………..
https://www.wam.ae/en/details/1395303172381
Fossil fuel lobbyists will have to identify themselves as such in registering for the UN Cop28 climate summit
Fossil fuel lobbyists will have to identify themselves as such in
registering for the UN Cop28 climate summit, making polluting and
carbon-intensive industries more accountable at the annual talks.
The move by the UN to require anyone registering for the summit to declare their
affiliation was heralded as a victory for transparency by campaigners who
have been increasingly concerned at the growing presence of oil and gas
lobbyists at climate talks.
Guardian 15th June 2023
Oil-rich nations dominate COP28 – now offering rich sponsorships, in the effort to silence critics
Emanuele Del Rosso Emanuele is an award-winning Italian political cartoonist. His work is published and distributed internationally.
16 January 2023
UN climate summit organisers wage public relations battle. Marketing drive
for multimillion-dollar sponsorships for UAE-hosted event as critics become
more vocal.
The UAE COP28 has offered sponsorship packages ranging up to
$8.2mn (Dh30mn) for a principal partner to enjoy privileged access in the
controlled “blue zone” where world leaders gather, according to
documents sent to prospective sponsors.
Space in the “green zone”, open
to civil society and small business, is less than $7,000 (Dh25,000).
Expressions of interest for pavilions close this week for the event
starting on November 30.
FT 11th June 2023
https://www.ft.com/content/7b17bc43-f303-4039-a8d5-7e9825604a46
Climate hypocrisy: UAE oil company employees given roles in office hosting Cop28
At least a dozen employees from the United Arab Emirate’s state-owned
oil company have apparently taken up roles with the office of the UAE’s
climate change special envoy, who will host this year’s Cop28 UN climate
summit. The revelation adds to growing concerns over the potential for
blurred lines between the team hosting this year’s crucial summit and the
oil-rich country’s influential fossil fuel industry.
Guardian 3rd Feb 2023
https://www.theguardian.com/world/2023/feb/03/uae-oil-company-cop28
Drone and missile attacks on UAE’s Barakah nuclear plant
The United Arab Emirates’ only nuclear power plant is “well protected”
against security threats, the regulator said on Wednesday, following a
series of unprecedented drone and missile attacks on the Gulf state.
Yemen’s Iran-aligned Houthis said in 2017 they fired a cruise missile
towards the Barakah plant, a report which the UAE denied. The group has
repeatedly threatened to target critical infrastructure in the UAE.
Reuters 23rd Feb 2022
Already the ”nuclear for climate for COP26 ” deceitful propaganda is underway, with a ”clean energy certificate”
The scheme provides an accreditation system based on internationally recognised standards and lays the foundations for a market for trading renewable and nuclear energy attributes.
Abu Dhabi launches clean energy certificate scheme, WNN, 22 September 2021
The Abu Dhabi Department of Energy (DoE) has issued a regulatory policy for implementing a clean energy certificates scheme it says will cater to a growing appetite among businesses and consumers to contribute to the fight against climate change. The scheme provides an accreditation system based on internationally recognised standards and lays the foundations for a market for trading renewable and nuclear energy attributes.
The Regulatory Policy for Clean Energy Certificates, which was announced by the department on 29 August, is part of its commitment to drive the transition to a sustainable decarbonised energy sector. ……………………….. https://world-nuclear-news.org/Articles/Abu-Dhabi-launches-clean-energy-certificate-scheme
Unitede Arab Emirates $32 billion Barakah nuclear plant poses environmental, safety, and security problems
Part of Abu Dhabi’s clean energy push, the $32 billion nuclear power station risks destabilising a volatile region with detrimental consequences for the environment.
The UAE’s Barakah nuclear power plant will begin supplying electricity to the national grid at the end of this month………..
Jointly developed by ENEC and Korea Electric Power Corporation (KEPCO), construction of the $32 billion project began in July 2012 and was completed in May 2018.
Financed through a $16.2 billion direct loan from the Abu Dhabi government and a $2.5 billion loan from the Export-Import Bank of Korea, the plant’s reactors are licensed by the Korea Institute of Nuclear Safety and projected to have a lifespan of 60 years.
The first reactor at the plant started operations last year after being connected to the national grid. Fuel is being loaded into a second reactor, which is planned to begin operating later this year. In total, four reactors will eventually operate at the site.
…………. Is Barakah worth the risk?
While the UAE inaugurates the development of civilian nuclear energy, several concerns have been being raised.
The plant, which lies on the western coast of the country, is in close proximity to Qatar. Doha has called Barakah a “flagrant threat” to regional peace and the environment, warning that a radioactive plume from an accidental discharge at the station could reach the country in five to thirteen hours.
Some have questioned the logic of introducing nuclear power in the UAE, where solar power is clearly abundant. Furthermore, in a region where tensions run high, Barakah could provoke the possibility of nuclear proliferation.
“The tense Gulf strategic geopolitical situation makes new civil nuclear construction in the region even more controversial than elsewhere, as it can mean moves towards nuclear weapon capability, as experience with Iran has shown,” argued Paul Dorfman, founder and chair of the International Nuclear Consulting Group.
Saudi Arabia has already pushed ahead with plans to complete its first nuclear reactor under the auspices of the Saudi National Atomic Energy Project. But as Yemen’s Houthi drone strikes against the kingdom’s oil refineries in 2019 indicate, nuclear energy safety will have to be linked to regional security.
Similarly, the spillover effect from the UAE’s foreign policy could make nuclear plants like Barakah a target for politically motivated actors. That Houthi rebels alleged to have fired a missile at the site in 2017, which the UAE denied, could become instantly catastrophic for the Gulf were a future attack to be successful.
There are also detrimental environmental costs. The Gulf region is among the world’s most water-scarce in the world and heavily dependent on desalination, and any accidental nuclear waste spill would have disastrous maritime consequences.
Not to mention climate change itself could impact Barakah, seeing as coastal nuclear sites will be increasingly vulnerable to rising sea levels………. https://www.trtworld.com/magazine/does-the-uae-s-barakah-nuclear-plant-create-more-problems-than-it-solves-45121
UAE, Jordan Condemn Killing of Iranian Nuclear Scientist, Call for Self-restraint
UAE, Jordan Condemn Killing of Iranian Nuclear Scientist, Call for Self-restraint, https://www.haaretz.com/middle-east-news/iran/.premium-uae-condemns-killing-of-iranian-nuclear-scientist-calls-for-self-restraint-1.9335920 The states cautioned against regional escalations after the killing of Iranian nuclear scientist Mohsen FakhrizadehThe United Arab Emirates condemned on Sunday the killing of top Iranian nuclear scientist Mohsen Fakhrizadeh and called on all parties to exercise self-restraint to avoid sliding the region into new levels of instability, the state news agency reported on Twitter.
Jordan, a staunch U.S. ally also condemned the assassination of Fakhrizadeh, state media reported, and called for collective efforts to avoid an escalation in tensions in the Middle East region.
Expansion of nuclear power in the troubled Middle East – not a good idea
Will the UAE’s Barakah project launch new era of peaceful nuclear power in the Middle East? Al-Monitor
Ali Ahmad @Ali_Ahmad_Not 28 Aug 20, “……. Despite the UAE’s commitment and thorough planning, arguably supported by the best experts and consultants, Barakah’s first unit took more than eight years in construction and testing. It is, therefore, safe to assume that other countries in the region will need at least that much time to bring their own projects to completion. Considering such a long time frame, and the emerging energy revolution in the region that is powered by cheap renewables and natural gas, it would be very hard to sell a nuclear project anywhere in the region based on economic rationales………….
Of course, financing was never an issue for the UAE. One of the most daunting challenges for Middle Eastern countries — or indeed any country — with nuclear aspirations has been the substantial financing needed for nuclear power projects. In contrast to the UAE, an oil-rich country with readily available financial resources and a high credit rating of AA2, based on latest data by Moody’s, many other countries in the region are struggling with strained economies and mounting public debt.
The coronavirus pandemic further weakened regional economies, including oil-rich states such as Saudi Arabia, which also suffered from the collapse of oil prices. Meanwhile, the majority of the UAE’s nuclear investments were made well before the pandemic as the project started in 2012……
…..the expansion of nuclear power in the Middle East introduces more challenges than opportunities in a region swept by conflicts, fragility and economic hardship. https://www.al-monitor.com/pulse/originals/2020/08/uae-power-plant-middle-east-nuclear-race.html#ixzz6WSB4zMqe
1.This Month
Small Nuclear Reactors Education Task Force: https://stop-smrs.weebly.com/bulletins.ht
24 May. The Vow from Hiroshima film is coming on PBS, this month https://www.thevowfromhiroshima.com/
6-7 July A summit and a rally in Washington D.C. https://nonatoyespeace.org/
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