29 Oct 2022 5:32 pm
The International Atomic Energy Agency (IAEA) reports that Russia has overtaken the US in global nuclear reactor export markets. According to IAEA director Rafael Grossi, this is due to a more flexible financing model.
Dominance in global markets for commercial nuclear reactors has shifted from the United States to Russia. This was stated by Rafael Grossi, Director General of the International Atomic Energy Agency (IAEA), at a conference of the Carnegie Foundation. On the issue of commercial nuclear power technology, Grossi said:
“I think that’s a challenge for America. It’s traditionally a leader. It’s lost that leadership.”
According to him, Russia is currently the main supplier of commercial nuclear technology to world markets. At the same time, Grossi pointed to attempts by the United States to regain leadership. He said the US nuclear industry is needed both at home and abroad, especially in light of the current energy crisis.
However, the Russian nuclear company Rosatom and the Chinese National Nuclear Corporation (CNNC) have different financing models than their US competitors, according to Grossi. The IAEA chief emphasized:
“Of course they use a different financing model that allows them to move more flexibly, including in international markets. So it’s a challenge for US companies overseas.”
Grossi visited Moscow on October 11 and met Russian President Vladimir Putin. They discussed the situation around the Zaporozhye NPP. Before that, he met the Ukrainian President Vladimir Zelenskiy in Kyiv, with whom he also discussed the situation at the plant. The shelling of the Zaporozhye nuclear plant continues. The sides hold each other responsible for this.
This year, Rosatom announced plans to create a company to offer reactors of various capacities on the world market. It is planned to be built on the basis of Rusatom Overseas by the end of the first quarter of 2023. Andrei Rozhdestvin, currently Regional Vice President for Western Europe at Rusatom – International Network, will be appointed General Manager of the new company.
Rosatom currently controls more than 70 percent of the world’s nuclear energy export market. However, with ambitious plans to build new zero-carbon generation facilities around the world as part of the global energy transition, Rosatom must continue to focus on advancing nuclear technology, a company spokesman said. So far, the state-owned company has only signed contracts for the construction of large power plants abroad, but according to Russian Deputy Prime Minister Alexander Novak, lower-power plants could account for up to 20 to 25 percent of Rosatom’s order portfolio on the world market.
more on the subject – IAEA chief: Moscow and Kyiv show interest in security zone around Zaporozhye nuclear plant