The Half-Life Report #1

Golden nuggets in nuclear.

July 22, 2024

Welcome to The Half-Life Report, the weekly nuclear newsletter that gets right to the point and gives you golden nuggets from the world of nuclear.

Here’s last week’s biggest news from the nuclear industry.

#1: Not like US(A)

Biden Signs ADVANCE Act into Law

The ADVANCE Act passed Congress with overwhelming bipartisan support, passing the House on May 8 by a vote of 393-13 and the Senate on June 18 by a vote of 88-2. The Act reflects lawmakers’ goals to p...

www.pillsburylaw.com/en/news-and-insights/biden-signs-advance-nuclear-act.html

President Biden just signed the ADVANCE Act into law, which will fast-track the development of advanced nuclear tech, simplify the NRC's licensing processes, and open the doors for foreign investment in U.S. nuclear projects.

Key benefits: Smoother licensing, a boost for micro-reactors, updated environmental reviews, and lower costs for advanced reactors.

#2: UAE gearing up for Round 2

UAE’s Barakah plant

The UAE is considering building a second nuclear power plant following the success of the Barakah plant, which became the first in the Arab world when it opened in 2021.

Some key points:

  • Why now? Two reasons: a growing population and booming industrial sector are driving the need for more power.

  • A tender for the new plant could kick off as early as this year.

  • The new facility might have two to four reactors, significantly boosting the country's nuclear capacity.

  • Expect fierce competition among global players to win the contract.

You can read more about this here.

Speaking of contracts…

#3: South Korea’s Nuclear Expansion

Korea wins $17.3 bil. nuclear power plant order from Czech Republic

Korea Hydro & Nuclear Power (KHNP) was selected, Wednesday, as the preferred bidder for a 24 trillion won ($17.3 billion) project to build nuclear power plants in the Czech Republic, according to the state-run nuclear power plant operator.

www.koreatimes.co.kr/www/tech/2024/07/129_378872.html

Big win for South Korea: they've clinched the bid to build two nuclear reactors in the Czech Republic, marking their first major overseas nuclear project since 2009.

Key points:

  • Korea Hydro & Nuclear Power (KHNP) beat out France’s EDF for the contract. The deal’s terms are set to be finalized by March.

  • The project is valued at approximately $8.65 billion.

  • Competitive pricing and a strong track record in nuclear projects were key factors for why they won the contract.

That’s it for this week!

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