Over 20 top-level representatives of the most dynamic companies in the nuclear energy industry in the region participated to a panel dedicated to “Bridging energy security and emissions reductions”, part of the agenda of the 5th meeting of the Partnership for Transatlantic Energy and Climate Cooperation (P-TECC) taking place in Bucharest these days.
The conversation was moderated by Teodor Chirica, President Emeritus of Romatom and Chairman of the Board, Nuclearelectrica, and Ted Jones, Senior Director for National Security and International Programs at Nuclear Energy Institute, a nuclear industry trade association in the United States, based in Washington, D.C. There are many reasons to be concerned about the future of nuclear energy in the region, despite the new impetus the sector has gained in recent years, with new projects approved or pending in Poland, Romania, Bulgaria, Slovakia, Czechia, and Slovenia.
Financing
Expanded public financing; Nuclear in green financing; Support for new nuclear energy projects at international financial institutions, e.g., EBRD and EIB
Regulatory Efficiency
Increased cooperation and modernization to increase licensing efficiency
Supply Chain
Policy support to expand regional supply chains; use of international codes and standards; increased acceptance of international quality certifications, e.g., ISO-9001
Workforce Development
Increased funding for nuclear-related education and training; upskilling to meet nuclear qualifications; international exchanges
International Cooperation
Flexibility in vendor selection processes to enable accelerated deployment
Many of the speakers mentioned the strong relationship between the categories of topics identified. For example, the cost of financing depends not only on the risk evaluation, but also on the regulations in place, as the latter impact the timeline of the projects and also the expenses associated with mandatory actions to be implemented. International cooperation is paramount for completing large and important energy projects, was highlighted, but also that the states should return to the approach they had many decades ago, when the existing nuclear capacities were built: to see this kind of projects as „national strategic industrial capacities” and to support them accordingly in terms of access to financing, strong supply chains, flexible and well-adapted regulatory framework.
The room was dominated by the U.S.-based companies and organisations, among which Bechtel, Fluor Corporation, GE Vernova, Last Energy, NuScale, Sargent&Lundy and Westinghouse Electric Company, but also many members of Romatom were also present, alongside Nuclearelectrica: Ansaldo Nucleare, Automatica, Elcomex, Energonuclear, Roseal, Compcontrol, OCA Global.
The fifth meeting of the Partnership for Transatlantic Energy and Climate Cooperation (P-TECC) takes place in Bucharest on July 23-24, 2024 and is organised by the US Department of Energy, Romanian Ministry of Energy, and the Atlantic Council Global Energy Center. Partner of the Romanian Ministry of Energy is the Association of Electric Energy Producers – HENRO, which has the support of Hidroelectrica, Nuclearelectrica, Romgaz, ELCEN, Transgaz, Electrica Furnizare, Transelectrica.