US, Japan, South Korea back nuclear push with $150 billion investment plan
Washington, Sep 24 (IANS) The United States, Japan and South Korea announced a plan to advance small modular reactor deployment in other countries, alongside an industry initiative aimed at promoting more than $150 billion in reactor investment across Europe.
The announcements were made on the sidelines of the United Nations General Assembly in New York on Wednesday (local time), following a ministerial meeting between the three countries, the State Department said.
The investment figure represents an ambition for the coming years. The announcement did not identify committed financing, individual project costs or construction schedules.
The three governments established an implementation plan supporting a memorandum of cooperation on small modular reactor deployments signed in Ankara on July 7.
The State Department said the agreement and implementation plan would support their mutual security interests and pursue deployment of reactor fleets to meet growing global energy demand.
Separately, Deputy Secretary of State Christopher Landau attended the signing of an industry cooperation framework involving GE Vernova of the United States, Japan’s Hitachi, South Korea’s Samsung C&T and Poland’s SGE.
The framework seeks to advance deployment of the BWRX-300 small modular reactor across Europe.
The State Department said the consortium aimed to provide reliable baseload nuclear power to millions of people and promote more than $150 billion in reactor investment in the coming years.
Baseload power refers to electricity supplied consistently to meet underlying demand.
The department described the industry agreement as a way to combine the participating countries’ industrial strengths and accelerate reactor deployment.
It said the effort would pursue reactors meeting the highest standards of nuclear safety, security and non-proliferation.
The industry framework aligns with the broader objectives of the trilateral memorandum signed earlier this year by Secretary of State Marco Rubio and his Japanese and South Korean counterparts, according to the announcement.
The government arrangement covers cooperation on deployments in other countries, while the industry framework announced on Wednesday specifically focuses on Europe.
India was not named as a participant or a proposed deployment location. The announcement also did not list European project sites, the number of reactors envisaged or dates for bringing them into operation.
Small modular reactors are designed to produce less power per unit than conventional large nuclear reactors. Their modular approach is intended to allow components to be manufactured and assembled in ways that can support repeat construction across multiple sites.
Civil nuclear projects involve more than reactor technology. They also require regulatory approvals, financing, fuel arrangements, trained personnel and provisions for managing radioactive waste. International cooperation has long played a role in bringing those elements together.
–IANS
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