pwr_march-2024 - 40

COMMENTARY
What Does the Nuclear
Industry Need to Do to
Scale Production Toward
Net-Zero Goals?
Simon Emeny
T
he United Nations Climate Change Conference (COP28)
proved to be a historic moment for nuclear energy, with
more than 20 countries including the U.S., France, Japan,
and the UK pledging to triple global nuclear energy generation
by 2050. The Net Zero Nuclear Industry pledge, endorsed by
more than 100 companies including LRQA, set the same goal.
The Nuclear Energy Agency (NEA) also launched its new Accelerating
Small Modular Reactors (SMRs) for Net Zero initiative,
utilizing its network to create a practical platform for collaboration
and knowledge exchange.
As the event came to a close, Director-General Magwood of
the NEA noted that the global nuclear sector had been left with
a renewed sense of confidence and a clear outline of actions,
including boosting the workforce and sourcing new financing
streams. Despite these positive developments, challenges persist,
including ongoing public distrust and a history of project
and cost overruns in certain markets, demanding industry efforts
to meet ambitious goals.
Infrastructure. Today, 412 nuclear power reactors operate
in 31 countries and make up more than 370 GW of installed
capacity, providing almost 10% of the world's total electricity
and a quarter of its low-carbon supply. The COP28 pledge is
grounded in the 2020 global nuclear power production figures
of more than 375 GW generated by 422 reactors, so we are
already behind the starting line agreed to in Dubai, increasing
pressure to deliver.
For this number to increase rapidly, more licensed sites
need to be established. SMRs will have a key role to play in
this, opening up locations that aren't usually suitable for larger
nuclear plants. Each will have to comply with regional legislation,
such as the UK Nuclear Installations Act and the Atomic
Energy Act, but securing and selecting new sites will also need
public and political support.
Assuring the Public. To support rapid planning and infrastructure,
addressing public concerns related to safety is
crucial. Education around risk and assuring compliance with
regulation are key to boosting public confidence in all forms of
nuclear power.
The International Atomic Energy Agency's (IAEA's) work establishes
norms for safety legislation, crucial for maintaining
public confidence, while companies can boost trust through
transparent communication about nuclear operations and
safety measures.
The Full Lifecycle. Regulators and industry must collaborate
to address concerns related to public perception and investor
confidence in nuclear projects throughout their lifecycle. The
costs and safety of decommissioning often overlooked in assessing
the carbon impact of alternative clean energy sources,
40
are key considerations for many stakeholders. On the positive
side, nuclear projects have a longer lifespan and a smaller footprint
for comparable megawatt production, offering potential
for greater public support.
Encouraging Investment. Studies have confirmed that
the goal of global net-zero carbon emissions can only be
reached by 2050 with swift, sustained, and significant investment
in nuclear energy. For long-term investments, the
financial climate must be as appealing as it is for any other
infrastructure project: providing secure and predictable returns
over time. To avoid any surprises, project overruns
must be tightly controlled throughout installation and the
decommissioning burden must be integrated to represent
the entire asset lifecycle cost.
These costs can be effectively understood and managed
if factored in during the design and construction stages. Recent
nuclear projects in the United Arab Emirates (UAE) and
the well-executed decommissioning policy in the U.S. serve
as evidence that the full lifecycle of nuclear power can be successfully
managed.
Eliminating Counterfeit and Fraud. Getting installation and
build right the first time is crucial to controlling cost and time
overruns. Ensuring a reliable manufacturing supply chain is key.
While you may think that counterfeit, fraud, and suspect
items (CFSI) wouldn't be a challenge in this tightly regulated
industry, they have been an increasing risk since the pandemic,
the shipping crisis, and the Russia-Ukraine conflict began fragmenting
global supply chains. These supply chains are likely
to come under further pressure as demand scales up, forcing
companies throughout the chain to seek new or alternative
suppliers to deliver the parts and materials they need, on
budget and on time.
Implementing an effective CFSI policy is vital to eliminating
this threat. It should cover culture, prevention, and detection,
whilst also being flexible and adaptive to the evolving climate.
Regular reviews and updates to avoid any negative impact on
an organization's reputation, or in some cases, criminal investigations,
are crucial to ensuring that the nuclear industry can
scale production quickly and safely.
Next Steps. The pledges to triple capacity made at COP28
have been a significant step forward in the nuclear industry's
contribution to global net zero goals. To achieve these ambitions
and scale production successfully, we must work together as
an industry to boost public and investor trust by strengthening
our supply chains and ensuring security and safety throughout
the process. Collaborative assurance and proactive risk management
will play a vital role every step of the way. ■
-Simon Emeny is an international specialist in nuclear energy
and head of inspection with the global assurance firm LRQA.
www.powermag.com
POWER | March 2024
http://www.powermag.com
pwr_march-2024

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