By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AmextaFinanceAmextaFinance
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
AmextaFinanceAmextaFinance
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
AmextaFinance > Markets > Commodities > Westinghouse unveils small modular nuclear reactor
Commodities

Westinghouse unveils small modular nuclear reactor

News Room
Last updated: 2023/05/06 at 8:16 AM
By News Room
Share
4 Min Read
SHARE

By Timothy Gardner

WASHINGTON (Reuters) – U.S. company Westinghouse unveiled plans on Thursday for a small modular reactor to generate virtually emissions-free electricity that could replace coal plants or power water desalinization and other industries.

Rita Baranwal, the Westinghouse Electricity Co’s top technology officer, said the reactor, dubbed AP300 for its planned 300 Megawatt capacity, will not use special fuels or liquid metal coolants unlike some other next-generation reactors.

It will be a smaller version of its AP1000 reactor, several of which are operating in China, and which are ramping up in Georgia at the Vogtle plant, after years of delay and billions of dollars over budget.

Despite hurdles for new nuclear, Baranwal was confident. “We’ve kept it simple, designed it on demonstrated and licensed technology, and I think that’s one of the advantages that we have with this concept,” she told Reuters in an interview. Westinghouse, owned by Brookfield Business Partners (NYSE:), plans to start constructing the reactor by 2030 and have it running by 2033.

Small modular reactors (SMR) are meant to fit new applications such as replacing shut coal plants and being located in more remote communities. President Joe Biden’s administration believes that maintaining existing nuclear plants and developing next-generation reactors is crucial for its goal of decarbonizing the economy by 2050.

So far the design for only one SMR, planned by NuScale Power Corp, has been approved by U.S. regulators and it still needs permits.

Westinghouse did not reveal how much the first reactor would cost, but said later units would cost about $1 billion. The company, based in western Pennsylvania, has had informal talks with parties in neighboring states Ohio and West Virginia about the potential building of AP300s at former coal plants.

Westinghouse also hopes to sell reactors to countries in eastern Europe, even though nuclear power critics have expressed concerns that developers and governments should think carefully before building new nuclear plants anywhere near the region. They noted that Russia took the Zaporizhzhia nuclear power plant in Ukraine, the site of repeated shelling.

Baranwal said Russia’s actions have made countries motivated to become more energy independent and the AP300 will be passively safe because it does not need power supply or human intervention for 72 hours in the event of an incident.

Westinghouse also sees potential customers in sub-Saharan Africa, which could bring electricity for the first time to some areas.

The company is not sure yet whether the technology can be exported to China, where the first AP1000s began operations in 2018. That year, former President Donald Trump’s administration issued restrictions on exports of nuclear technology newer than the AP1000 due to nuclear proliferation concerns.

Baranwal said if the U.S. government deems AP300 to be a subset of the earlier reactor technology “then we can start entertaining the possibilities” of exporting it to China.

Read the full article here

News Room May 6, 2023 May 6, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Donald Trump’s threats push Canada to bulldoze its byzantine internal trade barriers

Donald Trump may have done Canada a favour. By imposing sweeping tariffs…

Central banks warned to stay on inflation alert

Stay informed with free updatesSimply sign up to the Global inflation myFT…

Inside the British lab growing a biological computer

In a laboratory outside Cambridge sits a remarkable “biological computer”. Its 200,000…

The power and the glory of profanity

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Crypto-crazy investors make South Korea the best-performing market in Asia

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

- Advertisement -
Ad imageAd image

You Might Also Like

Commodities

Russia mulls extra tax for some commodities exports, including metals – sources

By News Room
Commodities

Gold prices tumble as Fed talks higher rates

By News Room
Commodities

Crude oil prices endure downturn amid U.S. interest rate hike anticipation

By News Room
Commodities

China approves export licences for chip materials gallium, germanium

By News Room
Commodities

European energy crisis: ECB, IEA and EIB to strategize on systematic transition amid soaring prices

By News Room
Commodities

Federal Reserve interest rate signals prompt oil price dip

By News Room
Commodities

Oil prices inch closer to $100 per barrel amid inflation concerns

By News Room
Commodities

Brent Crude Prices May Hit $120 per Barrel, Warns JPMorgan

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

YOUR EMAIL HAS BEEN CONFIRMED.
THANK YOU!

Welcome Back!

Sign in to your account

Lost your password?