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Nuclear Power

Wednesday
15 Mar 2023

Enel, Newcleo Link Up on Nuclear Energy Technology

15 Mar 2023  by Reuters   

Italy's biggest utility Enel and clean nuclear technology company newcleo have signed an agreement to work together on the British start-up's technology projects aimed at providing safe and stable power, they said.

The deal marks a renewed interest for nuclear around the world with large energy groups exploring the possibility of developing innovative solutions with start-ups as an alternative to fossil fuels.

"Generation IV nuclear solutions aim to provide a safe and stable power source and to significantly reduce existing volumes of radioactive waste," Enel and newcleo said in a statement.

Under the agreement, newcleo has committed to securing an option for Enel as first investor in its first nuclear power plant, which it will build outside Italy.

London-based newcleo plans to design and construct the first-of-a-kind mini lead fast reactor to be deployed in France by 2030.

Italy banned nuclear energy in 1987 after it was rejected in a national referendum.

Enel currently has over 3.3 gigawatt (GW) of nuclear capacity in Spain and retains a stake of around 33 per cent in Slovak company Slovenské elektrárne, which recently connected to the grid the first of two turbine generators of the nuclear power plant of Mochovce. -Reuters 

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