Nuclear energy faced severe variations, including: the competition from low-priced natural gas, and the growth of demand for distributed renewable energy generation and photovoltaic power generation in specific markets. However, we are seeing some strong signals that a global nuclear renaissance in 2018 is expected.
In 2018, 14 nuclear power units are expected to be connected to the grid, including some iconic new units, such as AP1000 of Westinghouse and EPR of Framatome (former Areva), which will soon be in operation in China.
Some nuclear power giants restructured to become more proficient and professional in the global market.
– The former Areva reorganization into Framatome and Orano has been completed. During the same period, Framatome, which is focused in reactor design, fuel manufacturing, and nuclear services, also transferred ownership to the world’s largest nuclear power operator EDF. After introducing new international partners and investing in the French government, Orano further consolidated and strengthened its market position in uranium mining, uranium enrichment, reprocessing and decommissioning of nuclear facilities.
- Canada’s Brookfield Asset Management signed an agreement to acquire Westinghouse Electric. Analysts believe that this will help Westinghouse eventually complete its ongoing international projects.
- China National Nuclear Corporation (CNNC) and China Nuclear Engineering Construction Group announced a reorganization and merger and actively explore the export market
- It can be expected that after the reorganization of these companies, there will be some large-scale cooperation in nuclear energy during the year.
Innovation has always helped to make nuclear energy more competitive than other forms of energy, such as advanced reactors and fuel design upgrades. The trend for advanced reactors is small modular reactors, which suppliers can prefabricate at the factory and deliver them on site. More and more investments are being concentrated in this reactor. According to the ThinkWay report, North American companies using advanced nuclear power technology have increased by 56% in the past three years.
