Russia expected to play leading role in supporting nuclear generation growth

Asian countries will stay the center of nuclear energy industry growth in the medium term and the long term. According to the International Atomic Energy Agency, the region accounted for 46 out of the 70 nuclear power-generating units under construction in 2014.

Dmitry Kumanovsky, head of the analysis department of ZAO Investment Company Lenmontazhstroy (LMS), told media that Asia is a region where demand for cheap sources of energy will stay in the decades to come. The demand is attributed to the fact that it is no longer possible to reduce costs by reducing the cost of manpower. Apart from that, Asian countries face a shortage of electricity for opening new enterprises. This is why search for new solutions is in progress. In order to compete on the global market it is important to have major proprietary generating power plants that can satisfy current demand and potential new demand for inexpensive energy. Nuclear power plants can be such sources particularly in view of the falling prices for uranium and resulting nuclear fuel due to the wave of rejections to develop nuclear energy industry in developed countries. It is no accident that a growing number of countries resort to Russian nuclear technologies, which offer value for money, high safety standards, and the ability to build nuclear power plants using the turnkey principle on schedule.

The European Union intends to get 80% of its electricity from renewable sources by 2050. However, nuclear energy will still be in use. European companies will build nuclear power plants in peripheral countries of Europe (Poland and Czechia) and will also import energy from nuclear power plants outside the European Union (the Baltic nuclear power plant of Russia and the Belarusian nuclear power plant). It will allow keeping average prices for electricity at an affordable level since energy generated by renewable sources costs a lot more. It will also allow reducing the volatility of energy generation using renewable sources.

In view of the trends outlined by the IAEA Russia will play the leading role in maintaining the nuclear generation growth pace. The Russian Federation has traditionally worked a lot with developing nations, offering them very competitive nuclear installation designs. The Russian Federation also does not support political sanctions imposed by developed countries and has enjoyed the reputation of a reliable partner for many years. Respectively the current expansion of Rosatom’s stock of orders will allow preserving a considerable share of the market.