“China and Russia are building the most reactors. But their state-owned model of development is at odds with the European and US emphasis on private capital. That will likely need to change if Western economies want to maintain nuclear’s market share.“
The government or a wealthy investment group would need to subsidize building and cover significant cost overruns to make a private nuclear power plant financially viable for banks to invest in them in the future. Their models fail because recent plants are years late to finish and up to billions over budget. Or make it state owned and eventually prove it to be profitable for them to divest from renewables.
“The newest reactor in the European Union — Olkiluoto 3 in Finland — started generating power last year, more than a decade late and three times over budget. Similarly in the US, Southern Co.’s Vogtle facility came in seven years behind schedule and $16 billion over estimates.“
The government or a wealthy investment group would need to subsidize building and cover significant cost overruns to make a private nuclear power plant financially viable for banks to invest in them in the future. Their models fail because recent plants are years late to finish and up to billions over budget. Or make it state owned and eventually prove it to be profitable for them to divest from renewables.
“The newest reactor in the European Union — Olkiluoto 3 in Finland — started generating power last year, more than a decade late and three times over budget. Similarly in the US, Southern Co.’s Vogtle facility came in seven years behind schedule and $16 billion over estimates.“