Global nuclear caution not stopping emerging countries
July 25, 2014 | By
Barbara Vergetis Lundin
The world's nuclear power generation decreased in 2011 and 2012 in the aftermath of the Fukushima accident, but the market is gradually recovering -- with large-scale capacity additions expected in the Asia-Pacific (APAC) region, GlobalData forecasts. In fact, GlobalData sees global nuclear installed capacity increasing from 371 GW in 2013 to 517 GW by 2025, driven by emerging markets. "The after effects of the Fukushima meltdown go beyond the decline of nuclear power generation in Japan," Pranav Srivastava, GlobalData's associate analyst for nuclear power, said. "Germany and Switzerland are now planning to phase out nuclear power, while others -- such as China, Japan, France and the U.K. -- have developed strong frameworks for nuclear safety and performed stress tests on their existing nuclear reactors to ensure safe operations." Despite this more cautious global approach, GlobalData says that the emerging nuclear countries in the APAC region are building more than 20 nuclear reactors and are planning to add 13.8 GW of nuclear power by 2030, led by 6.8 GW of additions in Vietnam. "High electricity demand is a key driver for nuclear power development in Vietnam. The country plans to construct 10 new reactors by 2030 and has signed a number of co-operative governmental agreements regarding the peaceful use of nuclear energy with Russia, China, India, South Korea and Argentina," Srivastava said. "Russia received a construction deal to build the first two reactors in 2009, while Japan won the deal for the third and fourth reactors the following year." Nuclear power is being driven by its capacity to produce large amounts of electricity and, therefore, meet the growing demand for power, as well as its potential to counteract concerns over volatile fossil fuel prices, oil reserve shortages and rising carbon emissions, according to the analyst. For more: © 2014 FierceMarkets, a division of Questex Media Group LLC. All rights reserved. http://www.fierceenergy.com/story/global-nuclear-caution-not-stopping-emerging-countries/2014-07-25 |