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☆ UAE and U.S. reach deal for $100 billion in clean energy projects
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

ABU DHABI, Nov 1 (Reuters) - The United States and United Arab Emirates have reached an agreement to spend $100 billion on clean energy projects with a goal of adding 100 gigawatts globally by 2035, U.S. Secretary of State Antony Blinken said on Tuesday. The two governments signed a memorandum of understanding in Abu Dhabi setting out the framework of the deal, Blinken said in a statement. "This memorandum of understanding is an important step forward in our joint efforts to accelerate our collective movement toward clean energy," Blinken said. Under the initiative, the UAE, an OPEC oil producer, and the United States would provide technical, project management and funding assistance for commercially and environmentally sustainable energy projects in other countries. The statement said the partnership would "assemble and stimulate" private and public sector funding and support for clean energy innovation, carbon and methane management, advanced reactors including small modular reactors, and industrial and transport decarbonisation.

☆ UAE and U.S. to spur $100 bln in clean energy projects - WAM
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

ABU DHABI, Nov 1 (Reuters) - The United Arab Emirates and the United States have signed a partnership to spur $100 billion of investments in clean energy projects and add 100 gigawatts of clean energy globally by 2035, state news agency WAM reported on Tuesday. "Together, we will spur large-scale investment in new energy technologies, in our own countries, around the world and in emerging economies," U.S. energy envoy Amos Hochstein said a statement carried on WAM. The statement said the partnership would "assemble and stimulate" private and public sector funding and support for clean energy innovation, carbon and methane management, advanced reactors including small modular reactors, and industrial and transport decarbonisation. Under the initiative, the UAE, an OPEC oil producer, and the United States would provide technical, project management and funding assistance for commercially and environmentally sustainable energy projects in other countries. Reporting by Ahmed Tolba; Writing by Lina Najem and Ghaida Ghantous; Editing by Louise Heavens and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Canada backs nuclear power project with C$970 mln financing
▼ + stars: | 2022-10-25 | by ( Ismail Shakil | ) www.reuters.com time to read: +2 min

The nuclear power project, which is being developed by utility Ontario Power Generation (OPG) in Darlington, will be the first commercial grid-scale SMR in the Group of Seven wealthy nations (G7), according to the minister's spokesperson. read more"We are doing this because nuclear energy – as a non-emitting source of energy – is critical to the achievement of Canada's and the world's climate goals," Wilkinson will say. "Nuclear power is one source that can help in reaching our climate targets while addressing growing future demand." About 15% of Canada's electricity comes from nuclear power, according to the World Nuclear Association. The reactors are designed by GE-Hitachi Nuclear Energy, an alliance between General Electric Co (GE.N) and Japan's Hitachi Ltd , and could power about 300,000 homes after completion, OPG says.

Register now for FREE unlimited access to Reuters.com RegisterThe energy crisis triggered by the war in Ukraine has renewed interest in nuclear power. But without a reliable source of the high assay low enriched uranium (HALEU) the reactors need, developers worry they won't receive orders for their plants. But only TENEX, which is part of Russian state-owned nuclear energy company Rosatom, sells HALEU commercially at the moment. And this chicken and egg conundrum is complicating the smooth development of HALEU supply. "A reliable HALEU supply is one of many factors under consideration," the company said in an emailed statement.

☆ The world is staring down a brutal winter of soaring energy prices, rolling blackouts, and freezing homes. But there's a clear solution to the crisis — if we aren't too scared to use it.
▼ + stars: | 2022-09-20 | by ( Kartik Menon | ) www.businessinsider.com time to read: +11 min

Confronted with energy shortfalls into the colder months and years of potential energy uncertainty, one solution has gained traction around the globe: nuclear energy. Many nations, including the United Kingdom, Netherlands, France, and Japan, have begun or reconsidered massive sovereign investment into nuclear power. Reliable, low-cost, and carbon-free, nuclear energy allows these nations to arrest the economic decline from higher energy prices and make progress toward net-zero goals. Compared to other sources of energy, nuclear power is relatively safe — the number of deaths per terawatt hour produced is comparable to wind and solar energy. These are encouraging steps toward getting the West off of Russian energy and helping consumers weather the tough times ahead.

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