To satiate the growing energy needs, UK has approved four reactor developers to build new nuclear power stations.
Areva, the world largest reactor maker, along with Japan’s Westinghouse, US giant General Electric and Canada’s AECL, has won the approval from the Nuclear Installations Inspectorate to modernize aging UK’s power facilities.
After short-listing the companies, it seems interested that which giant will elope with the multi-billion worth contract. Areva, Westinghouse and GE look frontline contenders. UK is supposed to build seven new reactors.
The former PM Tony Blair had shown his interest to built new reactors. Joining the league, newly appointed PM Gordon Brown confirmed his support for atomic energy as he said that for continuous growth, the country can’t rely on one source.
But the uncertainty over the proposed plan looms high as it supposes to take time and high cost to provide an initial ground for plant set ups. On the other side, Greenpeace also raises its apprehension over Government’s nuclear policy, which has already forced a formal consultation on the value of nuclear power.
Investors companies can be in agony as they have to put huge bucks, irrespectively have to wait for years for profit with no certainty it will happen. Experts assert that the cost of the reactor design pre-licensing process could be as much as £10m.
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Via: Telegraph
