The time it requires the construction of a nuclear power plant From the moment the concrete is poured until the moment it is connected to the electrical grid, it takes between 15 and 19 years in the West; between 7 and 9 years in Asia and the Middle East; and 6 to 10 years in India and Russia. And the total cost of the project usually ranges between 24,000 and 60,000 million dollars. Barakah 4 nuclear power plantin the United Arab Emirates, has four nuclear reactors, took 9 years to build and cost $24.4 billion.
On the other hand, the nuclear plant Hinkley Point Cin the United Kingdom, clearly illustrates the execution problems faced by some Western nuclear projects. After several delays Its first reactor will come into operation at best 13 years after the start of construction of the plant. And its final cost will exceed 50 billion dollars. At an intermediate point, Vogtle Unit 4 is established, in the US, which has taken 11 years to be operational and has cost about 35 billion dollars.
As can be expected, the number of reactors and the technology they use have a profound impact on the cost of the plant and the time that needs to be invested in its development. Even so, as we have just seen, construction costs and time vary greatly from one region of the planet to another, especially if we introduce China into the equation. And in this scenario the country led by Xi Jinping is unbeatable with a average construction time of 6 years per nuclear plant and a cost of $2,500/kW compared to the 10-year average and almost 8,500 dollars/kW for the rest of the planet.
China’s recipe is the most competitive
Shangwei Liu explains clearly in the article you published on the website of the Roosevelt Institute what is the strategy that China has devised to reduce the cost and time invested in the construction of its next-generation nuclear power plants. Its plan is based on two pillars: the reconstruction of the supply chain and economies of scale. To a large extent, China’s success is due to the fact that it has managed to create a national supply chain that is immune to the ups and downs and instability of the international market. In addition, it has a lot of qualified labor in all links of its supply chain.
There is only one country on the entire planet capable of approaching China’s numbers in this complex and demanding scenario: South Korea.
On the other hand, the economy of scale that has given China so much joy in a very wide range of markets also has a place in the production of the components required by nuclear plants. Furthermore, when replacing components manufactured abroad by local elements This Asian country managed to drastically reduce costs during the first decade of this century, and stabilize them during the last decade. However, there is another factor that works in China’s favor and that we cannot ignore: its coordinated industrial policy and stable regulatory framework allow it to carry out long-term planning.
There is only one country on the entire planet capable of approaching China’s numbers in this complex and demanding scenario: South Korea. Its latest nuclear plant projects show a cost of between 3,500 and 4,500 dollars/kWwhich places it close to China, with 2,500 dollars/kW, and well below the average of 8,500 dollars/kW for the rest of the planet. This achievement is the result of approaching nuclear energy as an industrial assembly line and not as a set of isolated engineering projects. Again, economy of scale makes the difference.
The US numbers are much less favorable. And the total cost of its latest nuclear plants exceeds $15,000/kWalthough presumably this figure will moderate until it barely exceeds the $10,000/kW in future projects. If Western countries want to drastically reduce their costs and moderate the time it takes to construct their nuclear power plants, they will necessarily have to look towards China and South Korea. The reconstruction of their supply chain is essential, and, in addition, they will have to resolve the crossroads posed by the commitment to large reactors, or by compact modular reactors. At the moment there are no other options on the table.
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More information | Roosevelt Institute
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