EBN: Nuclear Energy Summit: 21 March 2024 in Brussels

By Paul Jouvenet, jurist and essayist. Eurasia Business News (EBN) March 11, 2024 - Many leaders, experts and industry will gather in Brussels on 11 March for the first-ever. Nuclear Energy Summit . The aim of the summit is to highlight the role of nuclear energy in solving global challenges to reduce the use of fossil fuels, enhance energy security and boost economic development. Co-chaired by Belgian Prime Minister Alexander De Croo and International Atomic Energy Agency (IAEA) Director General Rafael Mariano Grossi, the summit will be the highest-level meeting to date exclusively devoted to the topic of nuclear energy. The Summit follows the historic inclusion of nuclear energy in the global stocktake agreed at the United Nations Climate Change Conference (COP28) in Dubai in December 2023, which called for accelerating its deployment alongside other low-carbon energy sources. It will provide an opportunity for the Heads of State and Government of the participating countries to share their vision on the key role of nuclear energy in achieving carbon neutrality and promoting sustainable development, including national plans to harness its full potential.

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Following the launch of the IAEA's Atoms4NetZero initiative , the Summit will include panel discussions with experts who will show how innovation is further improving the competitiveness, usability and sustainability of nuclear energy, as well as the opportunities and challenges of creating a level playing field for the financing and financing of nuclear energy projects.

In preparation for the Nuclear Energy Summit, the European Nuclear Alliance met on Monday 4 March 2024, in the margins of the Energy Council.?The member countries of this Alliance are: Bulgaria, Croatia, Czech Republic, Finland, France, Hungary, Netherlands, Poland, Romania, Slovakia, Slovenia and Sweden .

The European Nuclear Alliance is advocating for increased support for nuclear energy as part of the EU's energy strategy and policies. The alliance aims to develop an integrated European nuclear industry with the potential to provide up to 150 GW of electricity capacity by 2050 in the European Union.?

New reactors in the United States

The year 2024 is also marked by major technological advances in atomic energy. Vogtle 4, an advanced nuclear reactor in the United States, is expected to be commissioned , following the successful launch of Vogtle 3 in 2023.

The Vogtle 4 unit is currently undergoing start-up testing and will provide more than 1,100 megawatts of clean energy to the grid once in operation. The Vogtle 3 unit went into service last summer and uses the same AP1000 technology developed by Westinghouse.

The expansion project received about $12 billion in loan guarantees from the U.S. Department of Energy and supported 9,000 jobs at the height of construction. The Vogtle plant will be the largest source of clean energy in the U.S. once all four reactors are in operation.

The world recognizes the importance of transitioning from fossil fuels to carbon neutrality by 2050, with nuclear power playing a crucial role due to its low carbon footprint and reliability. 2024 is a promising year for nuclear energy, which continues to be a key player in the transition to cleaner and more sustainable energy sources globally.