Nuclear Sector Spotlight
People ask me all the time why we talk about advanced nuclear energy?projects at the Loan Programs Office (LPO). The reason is that it is in our original charter. LPO was created out of a recognition that nuclear power cannot succeed without a close relationship with the US Government. More importantly, as we add thousands of gigawatts (GW) of new electrical load as we "electrify everything", we will need nuclear to provide essential "clean firm" electricity to our generation mix.
To meet President Biden’s goals to achieve a clean grid by 2035 and reach net zero emissions economy-wide by 2050, an array of decarbonization technologies—including clean firm power like nuclear energy—will play a critical role. Advanced nuclear will become an increasingly important source of safe, reliable, and carbon-free baseload power as the nation decarbonizes its energy systems. Advanced nuclear, along with other clean firm energy sources, will help ensure there is reliable and affordable energy on a modern, decarbonized grid.
The United States will likely need 200 gigawatts of new nuclear generation by 2050 to meet national decarbonization targets. The Department highlighted ?the opportunities and challenges associated with the advanced nuclear sector in its Pathways to Commercial Liftoff?report . U.S. domestic nuclear capacity has the potential to scale from ~100 GW in 2023 to ~300 GW by 2050, driven by the deployment of a range of advanced nuclear technologies in a range of size categories. Generation III+ (Gen III+) reactors, similar to the conventional reactors operating in the United States, and Generation IV (Gen IV) reactors, which will use novel fuels (e.g., high-assay, low-enriched uranium [HALEU] and coolants), will be needed. In addition, large reactors (~1 GW), small modular reactors (~50-300 MW), and microreactors (50 MW or less) are all expected to play a part.?
However, the risks perceived by utilities and other potential customers of construction cost overruns and project abandonment have limited committed orders for new reactors. As the Liftoff report on?advanced nuclear?suggests, rapid expansion of the nuclear supply chain will help us achieve our decarbonization targets and avoid supply chain overbuild. For example, a five-year delay in rapidly scaling deployment, from 2030 to 2035, would require 20+ GW per year to achieve the same 200 GW deployment by 2050 as starting to scale these technologies in 2030 and ramping to 13 GW per year by 2040. And it could result in as much as a 50% increase in the capital required to achieve our goals.?
But advanced nuclear deployment is already underway. In the last year, two Gen III+ reactors entered commercial operations at Vogtle , a project financed through LPO’s?Title 17 Innovative Clean Energy Loan Guarantee Program (Section 1703). The United States, Poland, and Canada recently announced plans to complete the design of the?GE-Hitachi BWRX-300 , a small modular reactor design.?
Advanced Nuclear Applicant Interest in LPO Programs?
Title 17 can finance a variety of projects across the nuclear supply chain, including:??
In addition, through the?Title 17?Energy Infrastructure Reinvestment Program ?(Section 1706) as authorized by the Inflation Reduction Act, LPO can support asset and infrastructure conversion. Eligible projects include?converting retired fossil fuel assets to nuclear power plants, restarting shuttered nuclear reactors, and upgrading or uprating existing nuclear reactors.?
LPO is uniquely situated to help support key parts of the advanced nuclear value chain in order to reach our decarbonization goals. As of June 26, 2024, $64.89 billion in Advanced Nuclear projects have submitted applications or are expected to submit applications in the next 120 days: $12.09 billion in Section 1703 projects and $52.8 billion in Section 1706 projects.??
For more current details, view LPO’s Monthly Application Activity Report, which explains the level of interest from applicants for LPO financing and what technology sectors have been most actively engaged with LPO.
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DOE Loan Programs Office Advanced Nuclear Applications Update (June 2024)
ADVANCED NUCLEAR – VOGTLE
DOE has issued a total of up to $12 billion in loan guarantees to Georgia Power Company, Oglethorpe Power Corporation, and three subsidiaries of Municipal Electric Authority of Georgia to support the construction of Vogtle Units 3 and 4 near Waynesboro, Georgia—representing the first U.S. deployment of the AP1000 Generation III+ reactor. The reactor is an evolutionary improvement over existing reactors, featuring advanced safety systems.??
In July 2023, Unit 3, the first newly constructed nuclear unit in the U.S. in over 30 years,?entered commercial operations . In April 2024, Unit 4 also?began ?commercial operations.?With a nameplate capacity of nearly 5 GW, Plant Vogtle is the largest clean energy generator in the United States. Creating more than 9,000 construction jobs at peak and 800 permanent jobs, Vogtle is currently the largest jobs-producing construction project in the state of Georgia.??
ADVANCED NUCLEAR – HOLTEC PALISADES
In March 2024, LPO?announced ?a conditional commitment to Holtec Palisades to finance the restoration and resumption of service of an 800-MW electric nuclear generating station in Covert Township, Michigan.?The project aims to bring back online the Palisades Nuclear Plant, which ceased operations in May 2022, and upgrade it to produce baseload clean power until at least 2051, subject to U.S. Nuclear Regulatory Commission (NRC) licensing approvals.?
If finalized, Holtec Palisades will be the first recommissioning of a shut-down nuclear power plant in the United States. Holtec Palisades is also the first project to be offered a conditional commitment through the Title 17 Energy Infrastructure Reinvestment Program (Section 1706). The project is anticipated to avoid 4.47 million tonnes of CO2 emissions per year for a total of 111 million tonnes of CO2 emissions during the projected 25 years of operations—an amount roughly equivalent to the emissions of removing more than 970,000 gasoline-powered cars from the road for a year.
ADVANCED NUCLEAR NEWS ROUNDUP
managers
1 年This is an excellent read. Thank you for your contribution. I'm Esther from Kenya, and I'm a natural resource conservationist with a passion for the environment. And, as a writer, I'd like to be able to write for the environment as a career, pay my bills, and enjoy educating people about the delicate nature of the environment. I've published some articles on my profile, and I hope they'll be of assistance to many.?
Vice President at Haddington Ventures
1 年Will the DOE study on retired coal sites be released to the public? Would love to read it
Project Manager HOD Drilling
1 年Hello Sir/Mam I am Kaliprasad Mohanty from Ahmedabad Gujarat since last 35 Years International level Oilfield Services working experience in Oilfield Offshore and Onshore Drilling and Production,Work Over Cyber Base Rig Protexa Drilling Company I Was Start My Career from Offshore Drilling Rig Maxican Company at On Contract Oil India Ltd Drilling in the Strong resurgence Gulf of Mexico Substantially higher during the Past Several Years. Drilling Rig Azteca , Company Maxican, Rig Reading and Bates Exploration Co.{R & B}Houston,Texas United States Of America Rig D,R, Stewart,Japan Drilling Company,Ltd,Yanagibashi,Tokyo,Japan,111-0052 Japan Hakuray IX Offshore, Nobel Drilling, Trident Drilling Rig Offshore Offshore,Jagson International,Duel Drilling Rig Offshore,Presisian Drilling Offshore,Pero Negro 3 Saipem,Portugal,Comercio Maritimo,Sociedade Unipessoal,Lda.Land Rig Forasol Foramer NV,(FCPA) French Corporation,France.Maersk XL Enhanced Drilling Rig Operation Australia,The Mditerranean and the Gulf of Mexico.Headquarters,Lyngby,Denmark, Offshore Drilling Services,MAERSK DRILLING OILFIELD SERVICES DENMARK Operation Cuu Long Basin Offshore Vietnam. GLOBAL SANTAFE Petroleum Industry,Offshore Drilling,Houston,Texas,Operation Mediterranean Sea Egypt,Cairo Sun Drilling LLP Company Republic of Kazakhstan Allmaty,Aktobe On Contract Trans-Caspian Kazakh Oil & Gas Industry Kazakhstan. First Time Coming in India on Contract Oil India Super Deep Drilling Rig Onshore SVOL TDS XI National Oil Well Rig 1320 UE Project North Laxmipur Bhipueia Contact Rig Key Singapore,Kea Manhattan,Shelf Drilling (Central Europe) LLC,ADRIATIC- 10Red Sea As a Offshore Installation Manager (OIM) OIM I have OIM Licence From Texas USA, Tubing and Casing Tally Course Conduct from Aberdeen UK Web Design,Well Plan Drilling Systematic review All Feild Momentum Engineering Baku Karasu Oil & Gas GULF Drilling International Offshore as a General Manager Operation Java developer forum Microsoft office,Excel Computer software Good Knowledge French,Saipem,Dalma Energy.ADNOC,NDSC NDC,KDC,PDO Oman Schlumberger,Dalma Energy,ESSAR Oil CBM Project as a Project Manager Rig KSA & CBM KCA Drilling project,SVUL Super Deep Drilling MB Petroleum OMAN Rig First time to India TDS IX,Oil India Ltd Lot of Offshore & Onshore Working With international latest equipment,on a Cyber Base 2000HP to3000HP NOV TDS XI SA. Supervision all Important Drilling Operation HOD Casing Lowering,Cementation, Well Head Installations, Coring, Fishing & Production Testing & have Good Exposure of Drilling Exploratory as well as Development Wells Completion.I have a well Control Knowledge Spuding to Well Completion 35 Year's Successful Experience Providing Operations & Startegic Leadership in Uniquely Challenging Situation STCW Certificate BOISET Certificate IWCF level 4 Supervisor Level Certificate 2024 Valid Fro United Kingdom Aberdeen OIM Licence Tublar All Rig HSE Manager Operation Courses From Texas USA Member of IADC Ex CEO CMD Bocservices United States of America Leave this Company About Drilling Supervisor (Company Man) with more than 35 years of experience in the Drilling Industry in various roles including 35 years at a supervisory level in Well Site Supervision (as a Company Man) and in Well Engineering. Unique mix of hands-on field experience & Well engineering experience in drilling and completion of HPHT gas wells, horizontal wells and MPD.Drilling Rig Manager to Handle Complite Project Lot Of Offshore & Onshore Super Deep Drilling I was Start My Career from 1987 to Till Now Challenging work Drilling & Well Complition Oil Gain Award Firrst Drilling Well Complition International Level Working Experience Drilling Supervising to Company Man Project Manager Rig Manager Opertaation Head HOD in all Over World Last I was as a ' PROJECT MANAGER' OPERATION HEAD DRILLING OPERATION TECHNICAL MANAGER MATERIAL CO-ORDINATOR FROM TEXAX UNITED STATES AS PER COMPANY GIVEN CHARGE. SKILLSET ? Best drilling practices implementation which includes lost circulation management policies and proactive measures to prevent stuck pipe occurrence. Also implementation of new technology to improve ROP and ensure safe and earlier than planned completion of Wells. ? HPHT Wells with temperatures above 325°F & pressures above 0.7 psi/ft. ? Horizontal Wells. ? Design & drilling of Wells with high H2S and complex Wells with swelling shales, unstable shales & fractured carbonates with simultaneous loss / influx phenomena. ? Managed pressure drilling (UBD/MPD). ? Preparation of AFE Well cost estimates & cost tracking systems. ? Contracts management including technical scope of work generation, floating of Tenders and tender bids evaluation. ? Well-engineering and round-the-clock drilling operations support to ensure optimum drilling performance & cost control. ? Well-planning software suite Landmark. ? Worked with local government and regulatory bodies to obtain required clearances & permits prior to commencement of drilling operations. ? Technical manpower selection for Rigs. ? Team player and enjoy working with multi-cultural teams. ? Impeccable English language communication skills. Drilling Supervisor (Company Man) with more than 30 years of experience in the Drilling Industry in various roles including 35 years at a supervisory level in Well Site Supervision (as a Company Man) and in Well Engineering. Unique mix of hands-on field experience & Well engineering experience in drilling and completion of HPHT gas wells, horizontal wells and MPD. Blend of Technical & Commercial Skills in Upstream Oilfield Sector Combined With Solid Business Management Experience Project Planning and Management from Conceptualization to Execution. Strategy, Vision & Mission Planning, Contract Negotiation & Strategic Alliances, Operational Leadership Finance, Budgeting & Cost Analysis, Policy and Procedure Development, Government Regulations & Relations, Human Resources Management, Team building & Performance Management, Management System Certification Latest I was Updated Working with Transocean Singapore as a "PROJECT MANAGER VICE PRESIDENT HOD DRILLING & PRODUCTION,EXPLORATION" Project Achievements I Oversees daily operations of the Vessel(s) under his charge and reporting to head Office Operations to obtain RO/WO directly from the Vessel. Verify and pass same to Head Office Operations for creating PR in bassnet system and approval to assist Head Office operations in follow up for PR/PO with Procurement department and ensure timely supplies to the Vessel to assist Procurement department for sourcing and registering local vendors for direct supplies to implement cost control measure,assist Head Office operations in maintaining the Vessel expenditures under allocated budget to provide safety briefings to crew joining the Vessel to carry out periodical inspection of the Vessel and report to Head Office Operations,travel to other BAB Operations Office to assist as per Head Office Instructions in Liaising with Charterers onsite representative for day to day functioning to Monitor daily report from the Vessel to Maintain record for Class + Flag statutory certification and Assist Head Office in arranging local surveyors for attendance. Thanking you Best of Regards Kaliprasad Mohanty +91-9898279827 +91-8144309231 And Highly Obligation Thanking You Awaiting your favorable quick response as soon as possible [email protected] WhatsApp-+91-9427509789 [email protected] Please I am sending you my Latest Resume Sir Attached I Leave my Previous Company Due to COVID 19 Singapore Transocian So any Kind of Suitable Jobs Vacant Under your Kind Control I will be joining ASAP
Sr. Finance Advisor EPA Greenhouse Gas Reduction Fund, Founder i2 Capital, Founding Board Chair Conservation Innovation Fund | Finance and Supply Chain Sustainability across Agriculture, Water and Energy sectors.
1 年Amen.