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Time of India
5 hours ago
- Business
- Time of India
UAE sets global benchmark in peaceful nuclear energy development
The UAE continues to cement its status as a global role model in developing a peaceful nuclear energy programme that adheres to the highest standards of safety, transparency, and international cooperation. This comes at a time when the world is increasingly turning to reliable energy sources that can support the transition to climate neutrality. From the outset, the UAE adopted a collaborative and open approach, forging robust international partnerships, most notably with the Republic of Korea and the United States, to drive forward its nuclear ambitions. Mohamed Al Hammadi, Managing Director and Chief Executive Officer of Emirates Nuclear Energy Corporation (ENEC), highlighted the international stature of the UAE's peaceful nuclear energy programme. He highlighted the country's success in developing a global model for integrating nuclear power into a diverse and innovative energy portfolio. Al Hammadi noted that this achievement is rooted in the visionary leadership of the UAE, a clearly defined roadmap, and a firm commitment to the highest standards of safety and transparency, underpinned by strong international cooperation. In statements to the Emirates News Agency (WAM), Al Hammadi added that the UAE has been a pioneer in international cooperation and coordination within the nuclear energy sector. He pointed to the country's significant efforts in this vital field, which culminated during the COP28 with over 30 nations pledging to triple global nuclear energy capacity by 2050 as part of the drive toward climate neutrality. Additionally, nearly 120 companies and banks worldwide committed to supporting this ambitious goal. He also highlighted the innovative model of international cooperation between the UAE and the U.S, which addresses the demands of the modern era and its rapid technological advancements, particularly in the fields of artificial intelligence and data centres. Al Hammadi emphasised that securing clean and reliable energy sources, such as nuclear power, is essential to support initiatives like the ''Stargate UAE'' project. Launched by a consortium of tech companies, the initiative aims to position Abu Dhabi at the forefront of the global AI revolution. For their part, key UAE entities, led by the Emirates Nuclear Energy Company (ENEC) and the Federal Authority for Nuclear Regulation (FANR), play a central role in advancing the UAE's nuclear programme. Through a robust network of strategic and technical international partnerships, these institutions have facilitated knowledge transfer, experience exchange, and the development of specialised human capital. Cooperation with the Republic of Korea has served as the cornerstone for the successful development of the Barakah Nuclear Energy Plant . Over time, this partnership has expanded to include new investment opportunities in international ventures, including the deployment of Small Modular Reactors (SMRs). On the regulatory front, the UAE's Federal Authority for Nuclear Regulation (FANR) maintains agreements with its Korean counterpart covering joint inspections and capacity building. These ties are further strengthened through regular meetings to monitor technological advancements and regulatory developments. With the United States, the UAE has signed a series of strategic agreements aimed at advancing nuclear innovation and sustainability. These include a Memorandum of Understanding with the U.S. Department of Energy's Idaho National Laboratory (INL) to develop solutions for producing hydrogen, water, and steam at the Barakah Nuclear Energy Plant. The UAE has also partnered with TerraPower to support the development of advanced reactors, and signed an MoU with General Atomics (GA), a leading US advanced technology solutions company, to collaborate on using advanced technologies and materials for nuclear energy supply. Most recently, a partnership was announced with GE Vernova to jointly evaluate the deployment of the BWRX-300 Small Modular Reactor (SMR) technology internationally. As part of its efforts to expand its network of strategic partnerships, the UAE is actively exploring avenues of cooperation with China in the development and operation of nuclear power plants, both domestically and in third countries. Areas of collaboration include the operation and maintenance of nuclear facilities, the development of high-temperature gas-cooled reactors, nuclear fuel supply chains, and investment opportunities. In parallel, FANR has strengthened its ties with counterpart agencies through agreements that enhance cooperation in nuclear safety, security, non-proliferation, and capacity building, further reinforcing the UAE's commitment to global nuclear governance. In a move that underscores the expanding international footprint of the UAE's nuclear programme, ENEC has signed a cooperation agreement with Romania. As part of the agreement, the UAE will support the development of a Small Modular Reactor (SMR) project in Romania, backed by an investment of $275 million. The UAE continues to affirm its leadership as a regional model for countries pursuing nuclear energy as a strategic option. UAE and the Kingdom of Saudi Arabia have concluded the first bilateral cooperation initiative in the nuclear regulatory industry. The cooperation follows the 2019 agreement on the Peaceful Use of Nuclear Energy between the two nations. This was followed by regulatory partnerships focused on exchanging expertise, enhancing legislative frameworks, and strengthening emergency preparedness. Further expanding its regional outreach, the UAE and Egypt have signed a Memorandum of Understanding (MoU) at COP28. The MoU sets the framework to explore opportunities for cooperation in advancing the use of peaceful nuclear energy and knowledge exchange.
Sharjah 24
18 hours ago
- Business
- Sharjah 24
UAE emerges as global leader in peaceful nuclear energy
This comes at a time when the world is increasingly turning to reliable energy sources that can support the transition to climate neutrality. A collaborative and transparent approach From the outset, the UAE adopted a collaborative and open approach, forging robust international partnerships, most notably with the Republic of Korea and the United States, to drive forward its nuclear ambitions. Mohamed Al Hammadi, Managing Director and Chief Executive Officer of Emirates Nuclear Energy Corporation (ENEC), highlighted the international stature of the UAE's peaceful nuclear energy programme. He highlighted the country's success in developing a global model for integrating nuclear power into a diverse and innovative energy portfolio. Visionary leadership and a defined roadmap Al Hammadi noted that this achievement is rooted in the visionary leadership of the UAE, a clearly defined roadmap, and a firm commitment to the highest standards of safety and transparency, underpinned by strong international cooperation. In statements to the Emirates News Agency (WAM), Al Hammadi added that the UAE has been a pioneer in international cooperation and coordination within the nuclear energy sector. He pointed to the country's significant efforts in this vital field, which culminated during COP28 with over 30 nations pledging to triple global nuclear energy capacity by 2050 as part of the drive toward climate neutrality. Additionally, nearly 120 companies and banks worldwide committed to supporting this ambitious goal. Innovation and technological advancements He also highlighted the innovative model of international cooperation between the UAE and the U.S, which addresses the demands of the modern era and its rapid technological advancements, particularly in the fields of artificial intelligence and data centres. Al Hammadi emphasised that securing clean and reliable energy sources, such as nuclear power, is essential to support initiatives like the ''Stargate UAE'' project. Launched by a consortium of tech companies, the initiative aims to position Abu Dhabi at the forefront of the global AI revolution. Institutional leadership and knowledge transfer For their part, key UAE entities, led by the Emirates Nuclear Energy Company (ENEC) and the Federal Authority for Nuclear Regulation (FANR), play a central role in advancing the UAE's nuclear programme. Through a robust network of strategic and technical international partnerships, these institutions have facilitated knowledge transfer, experience exchange, and the development of specialised human capital. Strategic partnership with South Korea Cooperation with the Republic of Korea has served as the cornerstone for the successful development of the Barakah Nuclear Energy Plant. Over time, this partnership has expanded to include new investment opportunities in international ventures, including the deployment of Small Modular Reactors (SMRs). On the regulatory front, the UAE's Federal Authority for Nuclear Regulation (FANR) maintains agreements with its Korean counterpart covering joint inspections and capacity building. These ties are further strengthened through regular meetings to monitor technological advancements and regulatory developments. Expanding ties with the United States With the United States, the UAE has signed a series of strategic agreements aimed at advancing nuclear innovation and sustainability. These include a Memorandum of Understanding with the U.S. Department of Energy's Idaho National Laboratory (INL) to develop solutions for producing hydrogen, water, and steam at the Barakah Nuclear Energy Plant. The UAE has also partnered with TerraPower to support the development of advanced reactors and signed an MoU with General Atomics (GA), a leading US advanced technology solutions company, to collaborate on using advanced technologies and materials for nuclear energy supply. Most recently, a partnership was announced with GE Vernova to jointly evaluate the deployment of the BWRX-300 Small Modular Reactor (SMR) technology internationally. Exploring cooperation with China As part of its efforts to expand its network of strategic partnerships, the UAE is actively exploring avenues of cooperation with China in the development and operation of nuclear power plants, both domestically and in third countries. Areas of collaboration include the operation and maintenance of nuclear facilities, the development of high-temperature gas-cooled reactors, nuclear fuel supply chains, and investment opportunities. Strengthening nuclear governance In parallel, FANR has strengthened its ties with counterpart agencies through agreements that enhance cooperation in nuclear safety, security, non-proliferation, and capacity building, further reinforcing the UAE's commitment to global nuclear governance. Expanding international presence In a move that underscores the expanding international footprint of the UAE's nuclear programme, ENEC has signed a cooperation agreement with Romania. As part of the agreement, the UAE will support the development of a Small Modular Reactor (SMR) project in Romania, backed by an investment of $275 million. Regional leadership and partnerships The UAE continues to affirm its leadership as a regional model for countries pursuing nuclear energy as a strategic option. The UAE and the Kingdom of Saudi Arabia have concluded the first bilateral cooperation initiative in the nuclear regulatory industry. The cooperation follows the 2019 agreement on the Peaceful Use of Nuclear Energy between the two nations. This was followed by regulatory partnerships focused on exchanging expertise, enhancing legislative frameworks, and strengthening emergency preparedness. Cooperation with Egypt Further expanding its regional outreach, the UAE and Egypt have signed a Memorandum of Understanding (MoU) at COP28. The MoU sets the framework to explore opportunities for cooperation in advancing the use of peaceful nuclear energy and knowledge exchange.
Al Etihad
20 hours ago
- Business
- Al Etihad
UAE sets global benchmark in peaceful nuclear energy development
6 June 2025 20:12 ABU DHABI (WAM)The UAE continues to cement its status as a global role model in developing a peaceful nuclear energy programme that adheres to the highest standards of safety, transparency, and international comes at a time when the world is increasingly turning to reliable energy sources that can support the transition to climate the outset, the UAE adopted a collaborative and open approach, forging robust international partnerships, most notably with the Republic of Korea and the United States, to drive forward its nuclear Al Hammadi, Managing Director and Chief Executive Officer of Emirates Nuclear Energy Corporation (ENEC), highlighted the international stature of the UAE's peaceful nuclear energy highlighted the country's success in developing a global model for integrating nuclear power into a diverse and innovative energy Hammadi noted that this achievement is rooted in the visionary leadership of the UAE, a clearly defined roadmap, and a firm commitment to the highest standards of safety and transparency, underpinned by strong international statements to the Emirates News Agency (WAM), Al Hammadi added that the UAE has been a pioneer in international cooperation and coordination within the nuclear energy sector. He pointed to the country's significant efforts in this vital field, which culminated during the COP28 with over 30 nations pledging to triple global nuclear energy capacity by 2050 as part of the drive toward climate neutrality. Additionally, nearly 120 companies and banks worldwide committed to supporting this ambitious also highlighted the innovative model of international cooperation between the UAE and the US, which addresses the demands of the modern era and its rapid technological advancements, particularly in the fields of artificial intelligence and data Hammadi emphasised that securing clean and reliable energy sources, such as nuclear power, is essential to support initiatives like the ''Stargate UAE'' project. Launched by a consortium of tech companies, the initiative aims to position Abu Dhabi at the forefront of the global AI their part, key UAE entities, led by the Emirates Nuclear Energy Company (ENEC) and the Federal Authority for Nuclear Regulation (FANR), play a central role in advancing the UAE's nuclear programme. Through a robust network of strategic and technical international partnerships, these institutions have facilitated knowledge transfer, experience exchange, and the development of specialised human with the Republic of Korea has served as the cornerstone for the successful development of the Barakah Nuclear Energy Plant. Over time, this partnership has expanded to include new investment opportunities in international ventures, including the deployment of Small Modular Reactors (SMRs).On the regulatory front, the UAE's Federal Authority for Nuclear Regulation (FANR) maintains agreements with its Korean counterpart covering joint inspections and capacity building. These ties are further strengthened through regular meetings to monitor technological advancements and regulatory the United States, the UAE has signed a series of strategic agreements aimed at advancing nuclear innovation and sustainability. These include a Memorandum of Understanding with the U.S. Department of Energy's Idaho National Laboratory (INL) to develop solutions for producing hydrogen, water, and steam at the Barakah Nuclear Energy UAE has also partnered with TerraPower to support the development of advanced reactors, and signed an MoU with General Atomics (GA), a leading US advanced technology solutions company, to collaborate on using advanced technologies and materials for nuclear energy recently, a partnership was announced with GE Vernova to jointly evaluate the deployment of the BWRX-300 Small Modular Reactor (SMR) technology part of its efforts to expand its network of strategic partnerships, the UAE is actively exploring avenues of cooperation with China in the development and operation of nuclear power plants, both domestically and in third countries. Areas of collaboration include the operation and maintenance of nuclear facilities, the development of high-temperature gas-cooled reactors, nuclear fuel supply chains, and investment parallel, FANR has strengthened its ties with counterpart agencies through agreements that enhance cooperation in nuclear safety, security, non-proliferation, and capacity building, further reinforcing the UAE's commitment to global nuclear a move that underscores the expanding international footprint of the UAE's nuclear programme, ENEC has signed a cooperation agreement with Romania. As part of the agreement, the UAE will support the development of a Small Modular Reactor (SMR) project in Romania, backed by an investment of $275 UAE continues to affirm its leadership as a regional model for countries pursuing nuclear energy as a strategic and the Kingdom of Saudi Arabia have concluded the first bilateral cooperation initiative in the nuclear regulatory industry. The cooperation follows the 2019 agreement on the Peaceful Use of Nuclear Energy between the two was followed by regulatory partnerships focused on exchanging expertise, enhancing legislative frameworks, and strengthening emergency preparedness. Further expanding its regional outreach, the UAE and Egypt have signed a Memorandum of Understanding (MoU) at COP28. The MoU sets the framework to explore opportunities for cooperation in advancing the use of peaceful nuclear energy and knowledge exchange.
Mint
5 days ago
- Business
- Mint
Forging a 21st-Century Green Superpower: India's Renewables, Storage, and Hydrogen Revolution
In a no-holds-barred assessment of India's transition to green energy, Mahesh Kolli, Founder and Group President,Greenko Group, and Vishal Mehta, India Leader, Energy Practice at BCG, chart India's pathway to building a low-carbon economy and achieving energy self-reliance. Their conversation is featured in Episode 2 of the India for the World podcast by Mint and BCG, which delves into India's ambitious energy transition goals, including the pursuit of 500 GW of renewables by 2030, the promise of green hydrogen, and the critical role of energy storage. Let's start with the good news: with hundreds of gigawatts of solar and wind potential spread across the country, and a robust, unified power-grid network (the third largest in the world), India has all the ingredients to scale low-carbon energy rapidly. In 2024 alone, the country installed more than 28 GW of solar and wind capacity, the third-highest addition worldwide, cementing its place as a global leader in the energy transition. What lies ahead is the chance to redefine India's role in the global energy value chain. For India, building on this strong foundation and moving from spending $250 billion on fossil-fuel imports to becoming a global supplier of low-carbon energy calls for a three-pronged approach. Integrating almost 400 GW of intermittent renewables—solar and wind—means synchronising generation with demand. Unlike conventional sources, solar and wind output fluctuates hourly and seasonally. India already experiences a 20–30 percent gap between daily peak and baseload demand, and similar swings across the year. Balancing these variations will require a portfolio of storage solutions. Rather than betting on a single technology, India must evaluate and deploy each option for the task at hand—for example, lithium-ion batteries for short-duration balancing, pumped-hydro for medium-term storage, and emerging long-duration chemistries for seasonal shifts. Keeping a system-level target of about INR 5/kWh for renewable-energy-plus-storage costs will mark the tipping point at which coal power can give way to intermittent renewables. India's vast solar potential—and well-honed execution capabilities—has made solar the hero of its renewables story, but grid stability demands equal emphasis on other low-carbon sources. First, wind capacity must keep pace, supplying complementary generation during non-solar hours. Second, innovative nuclear technologies, such as Small Modular Reactors (SMRs), can provide the firm baseload needed for a low-carbon power system. The Indian government's new target of 100 GW of nuclear power by 2047, along with the marquee decision to involve private players, can bring the same capital, technical know-how, and execution speed that catapulted solar. While storage and new low-carbon generation underpin energy self-reliance, green hydrogen can turn India from an energy importer into an exporter. This is underpinned by India's large annual consumption of Hydrogen which exceeds six million tonnes (already larger than that of Western Europe) and offers stable demand to de-risk projects. India's deep technological and operational expertise in derivatives such as ammonia and methanol will enable faster roll-out of large-scale integrated plants. With the National Green Hydrogen Mission kickstarting India's green hydrogen revolution by bringing down the cost of domestic green hydrogen to $2-3/ kg, India stands at the cusp of a unique opportunity to not only displace $15-20 billion of LNG imports, but to also establish itself as a supplier of low-carbon molecules, ergo low-carbon energy, to regions such as Japan, Korea and Europe. To sum up, India's energy sector is poised to embody 'Local for Global,' strengthening the nation's status as an indispensable trade partner worldwide. Indian businesses and the government must act now to seize this opportunity and lay the foundation for a green "Vishwaguru Bharat'. Note to readers: This article is part of Mint's paid consumer connect Initiative. Mint assumes no editorial involvement or responsibility for errors, omissions, or content accuracy. Want to get your story featured as above? click here!
Yahoo
27-05-2025
- Business
- Yahoo
Trump's nuclear energy orders would boost uranium prices, investments, experts say
By Mrinalika Roy (Reuters) -President Donald Trump's latest orders seeking to revitalize the U.S. nuclear energy industry could pull the uranium market out of its current lull and boost investor interest, industry experts said. Spot uranium prices have fallen about 30% from peaks hit in 2023 as institutional investors pulled out, spooked by recession fears and geopolitical instability. The prices briefly declined to $64.30 per pound this year after they touched a 14-year high of $82 in February last year amid a global clean energy push and expectations of tight supply. But the latest executive orders, signed on Friday, could reinvigorate uranium production in the U.S. to help meet surging power demand, industry insiders said. The demand surge is primarily driven by data centers that require massive energy to power the AI boom, and nuclear energy is an attractive option for Big tech firms such as Amazon, Google, Microsoft and Meta given its reliability and near-zero carbon footprint. Nuclear projects, however, have been facing rising costs and competition from natural gas plants. Vogtle, the last U.S. reactor to come online, was $16 billion over budget and delayed by several years. Curtis Moore, senior vice president at Energy Fuels, said the current weakness in uranium has made it difficult to advance new domestic projects, given a lack of investor interest - a sentiment echoed by other firms in the sector. Stocks of Major uranium-linked companies Energy Fuels, Uranium Energy Corp and Encore Energy plunged 13%, 23% and 53%, respectively, this year. Their shares rose between 17% and 23% on Friday after the orders were signed. "(The orders) will provide further confidence that the Federal funds already earmarked to support the domestic nuclear fuel supply chain (will) get deployed quickly which in turn should attract more private investment," said Nick Amicucci of Evercore ISI. Analysts see further upside, with incentive prices for new uranium production estimated above $100/lb. "Even before the AI boom and SMR (Small Modular Reactors) hype, the uranium outlook was strong," said Robert Crayfourd from Geiger Counter. Spot uranium prices are currently around $70/lb, with term contracts trending around $80/lb. "(The decision) paves the way for renewed contracting and long-term supply confidence," said Marco Mencini, head of research, Plenisfer Investments. Currently, U.S. utilities hold less than two years of inventory, with contracting down 40% in 2024. The executive orders include a directive for fast-tracking licenses for new reactors, which would in turn boost contracting by utilities. "This is essentially a wartime defense measure," said Justus Parmar of Fortuna Investments. "We produce only 1 million pounds of uranium annually against a consumption of 50 million pounds. Nuclear energy is no longer optional - it's essential." Industry insiders expect the policy to accelerate deployment of small modular reactors, encourage capital inflows and support reactor life extensions. Travis McPherson of NexGen Energy forecasts "a mad rush to secure uranium sources." "It will be like musical chairs where many will be left standing without a chair." Sign in to access your portfolio
