Thursday, June 20, 2024

ENEC signs MoU with ORLEN Synthos Green Energy to develop small modular reactors

Date:

Emirates Nuclear Energy Corporation (ENEC) and ORLEN Synthos Green Energy (OSGE) have announced the signing of a Memorandum of Understanding (MoU) to support the decarbonisation of the Polish and European power sector and industry. Modular Reactors (SMRs).

ENEC’s expertise supports the development of nuclear power as a source of abundant clean electricity to meet the twin challenges of energy security and climate change by developing and operating the Baraka Nuclear Power Plant.

The MoU aims to provide both parties with an enabling framework for the development of SMRs based on GE-Hitachi Nuclear Power’s BWRX-300 SMR technology in Poland and the United Kingdom and Central and Eastern Europe. Growing demand for electricity. Mohammed Ibrahim Al Hammadi, Managing Director and CEO of ENEC, and Rafal Gazprove, CEO of ORLEN Synthos Green Energy, signed the framework agreement during the 2023 World Nuclear Energy Summit in London, UK.

Nuclear energy has been recognized by both the United Arab Emirates and Poland as an essential clean energy resource in securing the stability of the energy sector. OSGE seeks to develop a nuclear power system that can meet energy sector challenges through increased use of advanced nuclear technologies such as fourth-generation SMRs.

Al Hammadi said, “This MoU sets the stage for our plans to accelerate nuclear power globally and provides our expertise in advancing the clean energy transition to achieve net zero. The development of the Baraka plant in the UAE is a catalyst for innovation and R&D in new areas, including SMRs, which we are currently exploring as part of our future growth opportunities, along with other next-generation technologies. Globally, there is an urgent need to increase nuclear capacity if we are to meet climate goals. We look forward to working with ORLEN Synthos Green Energy to support decarbonisation in Poland and the rest of Europe.

See also  The dollar is falling amid the possibility that the US Federal Reserve will hold off on raising interest rates

ENEC and OSGE will work together to identify specific areas of mutual cooperation. ENEC will share experience learned from the development of the Baraka plant, its experience in building operational readiness and stakeholder management, including developing business structures with technology vendors and other contractors.

“A partnership with ENEC marks another milestone for ORLEN Synthos Green Energy. I am very pleased that our project to install BWRX-300 reactors in Poland, CEE and the UK is now supported by such an excellent partner. ENEC brings unique experience. In line with the highest nuclear industry safety and quality standards “I am happy that ENEC recognizes the important development of SMR for the future of nuclear power, in the construction of nuclear power plants, delivering projects on time and on budget. I truly believe that thanks to this cooperation, we are making a significant step forward in the development of SMR worldwide,” said Rafał Kasprów.

Playing a significant role in the UAE’s clean energy transition, the Barakah plant is now one unit away from full-scale operations and realizes ENEC’s commitment to accelerate decarbonisation in the electricity sector by producing up to 25 percent of the UAE’s electricity needs. Barakah provides significant environmental benefits to the nation today, for the next 60 years and beyond, and will be showcased at COP28 in Dubai, UAE in November. Barakah, the Arab world’s first multi-unit power plant, already produces more than 80 percent of Abu Dhabi Emirate’s clean electricity, while preventing millions of tons of carbon emissions.

OSGE plays a key role in the deep decarbonization process facing Poland. The company wants to deploy the first SMR in the country by the end of the decade, with the next units ready in the 2030s. OSGE, as a partner of GE-Hitachi, has exclusive rights to use BWRX-300 technology in Poland. To successfully implement the strategy of developing SMRs in Poland, OSGE is collaborating with Canada – Ontario Power Generation (OPG) and US – Tennessee Valley Authority (TVA).

See also  4 new product lines for the manufacture of aircraft parts
Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

Share post:

Popular

More like this
Related

The easiest way to access the best UAE stocks

The most common way to invest in the UAE...

The Rising Demand for Model Ships in Dubai

Dubai, known for its stunning architecture and vibrant economy,...

Exhibition Stand Builders in Dubai

Dubai, a global hub for trade and commerce, is...

Unlocking the Power of Booking Engines in the Hospitality Industry

In an era dominated by technology, the hospitality industry...