The Russian Prime Minister Mikhail Mishustin has recently announced that the government will invest close to ₽100 billion (€1.5bn) into developing new nuclear projects
The Russian Prime Minister Mikhail Mishustin has recently announced that the government will invest close to ₽100 billion (€1.5 bn) into developing new nuclear projects.
In a statement to the press, the Prime Minister stated: “We have repeatedly discussed the issues of transition to a new energy sector… It is known that Russia is the world leader in nuclear energy. About ₽40 billion [€4.5 bn] are planned for projects under the initiative to create a new nuclear power industry. For these purposes, it is planned to allocate about ₽56 billion [€6.4 bn] additionally from the National Wealth Fund.”
Deputy Prime Minister Alexander Novak has stated that by 2024 the country plans to commission more than 4000MWe of nuclear energy capacity under the New Nuclear Energy Project.
The New Nuclear Energy project includes the construction of low-capacity NPPs, the creation of a technological platform for waste-free energy with a closed fuel cycle, the development of a nuclear technology market and the creation of new nuclear fuel.
Commenting on NPPs, Novak said: “The implementation of this initiative will help maintain Russia’s global leadership in nuclear energy technologies, achieve growth in high-tech exports through new products, ensure an increase in the share of low-carbon generation in the country’s energy balance and the possibility of supplying energy to remote regions of our country.”
As part of this initiative, the construction of a fast neutron reactor and the world’s first plant for the production of new generation fuel began last year. The feasibility study for a small-capacity, ground-based nuclear power plant has also been completed.
By 2024, Russia plans to begin construction of an RITM-200 small nuclear reactor. The construction of small offshore power units for the Chukotka Autonomous Okrug will also begin. By 2030, the government is confident that Russia will have a 20% share of the world market for small-capacity nuclear power plants and 24% of the nuclear fuel market.
More about new nuclear projects here.