Nuclear power in Europe

BRUSSELS, July 20 (Reuters) – Cash-strapped European Union governments will not have to provide fresh money in order to fill a 1.4 billion euro ($1.81 billion) funding gap in a project to commercialise nuclear fusion — the process that powers the sun.

Increased complexity and rising construction costs have seen the price tag for the International Thermonuclear Experimental Reactor (ITER) project rise to 16 billion euros ($20.76 billion), while the EU’s share has more than doubled. (more…)

A £15bn international bid to harness the fusion process that powers the Sun is facing a major funding crisis. Scientists have revealed that the cost of the International Thermonuclear Experiment Reactor (Iter) has trebled from its original £5bn price tag in the past three years. At the same time, financial crises have beset all the nations involved in the project. (more…)

The European Union is heading for a clash with other major economies over the timetable for building an experimental fusion reactor.

European governments want to slow down construction of the International Thermonuclear Experimental Reactor (ITER) because they are paying for the bulk of the construction costs and are concerned that the budget is spiralling out of control. Other countries involved in the ITER project are, however, strongly opposed to any kind of delay. (more…)

The world is about to enter a period of unprecedented investment in nuclear power. The combined threats of climate change, energy security and fears over the high prices and dwindling reserves of oil are forcing governments towards the nuclear option. The perception is that nuclear power is a carbon-free technology, that it breaks our reliance on oil and that it gives governments control over their own energy supply.

That looks dangerously overoptimistic, says Michael Dittmar, from the Swiss Federal Institute of Technology in Zurich who publishes the final chapter of an impressive four-part analysis of the global nuclear industry on the arXiv today. (more…)

The EU needs to invest more in research if it is to meet its climate-change targets.

The world will need to generate 50% of its electricity from renewable sources by 2050 to minimise climate-change impacts, the International Energy Agency (IEA) has said, an awesome challenge that once again underlines the importance of investing in the next generation of renewable energy. (more…)

The European Union and India are to co-operate more closely on civil nuclear research and development as a way of strengthening a partnership that has often been seen as falling short of its potential.

Nicolas Sarkozy, France’s president, and Manmohan Singh, India’s prime minister, announced the agreement on Monday at an EU­-India summit that also produced promises of closer co-ordination of climate change and energy security policies. (more…)

A LEADING member of the British atomic energy team involved in building the next generation reactor has urged Teesside engineers to get on board the programme, which could bring millions of pounds to the local economy.

Dan Mistry, fusion and industry manager for the British Atomic Energy Association, who will address a Partners4Engineering one-day event in Billingham on March 12, said: “The last thing we want is to lose this work to mainland Europe.” (more…)

Posted by Michael Kanellos

INDIAN WELLS, Calif.–Nuclear fusion will move from the lab to reality in a few years, a noted venture capitalist says.

“Within five years, large companies will start to think about building fusion reactors,” Wal van Lierop, CEO of Chrysalix Energy Venture Capital, said in an interview at the Clean Tech Investor Summit taking place here this week. In three to four years, scientists will demonstrate results that show that fusion has a 60 percent chance of success, he said.
(more…)