Nuclear Giants Join Forces for Global Surge in Reactor Construction

Strategic Insights -

As the world's largest nuclear-power companies grapple with aging fleets and flagging demand, two industry leaders have formed a strategic partnership to tackle the growing need for new reactors. Montreal-based engineering company AtkinsRéalis Group Inc. has joined forces with French nuclear giant Électricité de France (EDF) to supply power-plant equipment and provide engineering support for what they hope will be a global surge in reactor construction.

According to Joe St. Julian, president of AtkinsRéalis's nuclear operations, his company is preparing for a boom in demand, with up to 1,000 new reactors expected to be built by mid-century. The new partnership will enable AtkinsRéalis to tap into EDF's expertise and resources, which will allow the company to expand its reach into new markets. "We don't know if we're going to need them or their capacity in engineering," St. Julian said of EDF, "but if we do, we want to have them as a readily available partner."

Key Takeaways:

  • The partnership between AtkinsRéalis and EDF is aimed at capitalizing on a potential surge in global reactor construction, with up to 1,000 new reactors expected to be built by 2050.
  • The two companies will work together to supply power-plant equipment, such as turbines, and provide engineering support for new reactor projects.
  • AtkinsRéalis holds an exclusive license for Canada's Candu reactor, which it is marketing in partnership with a proposed 1,000-megawatt model called the Monark.
  • EDF operates the largest reactor fleet of any single company worldwide, with 57 reactors in France and nine in Britain.
  • The European Pressurized Reactor (EPR) being built at Hinkley Point and Sizewell is much larger than the Monark, at 1,600 megawatts.
  • Ontario Power Generation and EDF are exploring the feasibility of building EPRs in Canada.

Statistics:

  • Up to 1,000 new reactors are expected to be built by 2050, according to Joe St. Julian, president of AtkinsRéalis's nuclear operations.
  • EDF operates the largest reactor fleet of any single company worldwide, with 66 reactors in France and Britain combined.
  • The European Pressurized Reactor (EPR) being built at Hinkley Point and Sizewell has a capacity of 1,600 megawatts.
  • Investment in nuclear power has grown by half over the past five years, according to the International Energy Agency.
  • EDF's reactor fleet is aging, with France's only new plant this century, the 1.65-gigawatt Flamanville Unit 3, connected to the grid in December.

Sources:

  • Globe and Mail article: "Nuclear giants join forces for global surge in reactor construction"
  • International Energy Agency report: "Nuclear Power and the Energy Transition"
  • Mycle Schneider Consulting report: "Nuclear Industry Report"