Russia and the end of nuclear power

by John Quiggin on May 21, 2022

Of the 50-odd nuclear plants currently under construction, around 1 in 3 are Russian VVER designs, being built by Rosatom. Sanctions on the supply of all kinds of electronics mean that few of these will be completed on time, if ever. in promoting sales, Russia has relied heavily on concessional financing through Sberbank, which is also sanctioned. That’s going to make future sales just about impossible, and create big difficulties in fulfilling existing commitments.

With the exception of the EPR money-pit, the only remaining large reactor design still in the market is China’s Hualong One. Given the experience with Russia, buyers outside China may well be cautious about this option.

So, if there is any chance for new nuclear, it rests with Small Modular Reactors, none of which actually exist (there are small reactors, but they aren’t modular, that is, mass-produced).