[ad_1]
Italian energy giant Enel is betting on small nuclear reactors through a partnership with Ansaldo, another Italian energy company, and Leonardo, a defense contractor. The new company is It is expected to be announced In the coming days.
Enel already has it deal With the start of operation of the Newcleo small modular reactor to develop the so-called fourth generation nuclear reactor technology. The new Enel-Ansaldo-Leonardo endeavor and the big money of its backers could put additional pressure on other small modular reactor (SMR) startups that have struggled to build power plants. Enel’s global revenues alone are equivalent to about 4% of Italy’s GDP.
A large number of new companies have emerged over the past decade to market smaller reactors. Most of today’s new reactors are large, capable of producing 1,000 megawatts of electricity, take years to build, and often exceed their budget estimates. On the other hand, SMR startups have bet their business on mass production and rapid installations.
However, none of these startups have built a reactor on a commercial scale. Many are still in the design phase, and those that have emerged have encountered roadblocks: Oklo’s permit application was denied by the Nuclear Regulatory Commission in 2022, and NuScale’s first contract was Canceled In January, the reverse merger of X-Energy to fail In 2023.
However, as demand for electricity for AI data centers rises, technology companies are betting that this new wave of nuclear companies can quench their thirst for power. Amazon, Microsoft, and Google have bet on nuclear energy in recent months.
This same logic drove Enel and its partners to seek new nuclear weapons. Enel CEO Flavio Cattaneo said the company received between 40 to 50 letters of interest Of the parties hoping to build data centers in Italy. Until recently, nuclear power in Italy was off the table, with Italian voters twice voting against nuclear power plants, once in 1987 and again in 2011. But the current government has said it plans to draft new rules. By the end of this year To lift the ban.
The three companies have been dealing in some form of cooperation for years. Leonardo is Working with Enel to generate more of its own power, while Enel and Ansaldo signed an agreement in March to explore SMR technology. Also in March, Nucleo Paired With Enel. (Ansaldo was previously owned by Leonardo, then known as Finmeccanica; both Divides In 2013.)
For now, Enel is moving cautiously: Cattaneo said SMR power plants will take about 10 to 15 years, which is in line with the timelines of many other SMR companies. Startups will have to contend with a competitor with deep pockets, but at least they will have a little breathing room.
[ad_2]