New reports highlight N-power as a key pillar of post-pandemic recovery

Hind Al Soulia - Riyadh - VIENNA — The Organization for Economic Co-operation and Development’s Nuclear Energy Agency (OECD-NEA) has Wednesday launched a series of policy briefs that examine nuclear energy’s role in the post-pandemic economic recovery. The policy briefs, to which World Nuclear Association contributed, have four themes: building resilience; job creation; cost-effective decarbonization; and unlocking finance.

With rising unemployment in the wake of the pandemic, the question of how to deliver socially equitable and affordable decarbonization, whilst preserving and developing national employment, should be at the core of all revitalization plans.

The policy briefs highlight that investment in nuclear energy is proven to create many highly skilled jobs, with every job in the nuclear industry, generating a further 3.2 jobs throughout society. Investments into nuclear also deliver widespread economic growth, along with strengthening energy independence and security of supply.

On the issue of cost and financing, sometimes cited as a key obstacle to the development of nuclear power, they note that there are a number of financing models that can be applied for large-scale infrastructure projects.

These models would be well-suited to support near-term nuclear new build projects and could in turn, significantly reduce the final cost of nuclear energy, thus helping ensure affordable and secure electricity supply.

Agneta Rising, director general of World Nuclear Association, welcomed the “timely publication” of the policy briefs “on what will be a defining issue for years to come”.

“Nuclear energy is a pillar of stability; nuclear reactors are the low-carbon backbone of many economies around the world, quietly operating in the background, providing incredible amounts of electricity so that we can focus on protecting lives and livelihoods during these uncertain and unsettling times,” Rising said.

“Investments into nuclear energy is a window of opportunity for governments to not only boost economic growth and creating many highly valued and largely local jobs, but also fulfilling our climate change commitments and building a clean and resilient electricity system.

"The global nuclear industry stands ready to do its part, with hundreds of projects under construction and various planning stages, to make sure the world that follows this pandemic is stronger, cleaner and more resilient than ever before.” — SG