Nuclear power in the United Arab Emirates
Encyclopedia
Despite being the third largest oil exporter in the world, United Arab Emirates
is installing nuclear powered plants to meet their electricity demand, which is estimated to increase from 15.5 GWe to over 40 GWe in 2020. In December, 2009 US and UAE signed a Section 123 Agreement
for peaceful nuclear cooperation. UAE has also signed Nuclear Non-Proliferation Treaty
(NPT), along with the additional protocol.
, was chosen as the site to build four APR-1400 nuclear reactors successively, with the first scheduled to start supplying electricity in 2017.
The plant's groundbreaking ceremony was held on 14 March 2011, including
Korean President Lee Myung-bak
.
Construction of the first unit is scheduled to begin in late 2012, though this may be delayed in the wake of the Japanese nuclear accident.
In 2011 Bloomberg
reported that following detailed finance agreements, the build cost was put at $30 billion: $10 billion equity, $10 billion export-credit agency debt, and $10 billion from bank and sovereign debt. South Korea may earn a further $20 billion from operation, maintenance and fuel supply contracts.
United Arab Emirates
The United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a...
is installing nuclear powered plants to meet their electricity demand, which is estimated to increase from 15.5 GWe to over 40 GWe in 2020. In December, 2009 US and UAE signed a Section 123 Agreement
Section 123 Agreement
Section 123 of the United States Atomic Energy Act of 1954, titled "Cooperation With Other Nations", establishes an agreement for cooperation as a prerequisite for nuclear deals between the US and any other nation. Such an agreement is called a 123 Agreement. To date, the U.S. has entered into...
for peaceful nuclear cooperation. UAE has also signed Nuclear Non-Proliferation Treaty
Nuclear Non-Proliferation Treaty
The Treaty on the Non-Proliferation of Nuclear Weapons, commonly known as the Non-Proliferation Treaty or NPT, is a landmark international treaty whose objective is to prevent the spread of nuclear weapons and weapons technology, to promote cooperation in the peaceful uses of nuclear energy and to...
(NPT), along with the additional protocol.
Braka nuclear power plant
In December 2009, Emirates Nuclear Energy Corporation (ENEC) awarded a coalition led by Korea Electric Power Corporation (KEPCO) a $20 billion bid to build the first nuclear power plant in the UAE. Braka, 23°59′5.77"N 52°17′1.39"E, about 50 km west of RuwaisRuwais
Al Ruwais is a town located some 240 kilometers west of Abu Dhabi city. The Ruwais industrial and housing complex has been developed by ADNOC as a major contributor to the national economy and represents a series of multi-million-dollar investments by the company...
, was chosen as the site to build four APR-1400 nuclear reactors successively, with the first scheduled to start supplying electricity in 2017.
The plant's groundbreaking ceremony was held on 14 March 2011, including
Korean President Lee Myung-bak
Lee Myung-bak
Lee Myung-bak is the President of South Korea. Prior to his presidency, he was the CEO of Hyundai Engineering and Construction and the mayor of Seoul. He is married to Kim Yoon-ok and has three daughters and one son. His older brother is Lee Sang-deuk, a South Korean politician. He attends the...
.
Construction of the first unit is scheduled to begin in late 2012, though this may be delayed in the wake of the Japanese nuclear accident.
In 2011 Bloomberg
Bloomberg
Bloomberg may refer to:* Michael Bloomberg , American businessman and founder of Bloomberg L.P.; politician and Mayor of New York City...
reported that following detailed finance agreements, the build cost was put at $30 billion: $10 billion equity, $10 billion export-credit agency debt, and $10 billion from bank and sovereign debt. South Korea may earn a further $20 billion from operation, maintenance and fuel supply contracts.