European Tiny Modular Reactor Deal Starts With Absurdly Expensive Electricity
between the efficiencies of big thermal generation and modularity, and I don’t think they are going to find it.
The first thing that caught my eye was the MW capacity. 34 reactors of 20 MW each only adds up to 680 MW of nameplate capacity. That’s smaller than a billion dollar offshore wind farm that takes ten months to build.Nuclear nameplate capacities are usually reported with units of MWe, or megawatts of electricity. That’s because their thermal energy output is perhaps three times the size, but meaningless, as all we care about is the electricity.
The second thing that caught my attention was the eye-watering price tag, $19 billion. That seems really high even for nuclear, and especially high for only 680 MW. How does this compare? Let’s pick the British Hinkley Point C nuclear expansion, one of the most expensive and slowest in the developed world. It is so expensive that the developers demanded and got about $150 per MWh wholesale guaranteed for 35 years with inflation bumps. This when offshore wind energy is running aroundand onshore wind and solar are running around $30 per MWh wholesale. Yeah, Hinkley is absurdly expensive electricity.
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