Nuclear Power Market Recovers

The global market for nuclear power plants is seen recovering, and two Japanese-linked firms are hoping to lead the rebound.

In energy-dependent Japan, nuclear plant utilization at 10 power firms last year stood near 70 percent, while U.S. demand for new plants has been limited due to moderation in fossil fuel prices.

Japan is the world’s No. 3 nuclear generator, after the United States and France.

Hitachi and GE joined forces in 2007 in the U.S. and Japan to tap growing demand, with each owning a majority stake in joint ventures in their own country.

The firms are aiming for 38 nuclear plant orders, while GE Hitachi Nuclear Energy expects new plant construction this decade from northern Europe because of commitments to reduce CO2 emissions.

The JVs are currently building two plants in Japan and two in Taiwan.

Meanwhile, Toshiba’s Westinghouse Electric unit reportedly is considering co-development of a nuclear reactor in China.

The project would develop a pressurized-water reactor capable of generating enough energy to power 500,000 Japanese homes, the Nikkei business daily said.

Foto: NTDTV