___________________________________________________________________________________________________________
Nuclear
Traditional nuclear plants vs SMRs
Traditional nuclear plants are often viewed with skepticism due to the lengthy construction process and significant costs , with notable examples of cost overruns . By contrast , the intention of SMRs is to standardize many aspects of the build process and shrink each unit size , meaning that units could be operational in two to three years , at a reduced cost .
Regulation - a consistent challenge in traditional nuclear plant development - also has the potential to be simplified given the lower safety risk associated with SMRs . There is joint effort from regulators to harmonize codes , standards , and domestic safety regulations in this space .
According to the International Atomic Energy Agency , there are currently almost 70 different SMR technologies under development , a significant jump from just a few years ago . The pipeline of potential capacity is substantial .
Unlocking SMRs ’ full potential
The SMR has widespread political support . The technology ’ s offering is compelling : carbon-free power is reliable , safe , more affordable , and can be built and deployed without the significant costs and complexity of traditional nuclear power . In a world where almost every investment decision will be measured against its climate impact and whether it is compatible with the Paris climate goals , the SMR could offer a solution without the drawbacks hobbling its larger predecessors . Yet , there are challenges to overcome . The champions of the SMR will have to work with all stakeholders , from governments and investors to the wider public , to ensure its potential can be fully unlocked . ■
Any views expressed in this publication are strictly those of the authors and should not be attributed in any way to White & Case LLP .
Andrew de Lotbinière McDougall KC
Kirsten Odynski
www . whitecase . com
Andrew de Lotbinière McDougall KC and Kirsten Odynski are partners at White & Case , a leading global law firm with lawyers in 44 offices in 30 countries . Among the first US-based law firms to establish a truly global presence , it provides counsel and representation in virtually every area of law that affects cross-border business . Its clients value both the breadth of its global footprint and the depth of its US , English , and local law capabilities .
energy-oil-gas . com 9