Tuesday 24 February 2009

The rush to nuclear power

The Economist a while ago descibed a power struggle with France leading the way in a global revival of nuclear energy. ....and now it's Italy making a deal with France to step up Italian nuclear power. India too seems to have signed up with the 'French nuclear giant Areva' for six new nuclear reactors and we're told in this article that
The Areva-designed pressurized water reactors, which are meant to replace aging reactors around the world whose designs date from decades ago, are already under construction in Finland, France and China. Areva also has plans to build the new reactors in Britain and the United States
Although this has obviously been developing over quite a long time the press coverage does make it feel like there's almost a rush to get on the nuclear power bandwagon. There's a lot riding on this technology - hope it can stand the test of time. What's changed in the past few weeks? Is this because nuclear power has suddenly gained political acceptability and 'green' credentials in the context of climate change and those concerned have become convinced that it's the only way to go? Or are there other political and economic drivers? I can see that some nuclear power might have to be part of our future but what does this mean for investment in renewables?

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