As the world’s top investment manager and financial market journalist, I bring you breaking news on the collaboration between the United States and Ukraine to develop a roadmap for the post-war energy grid. U.S. Energy Secretary Jennifer Granholm revealed that this plan will incorporate safe nuclear power technologies and renewable energy sources.
Due to Russian attacks on Ukraine’s power plants, the country has lost half of its generating capacity, leading to widespread shortages and blackouts. Granholm emphasized the importance of supporting Ukraine during this challenging time and preparing for the future by strengthening existing assets and designing a resilient energy grid.
The future grid of Ukraine may include micro-reactors, small modular reactors, solar and wind energy generation, and battery storage. Granholm highlighted the potential for new nuclear capacity in the grid as long as it prioritizes security.
Currently, Ukraine operates nine nuclear reactors at three plants, producing over 55% of the country’s electricity. Plans are underway to expand the nuclear sector, with construction expected to begin on four new reactors at the Khmelnytskyi nuclear power plant this summer or autumn. Energoatom, Ukraine’s state-owned nuclear power company, has partnered with Westinghouse for the construction of additional reactors.
Westinghouse’s corporate affairs vice-president, Margaret Cosentino, shared that discussions are ongoing for the deployment of nine AP1000 reactors in Ukraine. Although construction has not yet begun, they are preparing shovel-ready projects to implement as soon as the war concludes.
In conclusion, the collaboration between the United States and Ukraine to develop a resilient energy grid with a mix of nuclear and renewable energy sources is crucial for Ukraine’s energy security and stability. This partnership not only aims to address the current challenges faced by Ukraine but also sets the stage for a sustainable and secure energy future. Stay tuned for more updates on this developing story and its potential impact on global energy markets and investments.