07/11 Closing Prices / revised 07/12/2024 07:42 GMT |        07/11 OPEC Basket   $86.11   +$0.71 cents 07/11 Mexico Basket (MME) $76.61   +$0.44 cents   05/31 Venezuela Basket (Merey)  $70 45   -$4.36 cents| 07/11 NYMEX WTI  August CLQ24  $82.62 +$0.52 cents  | 07/11 ICE Brent Sept  BRNU24  $85.40 +$0.32 cents  | 07/11 NYMEX Gasoline Aug RBQ24  $2.52 +0.6 %  |  07/11 NYMEX  Heating Oil  Aug  RBQ 24    $2.52  -0.5% | 07/11 Natural Gas August NGQ 24   $2.27  -2.6%  | 07/05 Active U.S. Rig Count (Oil & Gas)    585  +4  | 07/12 USD/MXN Mexican Peso   17.7730 (data live)  | 07/12 EUR/USD  1.0869 (data live)  | 07/12 US/Bs. (Bolivar)   $36.53030000 (data BCV)

Slovenia Pushes on With Pricey Nuclear Project to Phase Out Coal – Bloomberg

The Krsko nuclear power plant.Photographer: Stringer/AFP
The Krsko nuclear power plant. (AFP)

Jan Bratanic, Bloomberg News

LJUBLJANA, Slovenija
EnergiesNet.com 10 18 2023

Slovenia will push forward with plans to build its second nuclear power plant, its largest and most expensive infrastructure project to date, as it aims to phase out coal by 2033.

“It won’t come cheap,” Dejan Paravan, Chief Executive Officer GEN energija doo., said in an interview. Initial estimates from 2006 put the project cost at €2 billion ($2.1 billion). The final figure will be significantly higher. Asked if the figure was likely to exceed €10 billion, he said: “Yes, we are talking about such magnitude.”

As climate change and energy security concerns revive interest in nuclear power, Slovenia’s government created a special working group in September to move ahead with the so-called JEK2 plant. The current target date for its connection to the grid is 2038. 

Still, uncertainties remain, including a referendum in coming years, as the government looks to rally public opinion in favor of the pricey project. Paravan wouldn’t commit to a deadline and globally it’s not unusual for nuclear projects of this scale to overshoot target dates and budgets.

GEN, which is 100% publicly owned, has decided to more than double the project size to a maximum capacity of 2,400 megawatts from 1,100 megawatts. The firm plans to submit its request to amend the spatial plan in 2024, Paravan said. 

A final investment decision is likely by 2028, he said. “Once the contracts are signed, there will be no going back.”

America’s Westinghouse Electric Co., France’s EDF and the Korea Hydro & Nuclear Power Co Ltd. are among the potential suppliers for the power plant. 

The project is too big for GEN to finance it alone. “Slovenian businesses and different stakeholders from surrounding countries have already expressed interest,” Paravan said. The country’s only other nuclear power plant, in Krsko, was built with the help of Croatia, which remains a 50% owner.

Slovenia’s electricity consumption is set to double by 2050. With plans to phase out coal by 2033 and hydro potential tapped out, “nuclear power is definitely part of the solution,” Paravan said.

Currently coal and other fossil fuels make up 25.5% of the country’s power mix and nuclear 43.6% — half of which goes to Croatia, according to 2022 data from the state Energy Agency

bloomberg.com 10 18 2023

Share this news

Support EnergiesNet.com

By Elio Ohep · Launched in 1999 under Petroleumworld.com

Information & News on Latin America’s Energy, Oil, Gas, Renewables, Climate, Technology, Politics and Social issues

Contact : editor@petroleuworld.com


CopyRight©1999-2021, EnergiesNet.com™  / Elio Ohep – All rights reserved
 

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission fromPetroleumworld or the copyright owner of the material.

 
 
Scroll to Top