Nuclear Industries in Three Emerging Countries to Create Raft of New Project Opportunities

In our latest analysis we have identified three countries that are set to create a raft of project opportunities in the nuclear industry.

In our latest analysis we have identified three countries that are set to create a raft of project opportunities in the nuclear industry.

Five years on from the Fukushima disaster, a number of countries have started heavily investing in their nuclear industries - many for the first time - and are taking steps to increase the amount of energy generated by nuclear.

This move follows a period of uncertainty when the nuclear industry’s safety came into question. Since then, safety regulations have been tightened up in many countries, leading others to follow in their footsteps.

Qinshan Nuclear Power Plant, China

Procorre has identified the following emerging and well-established nuclear power markets:

1. Jordan - Currently, the country imports over 95 per cent of its energy. However, it hopes to generate nearly half of its own electricity using nuclear power by 2030, setting up committees to amend its nuclear legislation. This year, construction began on Jordan’s first nuclear reactor, Qasr Amra 1, which should be in operation by 2023. The country’s second nuclear reactor, Qasr Amra 2, is planned and expected to be in operation by 2024 – 2025. The total capacity of these reactors will be 1,060MW and there are plans to build a third and fourth reactor in the long term.

2. Vietnam - In the last few years, the majority of Vietnam’s energy supply has come from hydropower. However, due to rapid growth in demand for electricity, the country is currently facing an electricity shortage. Plans have been put in place to develop the country’s nuclear offering. It is expected that 5.7 per cent of the country’s electricity will come from nuclear power by 2030. With Russia financing 2,400MW of nuclear capacity from 2020, and Japan financing an additional 2,200MW of construction, Vietnam is well on its way to becoming a hotspot for consultants as well as investors.

3. China - Already a heavyweight in the nuclear wold, China has 34 nuclear reactors in operation as well as 20 nuclear reactors in the construction phase. The country currently generates roughly two per cent of its electricity from nuclear power –targeted to be six per cent by 2020. As well as opportunities for consultants in the traditional nuclear power roles, China is one of the front runners in nuclear fission research and development, recently achieving temperatures three times hotter than the sun in a quest to recreate fusion in a controlled environment.

There is a boom in technological developments both in countries with emerging nuclear capabilities and those more established countries, meaning the future of the industry is looking very promising. 

Despite a period of instability, the nuclear industry is picking itself up and creating a wealth of opportunities, both for businesses and energy contractors interested in working on nuclear projects across the globe.  

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