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Rosatom has a chance to become known in UK’s energy market

April 06, 2012, 9:42 UTC+3

Rosatom’s Deputy Head Novikov confirmed to Itar-Tass that “the British market is very attractive” for the company

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MOSCOW, April 6 (Itar-Tass) —— Rosatom State Nuclear Energy Corporation has every chance to at least become known in the UK’s energy market, and the biggest goal to construct a nuclear power plant is highly probable, experts say following Rosatom’s plans to buy a share worth 24 billion dollars in Britain’s Horizon project

Germany’s RWE and E.ON have revised their views on investments in Great Britain’s nuclear energy and are ready to sell their shares in a joint venture. The reasons include deficit of financial sources, long-term investments and bigger expenses following Germany’s decision to refuse from nuclear energy. Conditions of the deal are not revealed. Under the Horizon project, by 2015 two nuclear power plants with the total capacity of up to six gigawatts are to be built in Wells and Gloucestershire.

Rosatom’s Deputy Head Sergei Novikov confirmed to Itar-Tass that “the British market is very attractive” for the company. Nowadays, Rosatom offers nuclear power plants with reactors of the third plus generation, which have most modern passive security systems. “This means that should the British project be implemented, it would answer most modern international security requirements and the IAEA norms, which is guaranteed by Rosatom.”

Deputy Head of Energocapital Investment Company Alexander Ignatyuk believes “Rosatom has all chances to become known in the UK energy market.” “The Russian nuclear corporation, if it manages to win the tender to replace the Horizon project’s German partners, may be a favourite of the competition first of all due to its flexibility in restructuring benefits,” he said.

The expert stressed that “in the case with Great Britain, we are speaking about entering a new political zone, where any expenses from those for PR to probable agreements on distribution of orders or profitability will allow Rosatom to demonstrate advantages of partnership with Rosatom in Western Europe.”

A leading expert of Finam Management Investment Company Dmitry Baranov is sure “Rosatom has offers for the United Kingdom.” He spoke about five advantages of Russia’s possible offer. “First of all, special attention to security in nuclear energy, which has been improving. Secondly, the huge valuable experience of over six decades. Thirdly, unique standards offered by Rosatom itself. Then, most advanced ideas and solutions, unique scientific, industrial and educational base, and, finally, a complex approach: from design and construction to its exploitation and closure after the term,” he said.

The expert believe it is a big advantage of Rosatom, that the company is ready to organise financing of the project, which may be very attractive for the client, as the German companies are quitting the project exactly because of financial problems.


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