PRWEB) September 22, 2010 With the world working hard to produce less energy based from fossil fuels, the nuclear industry have been taking huge steps forward to ensure that greener forms of energy are at the forefront of the power industry. However, the industry’s biggest hurdle is now edging closer… how do utilities go about funding their new build projects?
There is a pressing need to ensure that financing for new projects is achieved. Without external financing, the majority of projects simply will not go ahead. It is more important than ever for utilities to fully understand all financing options that are available – and how to secure project investment!
Nuclear Energy Insider spoke to Kenneth Hughey, Vice President, Nuclear Business Development at Entergy Nuclear who spoke about the financing problems that lie ahead for the US nuclear industry.
“With nuclear construction being a high priority for many US utilities, it is important to stop and consider financing and the costs associated with new build projects. Permitting and licensing are aspects of the construction process where utilities could easily spend $60-100million without having guaranteed financial backing to proceed with the full construction project. Consequently it is extremely important to understand the costs associated with these processes and to learn how to keep your costs down while at the same time reducing future project risk.”
There are many aspects of financing that need to be understood in order to proceed with new nuclear projects. Mr Hughey will be joining a plethora of other nuclear experts from the DOE, Southern Company, TVA, JBIC, Areva, Westinghouse, Coface, UBS and more on November 16-17 in Washington DC at the Nuclear Investment and Project Finance Conference (http://www.nuclearenergyinsider.com/finance)
Mr Hughey said, “the Nuclear Investment and Project Finance Conference will be very useful for utilities as it will address issues looking at financial implications of construction challenges which are hugely important to anyone contemplating a new build campaign”
For more information about the November meeting, simply go to http://www.nuclearenergyinsider.com/finance
Senior Industry Analyst
Nuclear Energy Insider