Saudi Arabia Fast-Tracks Nuclear Power

Uranium (Nuclear Minerals) / Nuclear Power - Economics, Design, & Industry

Date posted: 09/12/14

Dr. Conca reports that last Tuesday, energy officials in Saudi Arabia announced plans to become a major nuclear energy state, assuring the reactors would be used only for peaceful purposes. They intend to move fast, beginning construction by year end. The Saudi Royal Family hopes that nuclear will provide 15 per cent of the Kingdom power - 18 GWe - within 20 years, together with a similar 15 per cent - 40 GWe - from solar - WNN. They are planning to invest 80 billion dollars to build more than a dozen nuclear power plants as fast as possible, intending for the first reactor to come online in only eight years. Investment in solar for the same energy production will take about 240 billion dollars in investment, although breakthrough technologies in the next decade should cut that cost in half.