Many U.S. companies are interested in the Turkish market to develop small modular reactors, demand for which is set to increase globally, according to Justin Friedman, a senior advisor for commercial competitiveness in nuclear energy at the U.S. State Department
Small modular reactors (SMRs) not only have the ability to meet the needs for flexible power generation but can also replace aging fossil fuel-fired power plants, Friedman said in an interview with Anadolu Agency (AA) on Thursday.
SMRs, deployable either as single or multi-module plants, also offer the possibility of combining nuclear power with alternative energy sources, including renewables.
These small, medium-sized or modular reactors have been advocated by the International Atomic Energy Agency (IAEA) as a viable option to fulfill the need for flexible power generation in a wide range of applications and an extensive market.
"The list is long. Instead of coal power plants, SMRs can be an alternative. I think many people now understand that nuclear is part of the climate solution," Friedman said.
"With SMR, existing electricity networks can be improved at lower costs. The biggest advantage of SMRs is that they provide convenience in many applications. For example, uninterrupted electricity in the petrochemical industry, which has high energy needs, can be met with SMRs," he explained.
Because of the ability of SMRs to provide a base-load energy source that is needed for a healthy energy system, Friedman said that interest in small, medium-sized or modular reactors has been on the rise worldwide.
This has been witnessed by the 22 countries that signed the "Three Times Nuclear" by 2050 pledge to triple nuclear generation capacity by 2050 from the base year of 2020 at the COP 28 conference held in November.
With the vast experience in nuclear energy and SMR technology the U.S. has accumulated, many countries, including Poland, Czechia, Romania and Bulgaria, have availed of this knowledge transfer.
Furthermore, the U.S. Export-Import Bank (EXIM) has recently announced financing opportunities for the development of SMRs, Friedman said.
"You can develop SMRs with U.S. partners because there is financing available. It's a sign of our commitment to working together to help partners achieve their net zero goals," he added.
Furthermore, the "Sapporo 5" agreement, in which five countries – the U.S., U.K., Canada, Japan and France – decided at the Net Zero Nuclear Summit at COP28 in Dubai, United Arab Emirates, to mobilize $4.2 billion to develop the global nuclear supply chain, will allow the provision of a safe and available supply of enriched uranium to feed all these nuclear reactors.
The investments are set to improve uranium enrichment and conversion capacity up to 2027 and establish a secure and resilient global uranium market.
One of the main aims of developing this technology is to offer an alternative energy supply to avoid dependence on Russian energy resources over time.
Regarding Türkiye's involvement in this burgeoning industry, he confirmed that the U.S. and Türkiye, having had many fruitful and productive discussions last year, are now at the stage of developing a joint work plan, although he conceded that there is still much work to be done.