Italy Considers Nuclear Energy Revival With Advanced Reactors
Italy, which hasn't operated nuclear power plants since 1990, is contemplating a nuclear energy comeback. The council of ministers has proposed a bill to parliament, advocating for the reintroduction of nuclear energy, including advanced technologies like small modular reactors (SMR).
The bill, if passed, would authorize the use of 'modular and advanced' nuclear technologies. While no Italian company has been publicly assigned the task of developing and constructing future nuclear power plants, NuScale Power Corporation, a global SMR developer, could potentially benefit. Notably, NuScale is not yet involved in a concrete Italian project and has not commissioned a commercial reactor.
Currently, NuScale is incurring an annual loss of $124 million and expects its first profit only by 2030 at the earliest. However, on Monday, NuScale's stock surged by 5.1% following positive news from Italy about its nuclear power plans.
Italy's potential return to nuclear energy could stimulate investment in advanced reactor technologies. While NuScale Power Corporation might stand to gain, its role in Italy's nuclear future remains uncertain. The bill's passage and Italy's nuclear energy plans are still under consideration.
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