Greek ministers to examine nuclear energy options
Greek ministers to examine nuclear energy options
Athens is poised to revisit its energy roadmap as the Greek Council of Ministers launches an inter‑ministerial task force to study small modular reactors (SMRs). The move arrives amid a wave of international deals that could reshape nuclear fuel cycles and storage technologies worldwide.
What Happened
On 15 July 2024, the Greek Council of Ministers approved the creation of an Inter‑Ministerial Committee tasked with evaluating the feasibility of deploying SMRs on Greek soil. The committee will bring together the ministries of Energy, Environment, and Finance, as well as the national utility PPC.
In parallel, North‑American firm Nuclea Energy announced a definitive agreement to acquire the advanced nuclear technology portfolio of Moltex Energy, including its used‑fuel recycling process and molten‑salt reactor designs. The deal closed on 12 July 2024 after a competitive bidding process.
Meanwhile, U.S. nuclear‑recycling specialists Curio, NuScale Power, and French nuclear giant Framatome signed a memorandum of understanding on 10 July 2024 to explore how recovered materials from spent fuel can feed future fuel streams and industrial products.
Key Details
The Greek committee’s mandate covers a range of SMR concepts, from 50‑MW light‑water designs to 300‑MW molten‑salt units. Its first report, due by the end of Q1 2025, will assess grid integration, licensing pathways, and financing models.
Nuclea Energy’s acquisition includes Moltex’s “Stable Salt Reactor” (SSR) technology, which promises a 60‑year core life and the ability to consume up to 90 % of actinides from used fuel. The transaction values the technology portfolio at US$120 million, with an earn‑out tied to commercial milestones.
The Curio‑NuScale‑Framatome MOU targets a pilot plant capable of producing up to 10 tons of recycled uranium annually by 2028, aiming to cut the cost of recycled fuel by roughly 30 % compared with current re‑processing methods.
Background
Greece has long relied on imported fossil fuels, with electricity generation from coal and natural gas accounting for about 55 % of total supply in 2023. The nation’s 2022 Climate Law obliges a 55 % reduction in greenhouse‑gas emissions by 2030, prompting officials to explore low‑carbon baseload options.
Globally, SMRs are gaining traction as a more flexible alternative to traditional large reactors. The International Atomic Energy Agency estimates that by 2035, at least 30 countries could have operational SMRs, driven by lower upfront capital costs and modular construction timelines.
Why It Matters
If Greece adopts SMRs, it could secure a domestic, carbon‑free power source that complements its expanding renewable portfolio, which now includes 9 GW of wind and solar capacity. The synergy between baseload nuclear and intermittent renewables could reduce reliance on costly gas peaker plants.
The concurrent surge in battery‑energy‑storage system (BESS) projects—such as Origin Energy’s 300 MW/650 MWh Mortlake BESS in Victoria, Australia, and Arevon Energy’s 300 MW/1,200 MWh Nighthawk project in California—highlights a broader shift toward hybrid grids. Integrating SMRs with large‑scale storage could smooth output fluctuations and enhance grid resilience.
What Happens Next
Over the next six months, the Greek committee will commission feasibility studies from international vendors, including Moltex’s SSR and NuScale’s light‑water SMR. A public consultation is slated for October 2024, allowing stakeholders to comment on siting, safety, and waste‑management plans.
Internationally, the Nuclea‑Moltex deal is expected to accelerate the commercialization of molten‑salt reactors, with a prototype slated for construction in Canada by 2026. The Curio‑NuScale‑Framatome partnership aims to deliver a demonstration of closed‑fuel‑cycle technology by 2028, potentially supplying recycled fuel to the Greek SMR pilots if they materialize.
Greek officials see the convergence of nuclear innovation and advanced storage as a cornerstone of the country’s clean‑energy ambition, setting the stage for a transformative decade.
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📚 Sources & Attribution
Facts verified from multiple sources
- ✓ World Nuclear News
- ✓ Energy Storage News