Wednesday, September 3, 2014

Argentina and China sign deal for CANDU 6 type Atucha III

"According to sources close to these meetings, the deal involves a founding estimated in two billion dollars, aimed for Chinese products and services, including a third a country, and 32 billion dollars in Argentine origin suppliers.
The new nuclear plant will be run via a CANDU reactor through natural uranium and heavy water, and is expected to reach a power capacity close to 800 megavolts. The complex will be built in Lima town, Buenos Aires province."
More information is in a Spanish language report. From the Google translation:

recently signed the Commercial Framework Agreement between the authorities of Nuclear Argentina SA (NA-SA) and the China National Nuclear Corporation (CNNC, for its acronym in English) for the construction contract of the 4th Central Nuclear - Atucha III "National Project." In that agreement it was decided that NA-SA, as the owner of the new plant and the project architect, will be responsible for the direction of the pre-project, design, construction, commissioning of and the subsequent commercial operation, while CNNC assume the support of engineering design CANDU 6 type and services required for this stage...
A July 27th post on this blog noted an new memorandum of understanding (MOU) between CNNC and CANDU Energy parent SNC Lavalin, which reportedly, "provides a framework for collaboration between SNC-Lavalin and CNNC on uranium mining projects in China, and the pursuit of international project opportunities in various high-growth sectors and markets."

My July post noted that the nuclear units are, contrary to reports from a small green perspective, valued for the ability to displace oil - with the recently connected Atucha 2 expected to "avoid the burning of oil worth some $1.5 billion per year." This attribute was notable in other new build nuclear news today, Saudis update ambitious nuclear energy plans


There is additional news re: memorandum of understanding and China's companies constructing CANDU type reactors in foreign markets.
China and Romania further deepened their ties in the nuclear power sector this week.
Romania Insider reported Monday that officials from both countries soon planned to sign an intergovernmental agreement on the peaceful use of nuclear energy. The pact comes as Romanian Prime Minister Victor Ponta visited China this week and encouraged further investment in his country, including in the nuclear power sector.
I noted in that earlier post the Romania builds are to be a subsidiary of China General Nuclear (CGN).
Guess what - more news regarding CGN.
China General Nuclear plans $2 bn Hong Kong IPO
China General Nuclear Power, the country's largest nuclear power producer, has filed for an initial public offering in Hong Kong ...
Beijing is also keen to export its own nuclear expertise abroad. In the last two months alone, Chinese nuclear companies have announced partnership deals to build new reactors in Argentina and Romania.
Earlier this year China also won the right to own and operate new nuclear power stations in Britain.
Both CNNC and CGN are reportedly minority stakeholders in the contracted Hinkley Point project.

Currently not known to be related is the proposal to construct CANDU EC6 reactors as the central element to deal with the U.K.'s plutonium stocks.
 -see Candu Energy: Delivering Nuclear Power in Partnership with the UK

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