Italian government eyes investment in Newcleo
Innovative reactor developer Newcleo said it has "deep appreciation" for the Italian government's "strategic interest and support for the company" after two ministers said the government plans to invest in the company as part of the country's reintroduction of nuclear energy.
Following talks on the development of new-generation nuclear power, a joint statement was issued by Italy's Minister of the Environment and Energy Security Gilberto Pichetto Fratin and Minister of Enterprise and Made in Italy Adolfo Urso.
"The two ministers confirmed their full agreement on the government's strategic interest in Italy's active participation in the development of innovative technologies in the sector, with a particular focus on the projects promoted by Newcleo, a leading Italian company in the design of advanced third-generation and fourth-generation reactors," it said.
It continued: "In fact, the government intends to provide concrete support to strengthen the national industrial supply chain dedicated to innovative nuclear energy, recognising its fundamental importance in guaranteeing the country's energy security, environmental sustainability and technological competitiveness."
According to a Reuters report, the government "could invest, through one or more state-controlled entities, as much as EUR200 million (USD216 million) in Newcleo".
Paris-headquartered Newcleo said that it welcomes the interest shown, adding: "We are pleased that the government intends to strengthen Italy's industrial position in this sector through concrete support for our company."
According to Newcleo's delivery roadmap, the first non-nuclear pre-cursor prototype of its lead-cooled fast reactor (LFR) is expected to be ready by 2026 in Italy, the first reactor operational in France by the end of 2031, while the final investment decision for the first commercial power plant is expected around 2029.
Earlier this month, Newcleo announced it is to collaborate with Italian designer, manufacturer and installer of machinery and plants for the iron and steel industry Danieli Group on integrating Newcleo's LFRs with Danieli's steelmaking technology.
In late February, Italy's Council of Ministers approved a draft law calling for the government to adopt a series of legislative decrees to create the legal framework for the reintroduction of nuclear power, which was phased out following a referendum in 1987. The government said the text is aimed at "the inclusion of sustainable nuclear and fusion in the so-called 'Italian energy mix' and intervenes organically from an economic, social and environmental perspective, within the framework of European decarbonisation policies with a time horizon of 2050, consistently with the objectives of carbon neutrality and security of supply".
The draft law has been submitted to parliament for final approval.
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