Commercial nuclear energy companies are facing an intensified challenge from the “China-Russia Tandem” as the two countries leverage nuclear energy projects to claim more territory along Beijing’s Belt and Road Initiative than they could take through military force.
Of 90 GWs in nuclear capacity under construction or in serious negotiations for financing, e.g. already sited, Chinese and Russian state-owned entities are developing more than half of the projects. In contrast, the American nuclear energy industry has less than a 5% market share.
The U.S., South Korea, France, and other nuclear suppliers cannot regrow market shares alone; a consortium-based commercial model is required to compete against Russia and China. In fact, even the Vogtle expansion project in Georgia could not be built without Doosan making the large reactor vessels and steam generators.
Click here to read analysis from Andrew Paterson, Principal in Energy at Environmental Business International, on the nuclear energy opportunities in challenging Russia and China.