oleh admin | Mar 28, 2025 | nuclear energy, nuclear engineering, nuclear power plants, nuclear reactors, power plants
By Albert Oppong-Ansah, GNA
On March 27, Accra – The Ghana News Agency reported that Ghana has chosen the United States and China as suppliers for its initial nuclear power facilities; however, no official agreement has been finalized yet.
NuScale Power based in the United States and Regnum Technology Group, along with their Japanese partners, plan to construct Small Modular Reactors (SMRs). Meanwhile, China National Nuclear Corporation will be responsible for building a Large Reactor (LR).
Dr. Stephen Yamoah, the Executive Director of Nuclear Power Ghana, revealed this information to the Ghana News Agency during a media engagement in Accra on Wednesday.
He stated that the LR project will have a capability of 1,200 megawatts, whereas the SMR units will consist of 12 modules with each producing 77 megawatts, amounting to a combined total of 924 megawatts.
Dr. Yamoah stated that the LR would adopt a Build, Operate, and Transfer (BOT) financing approach, including local investment involvement, whereas the funding for the SMRs would be facilitated via Public-Private Partnerships (PPP).
Ghana has entered into a framework agreement with the suppliers, and specialists are collecting environmental and marine information to identify the site for the facility.
Mr. Archibold Buah-Kwofi, who serves as the Acting Director of the Nuclear Power Institute, emphasized the importance of having reliable and cost-effective power sources for the country’s progress. He pointed out that Ghana’s current energy supply predominantly depends on fossil fuels and hydropower, with only one percent coming from renewable resources.
“We must expedite the implementation of nuclear power to ensure our energy security,” he stated, emphasizing the necessity for strong regulatory systems and competent personnel.
It is anticipated that nuclear power will lessen dependence on fossil fuels, alleviate climate change impacts, and improve energy security.
The administration aims to incorporate one gigawatt of nuclear energy into the electricity grid by the year 2034.
The facility will aid in industrialization, offset the reduction in hydraulic resources, reduce electricity rates for businesses, facilitate water desalination, and generate employment opportunities.
The choice of vendors was made after an extensive procedure, beginning with 16 submissions in response to the government’s request.
A technical group, under the guidance of the Energy Ministry, narrowed down the options from five to select the final two.
Ghana’s pursuit of nuclear technology, which was halted due to a coup in the 1960s, was reignited in 2006 with assistance from the International Atomic Energy Agency (IAEA).
Several African countries are aiming for nuclear energy as a solution to their power issues and to boost economic development.
GNA
KAS
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oleh admin | Mar 27, 2025 | electric power, energy sector, korea national news, korean, power plants
The Korea Railroad Corporation (KORAIL) intends to construct a Combined Heat and Power (CHP) facility, often referred to as a cogeneration power plant, at its Goyang train yard by 2027 with the aim of cutting down on electricity expenses.
The government-owned railroad authority, utilizing electric power for its operation of KTX high-speed services as well as various local routes such as Lines 1, 3, and 4 within the greater Seoul region, has experienced a significant surge in their utility expenditures recently. In the previous fiscal year, they allocated approximately 580 billion Korean won ($400 million)—which constitutes about 8.7% of their total operational spending amounting to 6.64 trillion Korean won—towards energy consumption alone. This expense is anticipated to increase further by around an additional 60 billion Korean won during the current year.
South Korea has consistently maintained some of the lowest industrial electricity rates globally. Despite the state-owned Korea Electric Power Corporation (KEPCO) experiencing significant financial losses and accumulating debts because of the former President Moon Jae-in’s initiative to reduce reliance on nuclear power along with rising crude oil costs, the authorities have increased electricity tariffs just once. To avoid provoking substantial public backlash, particularly regarding residential electricity charges, the government opted to raise industrial electricity rates two times starting from May 2023.
Soaring electricity expenses are driving numerous businesses to seek out alternate options, ranging from constructing their own power stations to buying less expensive energy directly from the wholesale market, thus avoiding KEPCO.
KORAIL, which operates 98% of its trains using electric power, is one of the businesses heavily impacted by the increases in industrial electricity rates. Despite a reduction of 1.2% in overall train kilometers traveled over the last three years, the company has seen rising expenses for electricity.
During a media briefing on March 25, KORAIL CEO Han Moon-hee stated that increasing electrical expenses are exerting significant strain on the corporation’s finances. Additionally, he mentioned that the firm intends to develop an extensive system of internal power stations across the country as a strategy to cut down operational expenditures.
The nation’s top manufacturing companies, which have significant energy requirements—such as those involved in oil refinement, semiconductor production, and steel industries—are increasingly working towards building their own power facilities.
HD Hyundai Oilbank is constructing a 277-megawatt (MW) liquefied natural gas (LNG) power station close to its Seosan complex in South Chungcheong Province, scheduled for completion in 2027. Meanwhile, Hyundai Steel intends to develop a 499 MW LNG facility at their Dangjin site within the same region by 2028.
In 2023 and 2024, SK Hynix started operations for two liquefied natural gas (LNG) facilities with a total capacity of 585 MW in Cheongju and Icheon as a reaction to increasing electricity costs. Meanwhile, since 2021, Korea Zinc has been producing its own power using a 272.5 MW combined-cycle LNG facility located at its Onsan smelting site.
Currently facing an unparalleled slump, the petrochemical industry is seeking alternate power sources beyond those provided by KEPCO. SK Advanced, which operates as part of SK Gas within this sector, has submitted an application to KPX with intentions to buy electricity directly from the wholesale market for approximately 30 won per kilowatt-hour (kWh). This represents a significant saving compared to KEPCO’s present industrial charge of 185.5 won per kWh.
The direct purchasing system, launched in 2003, enables customers to acquire electricity directly from the wholesale market without going through KEPCO. This option remained mostly unused due to consistently low prices set by KEPCO for an extended period. However, following KEPCO’s decision to raise industrial electricity charges to 185.5 won per kWh last October, businesses are considering this rarely used mechanism again after more than two decades of dormancy.
The Korea Enterprise Federation (KEF) observed that although household electricity prices have climbed by 40.4 won per kilowatt-hour over the last three years, industrial tariffs have gone up by 80 won. “Rising energy expenses pose a significant risk to manufacturing output and business investments,” stated the KEF in an announcement made on March 25th. According to a recent poll conducted by the Korea Chamber of Commerce and Industry, approximately 40 percent of South Korean producers are contemplating shifting towards different means for their power needs.
The Ministry of Trade, Industry, and Energy (MOTIE) plans to approve a new regulation on March 28 that will outline the process for direct electricity procurement. Upon completion, this framework is anticipated to gain wider acceptance amongst businesses.
