The draft also shows thatMuch of the gap will be filled by nuclear power; Coal and natural gas have not changed much from the previous version.
The Energy Department said the proposal would still need to go through government discussions, a parliamentary vote and a public hearing before it can be finalized. If the draft is finalized, it would mark a turning point for the South Korean government, where Yoon’s government is betting on nuclear power rather than renewables to meet climate goals.
Yin Xiyue is a staunch supporter of nuclear energy, a departure from the approach of the previous Moon Jae-in administration. Yin Xiyue has repeatedly said that South Korea should become a major exporter of nuclear equipment and technology, and integrate atomic and renewable energy to promote carbon neutrality.
Last week, the Financial Associated Press reported that Korea Hydro and Nuclear Power Corporation (KHNP) signed a 3 trillion won (about 2.25 billion U.S. dollars) construction and supply contract with a Russian state atomic energy company to jointly develop Egypt’s first nuclear power plant. project.
As planned, the plant will have four VVER-1200 reactors, making Egypt the only country in Africa to have “3+” generation reactors.
Global nuclear power recovery?
After the Fukushima nuclear disaster in 2011, global interest in nuclear energy declined. But after the Russian-Ukrainian conflict, global interest in nuclear energy has revived amid growing gas and oil shortages.
Earlier, it was reported that the Japanese government is discussing extending the current operating period of nuclear power plants for up to 60 years. Fumio Kishida said last week that he asked to speed up discussions on the development of next-generation nuclear power plants and an extension of the operating period of nuclear power plants.
The International Energy Agency (IEA) welcomed Japan’s renewed embrace of nuclear energy, saying it was “very good and encouraging news” that could help cool down the hot international gas market.
On Sunday (August 28), the California government resisted pressure from environmental groups to introduce a bill to extend the life of the state’s last nuclear power plant to help smooth the transition from fossil fuels to renewable energy.
Separately, India’s largest power producer is looking to develop two large nuclear power projects, where 70% of the country’s electricity is currently generated from coal and only about 3% from nuclear. Prime Minister Narendra Modi aims to more than triple the number of nuclear power plants in the next decade.