March 5, 2024
PRESS RELEASES

ENEC signs MOUs with Moltex FLEX and Ultrasafe Nuclear Corporation

The Emirates Nuclear Energy Corporation (ENEC) has announced the signing of Memorandums of Understanding (MoU) with nuclear energy industry leaders including Moltex FLEX and Ultrasafe Nuclear Corporation. The new agreements will aim to fast-track the expansion of nuclear capacity around the world through the development of Small Modular Reactor (SMR) technologies. His Excellency Mohamed Al Hammadi, Managing Director and Chief Executive Officer of ENEC, signed the Moltex FLEX MoU with David Landon, Chief Executive Officer, Moltex FLEX. The other MoU was signed by Ahmed Al Mazrouei, Nuclear Research and Development Vice President at Emirates Nuclear Energy Corporation and Dr Paolo Venneri, Executive Vice President of Advanced Technologies Group at Ultrasafe Nuclear Corporation. The collaborations will further elevate the vital role of nuclear energy for accelerating decarbonization of heavy industries and tackling climate change.

The MoUs signed at COP28 form part of the recently launched ENEC ADVANCE Program, an initiative that focuses on harnessing the most advanced new nuclear energy technology solutions from around the globe. Having successfully developed the Barakah Nuclear Energy Plant, ENEC is utilizing the expertise gained and the abundant clean electricity it generates, to drive innovation and R&D in new clean energy solutions. This includes next generation reactors, SMRS, and clean molecule production like hydrogen. ENEC and the MoU partners will focus on the potential development of new SMR technologies which will help fast-track the transition to low-carbon energy systems.

HE Mohamed Al Hammadi commented: “These MoUs reaffirm our commitment to advancing progress towards Net Zero nuclear globally whilst further boosting the UAE’s R&D and innovation efforts. The momentum for a new era for nuclear energy is tangible, as more nations recognize the crucial role nuclear energy plays as a proven solution to boosting domestic energy security and in parallel decarbonizing heavy industries. These new international partnerships will support the potential development of new nuclear programs through cutting-edge technology. COP28 was the ideal platform for forging such collaborations as we all recognize globally that there is an urgent need to ramp up nuclear capacity if we are to meet climate goals and achieve Net Zero.

“As a global leader in advanced nuclear technologies, the UAE has welcomed other nations at COP28 to learn how the nation has rapidly decarbonized its power grid through the Barakah Nuclear Energy Plant. We look forward to effective international engagement on SMRs to support the UAE’s decarbonization pathway, in addition to supporting responsible nations to develop their own new nuclear projects and take a significant step forward to support the global goal of tripling global nuclear capacity by 2050,” added HE Al Hammadi.

The Barakah Plant, the largest single source of clean electricity in the UAE and Arab world, is widely regarded as a global benchmark for new nuclear projects and one of the most cost and time-efficient in recent history. Through ENEC ADVANCE Program, ENEC is now focused on innovation on advanced reactors and SMRs that can be co-located with critical infrastructure and provide a reliable supply of clean electricity, as well as clean steam, heat and hydrogen. SMRs are easier to manufacture, thereby contributing greater economies of scale, in addition to being flexible, safe and efficient to deploy. These new MoUs under ENEC ADVANCE Program will further develop the clean energy economy in the UAE and boost revenue streams, strengthening green premiums for off-takers and enable users to charge a green premium for their end products.

Playing a leading role in the UAE’s climate action efforts, the Barakah Plant is now one unit away from full-fleet operations and realizing ENEC’s commitment of generating up to 25% of the UAE’s electricity demand. The Plant already generates more than 80 percent of Abu Dhabi Emirate’s clean electricity and will generate 40 TWh annually once fully operational, while preventing the release of more than 22.4 million tons of carbon emissions.

Last Updated on 3 months by Middle East News 247

    Middle East News 247

    Middle East News 247

    Middle East News 247 delivers trending business and lifestyle news and essential infotainment for, and from the Middle East region, with key focus on the GCC nations: United Arab Emirates (UAE), Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman.
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