Norway plans to develop nuclear energy

The Norwegian government on Friday appointed a committee to examine whether the country should develop nuclear energy as a source of electricity.

Kristin Halvorsen, former finance minister and currently director of the Center for International Climate and Environment Research in Oslo, will lead the committee, which is expected to submit its report with its findings by April 1, 2026.

Norway abandoned the idea of ​​nuclear energy as a source of energy in the 1970s, but is now revisiting the idea.

The issue of nuclear power in the country is back on the agenda for Norway, due to the need for stable, emissions-free energy that can help meet the growing demand for electricity and projects private companies to set up nuclear energy production in collaboration with certain Norwegian countries. municipalities, Norwegian Energy Minister Terje Aasland said in a statement.

The newly established committee will need to carry out a thorough review and assessment of all aspects of possible nuclear energy development in Norway, the government noted.

Currently, hydropower accounts for around 88% of Norway’s electricity generation capacity, with wind farms accounting for a further 11%.

Norway joins many other Western countries that have doubled their nuclear power since the Russian invasion of Ukraine and the energy crisis. Since the start of the war and a series of Western sanctions disrupting the energy market, nuclear power has regained great support in Europe as a key aspect of reaching net zero by 2050. Many Western countries, at the notable exception of Germany. , recognized that nuclear power generation would help them achieve their net-zero emissions goals.

Norway’s neighbor Sweden, for example, plans to build two new nuclear reactors by 2035 to ensure low-carbon energy security, and hopes for 10 new reactors by 2045.

The country expects increased demand for electricity from its industrial and transportation sectors, in the form of a doubling of demand by 2045, and Energy Minister Ebba Busch , described this decision as “decisive for the green transition, for Swedish employment and globally”. heart for the well-being of our citizens”.

By Charles Kennedy for Oilprice.com

More important reading on Oilprice.com: