Ukraine could invest $25 billion in new nuclear power capacity by 2030

The country plans to build nuclear reactors with combined capacity of 5,000 MW by 2030, according to the basic scenario of a draft updated energy strategy posted on the Energy and Coal Industry Ministry’s website.

By the end of this year there are plans to make a decision at the legislative level to build third and fourth generating units at the Khmelnytsky Nuclear Power Plant with combined capacity of 2,000 MW. They are to be launched in 2018 and 2020 respectively. The approximate cost is estimated at UAH 42 billion.

The cost of building another 3,000 MW of new nuclear capacity is estimated at UAH 96 billion. Construction is expected to begin in 2022, with the capacity coming on line in 2025-2030. However, the projects could be accelerated if demand for electricity grows.

The optimistic scenario of the Energy Strategy 2030 calls for the construction of additional reactors with capacity of 2,000 MW at an estimated cost of UAH 64 billion.

Therefore, construction of new nuclear power capacity will require anywhere between UAH 138 billion, according to the basic scenario, and UAH 202 billion under the optimistic scenario, or $17.25 billion to $25.25 billion.

In addition, Ukraine plans to extend the life of eleven existing generating units at NPP by 20 years in the period to 2030. Ten generating units with combined capacity of 10,000 MW will reach the end of their service life in 2012-2019, and one more with capacity of 1,000 MW will come to the end of its service life in 2025.

Nuclear power generates 47-48% of Ukraine’s electricity. All of the country’s NPP are operated by state company Energoatom. The company operates the Zaporizhia NPP, Khmelnytsky NPP, Rivne NPP and Yuzhnoukrainsk NPP, which have 15 generating units equipped with light water reactors with combined installed capacity of 13,835 MW.