The study will evaluate how nuclear power can work alongside other growing low-carbon and green energy sources like wind and solar power, the government said.
“We cannot afford the luxury of excluding sustainable energy sources … In order to achieve our climate goals, we have to pull out all the stops, including nuclear energy, if it is profitable and safe,” said the Dutch State Secretary for Economic Affairs and Climate Policy Dilan Yesilgoz-Zegerius.
The Netherlands intends to cut CO2 emissions by 95% by 2050 compared to 1990 levels, and the government is considering allowing new nuclear power plants to be built to achieve this goal.
At the beginning of the year, she commissioned the consulting firm KPMG to provide market advice to check whether and under what conditions investors would build new nuclear power plants in the Netherlands.
The report, released late Wednesday, showed that investors are ready to fund new nuclear power plants in the Netherlands, but that the government must have clear and supportive policies and guarantees to reduce funding risks. This includes guarantees that prevent changes in licensing regulations.
“The normal construction risk is borne by a private consortium. However, there are risks in particular from laws and regulations that private individuals do not want to enter into, ”said one of the 41 Dutch and international stakeholders surveyed by KPMG during the consultation. Names were withheld for reasons of confidentiality.
Investors support SMRs
Most respondents said they would support the construction of a proven and tested reactor design, with a Generation III reactor type preferred. It typically takes 11-15 years to build and costs EUR 7-13.2 billion, based on recent Western examples.
Many participants also supported the construction of small modular reactors (SMRs) because their shorter construction time would improve the financing possibilities. According to KPMG, a 300 MW SMR would cost 1.4 to 2.7 billion euros.
“SMRs are viewed as an interesting option by many market participants, but the commercial availability of SMRs is still weak, which makes it unclear how prone they are to FOAK (first type) problems,” KPMG said in its report. SMRs are smaller than traditional reactors and are manufactured off-site prior to shipment.
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