The UK government has a plan to triple the country’s nuclear capacity by 2050. To achieve that, the UK has begun talks with South Korea. If the negotiations are successful, South Korea will build a new generation of nuclear power stations in the UK.
According to Euronews, ‘British business Minister Kwasi Kwarteng has met state-owned Korea Electric Power Corporation to discuss investment in the British nuclear industry and the talks with officials are ongoing.’
UK’s plan to triple nuclear power generation capacity
The UK’s plans to triple nuclear power generation capacity by 2050 were announced in April. ‘The plan called for eight more nuclear reactors, which could be approved on existing sites. If implemented, the UK would generate ~25% of electricity from the carbon free energy source, helping the country meet Paris goals,’ Seeking Alpha reported.
Nuclear power is not a renewable energy but it is recyclable. It can be considered clean and sustainable for the following reasons:
- It protects air quality – nuclear power is a zero-emission energy source generating power through fission, which is a process of producing energy by dividing uranium atoms. Fission releases heat that creates steam and spins a turbine generating electricity. So, nuclear energy does not release harmful byproducts such as greenhouse gases.
- It has a small land footprint – nuclear energy generates more electricity than other clean energy sources while using less land to do so. Wind farms, for example, require significantly more land area to operate and generate the same amount of power.
- It produces little waste – nuclear fuel is dense and can be recycled.
Taking all these things into consideration, nuclear power is a great alternative to fossil fuels and can help the UK achieve its sustainability goals and be greener.
Nuclear energy in South Korea
‘South Korea’s nuclear fleet generated 139 terawatt-hours (TWh) of electricity in 2019, making the country the fifth-largest nuclear power producer in the world,’ AA explains and adds that ‘the country has set a goal to reduce greenhouse gas emissions of 850.6 million tons by 37% as part of its 2030 emissions forecast based on business-as-usual rates.
Since nuclear power plants harness the cycle of atomic fission heat for generating steam electricity and produce virtually no carbon dioxide (CO2) emissions during activity, nuclear power plays an important role in reducing CO2 emissions.’
As Financial Times reports, ‘South Korea has the highest density of nuclear reactors in the world, with most of its 24 reactors located at two complexes in the country’s industrial south-east.’
So, South Korea can be a great partner supporting the UK in increasing its nuclear energy generation capacity. Moreover, in recent months the UK and South Korea have been increasing cooperation in various areas.
‘In March, South Korea’s President-elect Yoon Suk-yeol and the British prime minister vowed to deepen digital, industrial and military cooperation, as well as make joint efforts to denuclearize North Korea,’ Yonhap News Agency reported.
The talks have not finished yet so the next few weeks will show whether South Korea will help the UK develop its nuclear industry.
BP will invest up to £18 billion in UK energy transition
BP announced that it will invest up to £18 billion in the UK’s energy system by the end of 2030 to help the country complete its energy transition, improve energy security, and reach net zero. BP is one of the largest oil and gas producers in the UK and, through the investment, it aims to show its commitment to supporting the UK on its path towards sustainability. In addition to this major investment, BP is also investing in smaller projects focusing on low carbon energy, creating jobs, and driving innovation.
When announcing the plan, Bernard Looney, chief executive officer of BP, said: ‘We’re backing Britain. It’s been our home for over 110 years, and we’ve been investing in North Sea oil and gas for more than 50 years. We’re fully committed to the UK’s energy transition – providing reliable home-grown energy and, at the same time, focusing on the drive to net zero. And we have ambitious plans to do more and to go faster. Our plans go beyond just infrastructure – they see us supporting the economy, skills development and job opportunities in the communities where we operate. We are all in.’
What will the investment project cover?
The £18 billion project will support activities in the following areas:
| North sea | Developing low emission oil and gas projectsInvesting in exploration around existing North Sea hubsReducing operational emissions |
| Offshore wins | Investing in infrastructure, harbours, shipyardsBuilding four ships to support offshore wind projectsCreating new jobs and reskilling experienced workersMaking Aberdeen BP’s centre of excellence for offshore wind |
| EV charging | Investing £1 billion in electric vehicle charging in the UK over the next decadeCreating more rapid and ultra-fast chargers across the UK |
| Hydrogen | Producing 1.5GW of hydrogen by 2030Creating more than 600 operational jobs and 1200 construction jobs by 2027Promoting green skills and education initiatives |
| CCS | Creating the world’s first commercial scale gas-fired power station with carbon captureCreating more than 3000 jobs in construction |
| Aberdeen | Supporting Aberdeen City Council in green hydrogen production, storage, and distributionMaking Aberdeen a climate positive cityWorking on decarbonisation projects supported by the Port of Aberdeen |
| Retail | Developing BP retail network across the UK |
100% renewable UK campaign
Since 2014, the UK has improved significantly in terms of clean energy and the contribution made by renewables to the country’s energy mix has more than doubled. The progress does not end there, however, and the country wants to keep focusing on energy generation from renewables and moving away from fossil fuels.
‘The aim of 100% Renewable UK is to campaign for the provision of all UK’s energy requirements by renewable energy by the year 2050, or as soon as practicable before then. This means all energy, not just electricity, and includes energy for domestic, commercial, industrial and transport purposes. This implicitly excludes nuclear energy and also fossil fuels with or without carbon capture and storage. The campaign is a forum for discussion, education and campaigns for policies on particular issues. The main topic for debates and campaigning are the politics, economics and technology of paths that can achieve 100 per cent renewable energy for the UK,’ the campaign’s website explains.
While the campaign aims to make the UK 100% renewable by 2050, Boris Johnson said that it is possible to achieve this goal sooner, by 2035. In recent years, the UK has become a leading offshore wind energy producer, which proves that the country has been on the right track to achieve this goal.
As BP’s investment focuses also on advancing developments in offshore wind, it can help the UK keep growing and keep getting closer towards reducing its impact on the environment and becoming 100%.