Nuclear power

Toshiba Corp said it may have to book several billion dollars in losses related to a U.S. nuclear power acquisition, a shock warning that sent its stock tumbling 12 percent and rekindled concerns about its accounting acumen.

Iran ordered its scientists on Dec. 13 to start developing systems for nuclear-powered marine vessels in response to what it calls a U.S. violation of its landmark 2015 atomic deal with world powers. 

Bugaria's state-owned electricity utility company has transferred the entire sum of its debt to Russia's Atomstroyexport owned over the Belene nuclear project, officials say.

The National Electricity Company (NEK) has paid off the amount through a transaction dated Thursday, Energy Minister Temenuzhka Petkova has told lawmakers at a Parliament Q&A session.

Bulgaria, Slovakia and Lithuania have the chance to become centers of excellence and nuclear decommissioning experience if they manage to decommission their closed nuclear units in a timely manner and complying with the envisaged costs, a European Bank for Reconstruction Development (EBRD) official has said.

Turkey expects the first reactor of the nuclear power plant project Akkuyu (estimated at USD 20 B) to become operational by the end of 2023, stated Turkish Energy Minister Berat Albayrak, cited by Reuters.

Turkish President Erdogan has already announced that work on the joint project with Russia may be accelerated after a rapprochement between Ankara and Moscow took place in August.

France and China will set up a fund for joint investment in overseas projects, France's foreign minister said on Oct. 31, as China's voracious appetite for overseas acquisitions continues to grow despite some recent stumbles in overseas markets. 

The Build, Operate, Own (BOO) model for nuclear power plants transfers all the different types of risks associated with the construction and operation of a nuclear power plant to the project company that owns and operates the plant. In the case of Akkuyu, the management of nuclear waste and the fuel spent are also the responsibilities of Rosatom, a Russian state-owned company.

There was only one good aspect of the diplomatic crisis between Russia and Turkey that erupted after the downing of a Russian war plane by Turkish jets on the Syrian border nearly a year ago: The possible suspension of the Akkuyu nuclear power plant project. 

The European Court of Auditors is set to publish its report on the use of EU funding by Kozloduy Nuclear power plant (NPP) in northern Bulgaria.

The document is to establish what progress Bulgaria has made in decommissioning the units and managing the radioactive waste. It will also contain a forecast about whether the funding disbursed will be sufficient.

Russian and Iranian firms began work on Sept. 10 on two additional reactors at Iran's nuclear power plant on the Gulf coast at Bushehr, the project manager said.

The plant has been a bone of contention with Iran's Gulf Arab neighbors, even after a deal limiting its nuclear ambitions was signed with major powers in July last year.