South Korea president says to nurture solar, wind, nuclear power

S.Korea president says to nurture solar, wind, nuclear power - Reuters

SEOUL Jan 3 (Reuters) - South Korea, heavily dependent on energy imports, will strengthen its new and renewable energy sectors, President Lee Myung-bak said on Monday.

Asia's fourth-largest economy expects its new and renewable energy sectors to achieve exports of $40 billion in 2015, compared with $4.6 billion in 2009, with the government to set up four or five test beds for solar and wind power generation in 2011 with an investment of 20 billion won ($17.7 million).

"In the future, the solar power industry will be nurtured as the semiconductor industry was, and the wind power industry as shipbuilding was," Lee said in a New Year speech.

"By taking the opportunity to export to the United Arab Emirates, the government will actively nurture nuclear power as an export industry to cope with the era of climate change," he said, referring to an up to $40 billion nuclear deal awarded to a South Korean consortium in late 2009.

One of the world's fastest-growing carbon polluters, South Korea is seeking to shift from its dependence on fossil fuels, expanding investment in green resources.

In October last year, the government said it would spend 40 trillion won by 2015 in a combined push by the public and private sectors to boost renewable energy resources. (Reporting by Cho Mee-young; Editing by Chris Lewis)

Energy companies in Switzerland join forces for new nuclear plants

Swiss nuclear firms join forces on new reactors - Reuters

Axpo, Alpiq, and BKW will each take a third in a new project company

Swiss utility companies Axpo, Alpiq (ALPH.S: Quote) and BKW (BKWN.S: Quote) have decided to club together in their plans for two new nuclear power stations to replace existing capacity, they said on Thursday.

Although new capacity is probably a decade away, the plans show Swiss operators are determined to keep control of some 3,200 megawatts of capacity that currently supply 40 percent of Swiss electricity usage from five generation units. [POWER/CH]

"This represents a milestone in the bid to ensure security of supply in Switzerland," said a statement issued by Axpo.

"This will speed up the political process and official procedures, enable synergies to be exploited in the evaluation process, and save on costs," it added.

The aim is to compensate for existing plants reaching the end of their operating lives and for French import agreements that are due to expire, it said.

Switzerland's role is pivotal in central European power markets, where prices are converging. Nuclear serves as a basis while its big hydropower sector supplies neighbours in years with high water supply but necessitates imports in dry years.

Under the latest plans, the three companies will further develop previously separate projects jointly and be given equal shareholdings each in a joint planning and project company, which might also become a joint operating company in the future.

Decisions on sites and the prioritisation were expected to be made in mid-2012, they said.

Sites at Niederamt, Beznau and Muehleberg have already been declared suitable for replacement plants and further feasibility studies are under way.

The ratio of power procurement entitlements has also been laid down, with some minor adjustments. It will roughly be 59 percent for Axpo and its subsidiaries Axpo AG and CKW, 25.5 percent for Alpiq and 15.5 percent for BKW, commensurate with their existing share of current production capacity.

The existing Swiss capacity is split betwen the three firms, with some participation of cities and Cantons, and Germany's E.ON (EONGn.DE:Quote), which has a 20 percent share in Muehleberg. (Reporting by Vera Eckert; editing by James Jukwey)