Izvestia Vysshikh Uchebnykh Zawedeniy. Yadernaya Energetika

The peer-reviewed scientific and technology journal. ISSN: 0204-3327

Comparative analysis of the investment attractiveness of nuclear power plant concepts based on small and medium sized reactor modules and a large nuclear reactor

11/15/2018 2018 - #04 Economics of nuclear power

Andrianov A.A. Kuptsov I.S. Osipova T.A. Andrianova O.N.

DOI: https://doi.org/10.26583/npe.2018.4.08

UDC: 621.039.003

It seems to be of current interest to consider and analyze possible electrical and non-electrical applications of small and medium sized reactors for both the nearest and more distant future. The paper presents a comparative analysis of the investment attractiveness of a nuclear power plant design based on small and medium sized reactor modules and a large sized reactor. The authors identify conditions for increasing the investment attractiveness of a nuclear power plant based on small and medium sized reactor modules. The performed analysis showed that, in terms of the total discounted and levelized costs, the nuclear power plant modular design concept has no economic attractiveness at all. Taking into account the net present value, internal rate of return and payback period, it is possible to speak about the feasibility of the nuclear power plant modular design concept if only the predicted learning effect is observed when the modules are constructed and the scale factor is no less than 0.5. In this case, it will be economically feasible to construct a nuclear power plant based on a small number of medium sized modules. If the scale factor is not less than 0.6, then we can talk about the feasibility of nuclear power plant designs based on reactor modules of lower power. The authors also analyze the impact of various debt financing schemes to show that, in relative terms, changes in the economic performance indicators are comparable in the implementation of the nuclear power plant modular design and a large sized reactor.

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small and medium sized reactors modular NPP economic efficiency indicators economic risk