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Prospective Investors Eye Nuclear Power Opportunities in Sri Lanka

Amidst the government’s ongoing efforts to establish legislation for nuclear power generation regulation and the Sri Lanka Atomic Energy Board (SLAEB) gearing up to solicit Expressions of Interest from potential investors, an official announced yesterday that a delegation from the China National Nuclear Corporation (CNNC) is anticipated to visit the country soon to explore investment prospects for a nuclear plant.

CNNC is among the organizations that have submitted proposals for such a plant in Sri Lanka. Additionally, proposals have been submitted by Russia’s Rosatom, France’s Électricité de France (EDF), and Denmark’s Seaborg.

In line with its carbon emission reduction strategy, the government has committed to incorporating nuclear power into its energy portfolio. Recently, the International Atomic Energy Agency (IAEA) conducted a comprehensive safety review of Sri Lanka’s site selection process for its inaugural nuclear power plant.

In light of these developments, SLAEB Prof. S. R. D. Rosa revealed that a team of legal experts departed Sri Lanka for Vienna, Austria, yesterday to collaborate with the IAEA on the evolution of proposed legislation to regulate nuclear power generation in Sri Lanka.

“We need to amend existing laws. Simultaneously, we are preparing to solicit Expressions of Interest from potential investors. Although nuclear power costs may not undercut hydropower, it is projected to fall within the cost spectrum between thermal power and hydropower,” he elucidated.

Further entities such as the Ultra Safe Nuclear Corporation of the US (USNC) and Canada’s Atomic Energy of Canada Ltd (AECL) have expressed interest in investing in Sri Lanka.

Previously, Russia’s Rosatom submitted proposals. Russia operates two nuclear power plants in Bangladesh and Kudankulam, India, approximately 207 kilometers from Kalpitiya.

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