Attaining net zero carbon emissions by 2050 will require financing and developing significant capacity of new nuclear power generation in the coming years and decades. To facilitate this process, the OECD Nuclear Energy Agency (NEA) and the International Framework for Nuclear Energy Cooperation (IFNEC) in collaboration with the Ministry of Climate and Environment of Poland launched the NEA-IFNEC Financing Initiative in late 2020, and organised a series of joint webinars on conceptual and practical issues pertaining to nuclear new build financing. The Warsaw Conference on Nuclear Financing concluded the series and bring together policy makers, finance industry representatives, and nuclear financing experts for in-person discussions in Warsaw, Poland.
Based on the insights developed during this initiative, the NEA has prepared a report entitled Financing New Nuclear Power Plants: Minimising the Cost of Capital by Optimising Risk Management which combines new work on the relationship between optimal risk allocation and nuclear financing in low-carbon energy systems. Key insights from the report were discussed during the conference.
9:30-10:00 High-level remarks
10:00-11:15 Session 1 - Financing models for nuclear new build: Lessons learnt from recent projects
This session will discuss a series of case studies of financing models for nuclear new build based on recent and ongoing projects. The session will focus on the lessons learnt about project governance, the role of government policy support measures, as well as risk allocation and mitigation strategies.
Presentation: Michel Berthélemy, Nuclear Energy Analyst, NEA
Moderator: Emma Wong, Consultant, NEA
11:15-11:45 Coffee break
11:45-13:15 Session 2 - Optimal risk allocation in a low-carbon world and what it means for nuclear finance: The NEA nuclear financing study
This session will focus on the presentation of the new NEA report entitled Financing New Nuclear Power Plants: Minimising the Cost of Capital by Optimising Risk Management, followed by a roundtable discussion on the key findings of the study.
Presentation: Jan Horst Keppler, Chief Energy Economist, NEA
Moderator: Paul Murphy, Managing Director, Murphy Energy & Infrastructure Consulting, LLC
14:30-15:45 Session 3 - Leveraging public and private financing for nuclear new build projects
This session will discuss key challenges and opportunities for nuclear new build financing in OECD and NEA economies. This will include a discussion on the roles of different sources of public and private financing as well as the importance of key policy frameworks, such as the role of ESG and taxonomies.
Introductory keynote: Tim Stone, Chairman, Nuclear Industry Association, United Kingdom
Moderator: Milt Caplan, President, MZConsulting, Canada
15:45-16:15 Coffee break
16:15-17:30 Session 4 - Policy frameworks to enable investments in nuclear new build in Europe
This session will conclude the conference with a high-level discussion on the policy frameworks to enable investments in nuclear new build in Europe, both at the national and the European Union levels.
Moderator: Yves Desbazeille, Director General, Nuclear Europe
17:30 Cocktail reception
Interested participants are invited to join a sightseeing tour to the Royal Castle in Warsaw which will take place at 11:00 CET on 9 December.
OECD Nuclear Energy Agency
International Framework for Nuclear Energy Cooperation (IFNEC)
Ministry of Climate and Environment - Republic of Poland
With the support of the National Fund for Environmental Protection and Water Management (Republic of Poland).