Russia’s President Vladimir Putin has reiterated that the BRICS bank was ready to fund member countries’ nuclear power ambitions.
Putin has also highlighted the importance of a nation taking maximum control of its technological advancement, saying his country was not colonised in terms of nuclear development.
The Russian leader said this during a round table discussion at the World Atomic Week’s Global Atomic Forum.
Putin’s comments come as South Africa has been grappling with the costs of installing a new nuclear power station amid a volatile electricity supply environment while also struggling to develop the economy.
He said the BRICS development bank, created by Brazil, Russia, India China and South Africa, approved the readiness to finance nuclear projects.
Balancing risks and benefits
“…It is obvious that the construction of nuclear power plants requires significant funds. Therefore, the risks and benefits should be balanced between the main participants of such projects, states, investors and consumers.
“I believe it is necessary to set up modern models of financing for the construction of nuclear power plants, to involve international financial institutions and development banks in such projects.
“We would like to add that at the beginning of the year a new development bank, created by BRICS countries, approved the readiness to finance nuclear projects.
“And at the end of last year, at the initiative of Russia, it created a mechanism for coordinating efforts of BRICS countries as a platform for nuclear energy. The most important issue is the resource provision of nuclear power plants for the next 10 years,” Putin said.
The event kicked off in Russia on Thursday, and was attended by thousands of delegates from across the world.
The media and other delegates were not part of a small number of global leaders who physically attended the discussion. However, the event was streamed live.
Caution against tech colonialism
Putin also slammed countries embarking on technological colonialism.
“…We reject the so-called technological colonialism. That is, we do not rely on our partners for Russian technical solutions,” said Putin.
“On the contrary, we help to create our own sovereign national nuclear industry. We actively attract local companies. We provide assistance in the operation of our units.”
He said Russia provides the supply of nuclear fuel and treatment of waste.
“We share our experience, knowledge and in the creation of other industries of the 21st century. Nuclear power, nuclear medicine, digital systems, electric transport, new materials. As a result, we help our partners to make real progress in development, to bring the economy to a new level of efficiency, to improve the quality of life of people in the long run. All this is an important social measure of our work,” he said.
Putin said equal access to technology in the sphere of nuclear power can provide a dynamic, at the same time fair, stable global development.
“We consider the technology of nuclear power as the basis for wide international cooperation, for the rapprochement of states. Russia is interested in creating stable long-term conditions for projects in the nuclear sphere,” he said.
Green technologies
Putin placed emphasis on nuclear energy’s reliability as part of green technologies. These reduce the impact on the environment and climate to a minimum.
“And I repeat, the key source of clean, low-carbon energy are nuclear power plants,” he said, without mentioning other green power sources like wind and solar, which have already been adopted in South Africa and are regarded as costly.
Putin also shared that Russia was developing projects of both ground and floating nuclear power plants.
“Very soon we will produce them in series. The call of the leadership of Russia is our principal approach. Firstly, we strictly carry out contractual obligations,” he said.
- Mpho Sibanyoni’s trip is sponsored by the conference host Rosatom
