Lithuania had shut down its last nuclear reactor in the year 2009. The plant was responsible for generating 70% of its total energy needs. Recently, Lithuania and the Japanese conglomerate Hitachi concluded a concession agreement for the Visaginas Nuclear Power Plant, paving the way for the next phase of project development of what is seen as one of the most advanced nuclear generation projects in Europe.
It involves vendor equity as well as the other Baltic States. Almost 90% of the country's gas comes from Russia, at a significantly higher price than paid by other EU countries. Following closure of its second nuclear power reactor at the end of 2009, over 60% of Lithuania's electricity is imported. The country, along with its two Baltic neighbors is oriented to the West and keen to increase its independence from Russia, which accounts for 80% of its energy imports. In 2009, the government commissioned an international advisory consortium, led by the Rothschild investment bank, to prepare a business model and financing plan for the Visaginas project.
This was presented in September 2009 and adopted by the government, which proceeded to invite expressions of interest by major strategic investors to supplement the role of regional partners in providing a plant up to 1400 MWe. In May 2011 competitive proposals from potential strategic investors were received, from Westinghouse and Hitachi GE. In July, the government selected Hitachi as strategic investor, though it will be GE Hitachi which does the engineering, procurement and construction (EPC contract).
Lithuania's partners in the project, Estonia, Latvia and Poland participated in the evaluation to determine which of the two proposals was most economically advantageous. Their energy companies will be investors with Hitachi in the project company. GE Hitachi expects to build a single 1350 MWe Advanced Boiling Water Reactor, several of which are operating and under construction in Japan and Taiwan. This is expected to operate from 2020.
In October 2011 the government formally notified the ?European Commission of plans for the new nuclear power plant at Visaginas to ?be built in collaboration with Estonia, Latvia and Poland. However, in December, Poland withdrew from the project, saying that VAE's conditions were unacceptable to PGE, and it had other plans anyway. In March 2012 the prime ministers of Estonia and Latvia reiterated their support for the project. In mid-2012 the Lithuanian parliament is due to approve a concession agreement.
In this industry scenario, Taiyou Research analyzes the Nuclear Power Market in Lithuania.
Divided into five chapters, this in-depth research offering from Taiyou Research is a complete analysis of the nuclear power market in Lithuania.
The report deals with an overview of the global power market which is consistently rising due to rapid industrialization resulting in ever increasing demand for power. 66% of global power market is dominated by thermal power sources viz. coal and petroleum but stringent emission norms and depletion of sources is driving global attention towards renewable technology and nuclear power with a 7.5% market share is going to play a major role in future.
In spite of the Chernobyl disaster and the more recent Fukushima setback, the global installed nuclear capacity is likely to increase at a CAGR of nearly 4% and nuclear generation at a CAGR of 3.9% during 2011-2020. In comparison to other technologies the nuclear power has a nominal impact on greenhouse gas emission.
Chapter 1: Introduction to Nuclear Power covers the following:
- An industry definition and an overview of nuclear power.
- Present-day use of nuclear power and looking at why we need nuclear power?
- We look at the various reasons why the world needs nuclear power, such as the rising energy demand in the world, the global power situation, environmental impact of nuclear, and many others.
- An in-depth comparison is carried out of nuclear power and other power generating technologies such as gas and coal.
Chapter 2: Analysis of the Global Nuclear Power Industry covers the following:
- An analysis of the global nuclear power industry through a market profile, market statistics, industry value and volume analysis, industry capacity and generation analysis, and much more.
- We carry out region-wise industry segmentation, and also analyze the technological trends in the industry and an industry outlook.
- We carry out an analysis of the global nuclear power industry in a Porter's Five Forces Framework. We look at the global nuclear power industry by taking nuclear energy providers as key market players. The section analyzes the forces driving competition in the industry viz. buyer power, supplier power, new entrants, substitutes and rivalry amongst major players in the industry.
- A brief profile of the emerging nuclear power markets sums up this chapter.
Chapter 3: Nuclear Power in Lithuania covers the following:
- An analysis of the nuclear power industry in Europe through a market profile, industry statistics, industry value & volume analysis, industry capacity and generation analysis, and a country-wise segmentation of the industry.
- We analyze the Lithuanian nuclear power industry through a market profile, industry statistics, the impact of the Fukushima nuclear disaster, regulatory framework, and a look at the decommissioning of reactors in Lithuania.
Chapter 4: Analysis of Major Global Players is an in-depth study of the major players in the global nuclear power industry with special emphasis on company overview, business analysis and a SWOT analysis of the key players. We include an analysis of nearly 15 players in the industry.
Concluding with Chapter 5, we include an appendix, a glossary of terms, and a research methodology.
Overall, Taiyou Research’s report on the nuclear power market in Lithuania is in depth-study of the Lithuanian nuclear power market.
Taiyou Research’s report makes an intensive study of the installed capacity and generation, nuclear facilities and region, regulatory policies and framework, major players and competitive scenario with business viability of the Lithuanian nuclear power industry.
