Indian contractor to build new nuclear plant in Ukraine

April 12, 2011

Well, this nearly slipped under my energy/environmental radar dear readers.

It seems, despite all ruminations and stereotypical assumptions to the contrary, a tender has been won for a major project from a company that has no ties to the oligarchy in Ukraine or Russia.

That said, would Russia necessarily want to expose itself to the financial risk of building all of the proposed new 20  reactors between now and 2050? – Probably not.

Anyway, it seems Kalpataru from India will be building the intended nuclear plant at Rivne and the entire selection process has taken place under the scrutiny of the EBRD….. meaning anything dodgey by way of procurement at least meets the same standards of opaqueness of the EU.

I must say, I am interested to know which designer has been used given the EU nuclear “stress tests” going on at the moment.  Russian, French, German or Indian?

One has to hope that it is a design that will meet any recommendations forthcoming……as any extras or deviations from the contract and design from which any accepted quote has been made, can have significant implications of costs and profits to those involved.

Regardless, it is good to see Ukraine and India moving their bilateral energy relations to a more involved level within the territory of Ukraine, rather than Ukrainian companies simply building hydroelectric power plants in India as has been the case.

I wish I could get the UK more involved in Odessa.  It’s not as though Odessa doesn’t have enough reasonable projects already on paper seeking PPP partnerships.  Given the financial squeeze currently being put on PFI and PPP profits in the UK, you would think the usual SPV’s would be looking for a wider market providing a better return over the duration of the agreements.

It is getting a little depressing to watch the Scandinavian nations overtaking the Greeks in Odessa when it comes to signing deals with the City on TV.

I suppose Mr Hague and  chums must be happy with English teaching as our main influence here – Sad.  Very sad.

Congratulations to the governments of India and Ukraine on this bilateral success nevertheless.

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