US pledges $9 B for Armenia nuclear
Vice-President JD Vance signs agreement enabling US companies to export technology and support new Armenian nuclear projects.
Image for illustrative purposes /Credit: Cassiohabib, Shutterstock.com
USA / Armenia: The United States has pledged up to $9 B to support nuclear energy development in Armenia. US Vice-President JD Vance signed a civil nuclear cooperation agreement, known as a Section 123 agreement, that will allow American firms to export nuclear technology, fuel, and services to the country.
The deal opens the door for US companies to compete to replace Armenia’s Soviet-era nuclear power station. “This agreement paves the way for American and Armenian firms to strike deals on civil nuclear projects,” Vance said. “That means up to $5 B in initial US exports, plus $4 B in long-term support through fuel and maintenance contracts.”
Vance described the deal as a “classic win-win” for both nations, citing stronger energy security for Armenia and the United States, along with new job opportunities.
Armenia has historically relied on Moscow for energy and security since its independence in 1991. Its current nuclear facility, Metsamor, is operated by Russia’s Rosatom, with fuel imported from Russia. The Armenian-2 reactor, a 416-MW pressurised-water unit, has been in commercial operation since 1980. The older Armenian-1 unit was shut down in 1989.
Last year, the Armenian government formed a new company to explore options for constructing a replacement reactor. The company will review proposals from technology vendors to determine potential designs and costs, aiming to finalise a development plan for the new nuclear capacity by mid-2026.
Source: NucNet
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