“Italy is restarting its nuclear energy again,” U.S. Energy Secretary Steven Chu told reporters. “It has aggressive goals, very admirable goals, in decreasing its carbon emissions through nuclear, through renewable energy, through improvements and efficiency.”
Chu said companies like General Electric Company and Toshiba Corporation’s unit Westinghouse Electric Company, LLC will be able to bid for projects in Italy, which is estimated to issue in mid-February 2010 criteria that would determine the location of facilities.
The five-year agreement was signed by Chu and Italy’s Economic Development Minister Claudio Scajola.
The new reactors can cost an minimum average of $3 billion to $4 billion to develop.
Scajola said, he expects the facilities will be built starting in 2013 and will start generating energy several years later.
“The first kilowatt of energy will be produced in Italy around 2018, 2019,” Scajola said.
This agreement develops a framework for the two nations to design new generation nuclear reactors with improved security and efficiency and it allows for the exchange of scientists, engineers and other specialists, as well as information and materials.
Italian officials said that the agreement also sets up a bilateral surveillance panel comprising of two representatives from each country. The panel will meet to discuss the programs once a year, alternating meeting sites between Italy and US.
As per the agreement, nuclear technology can only be used for peaceful purposes and does not include the technology to enrich uranium. The agreement also includes the treatment and storage of nuclear waste.
