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This paper considers the prospects for financing a wave of new Nuclear Power Plants (NPP) using project financing, which is used widely in large capital intensive infrastructure investments, including the power and gas sectors, but has not previously been used for nuclear power. It argues that the first few NPPs will have to be financed on balance sheet by large corporations because these plants need to build a positive record on construction risk. If that record can be built there is no reason in principle why large scale project financing should be denied to NPPs.
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