Friedman: U.S. working on commercial nuclear energy projects - CNBC Africa
At the recent U.S.-Africa Business Summit held in Angola, the center stage was shared by a pivotal topic—nuclear energy. The United States is not just strongly advocating for but actively supporting commercial nuclear energy projects in Africa, according to Justice Friedman, a senior adviser for the U.S. Department of State. During an interview with CNBC Africa, Friedman elucidated the evolving focus of U.S. energy outreach initiatives in Africa, which are now increasingly centered on nuclear energy projects. As the continent witnesses rapid development, more African nations are exploring nuclear energy to stabilize their electrical grids and bolster their economies. "As more African countries develop, more are looking at nuclear energy as an opportunity to build stability into the electrical grids and grow their economies," said Friedman. The engagement at the summit was momentous, with business leaders from across Africa and the United States gathering to deliberate on tangible projects and emerging opportunities. Friedman expressed his admiration for the transformative dialogues taking place there. "It’s just an honor and a pleasure to be part of that conversation," he said. According to Friedman, while the foundation for nuclear initiatives by the United States on the continent stretches back more than 70 years, current endeavors are gearing towards facilitating commercial projects. The intrinsic benefit of nuclear energy, akin to renewable sources like wind and solar, lies in its ability to assure stable baseload power, which is crucial for sustaining an efficient and reliable energy grid. "We’ve been here a long time. What is new is that we’re now working on commercial projects as Africa has developed," Friedman noted. Highlighting a 'win-win' collaborative approach, he emphasized that while the U.S. does not impose nuclear energy on any country, it offers support for safely and securely adopting nuclear energy. Although African interests in nuclear energy are outpacing current global capacity, the U.S. is keen to overcome resource limitations. Countries like South Africa and Egypt are pioneers on the continent in adopting nuclear energy, with other nations like Ghana evaluating potential applications for industrial growth. On the financial and risk management front, there is a transformative shift in how funders perceive nuclear projects—a historically high-budget and time-intensive endeavor. However, increased longevity and returns over decades are tilting lender interests positively towards nuclear energy commitments, leading to new possibilities for financing. Friedman also touched upon advancements in nuclear technology, particularly micro-modular reactors, which are poised to make groundbreaking contributions by 2027–2028. Smaller, easily deployable nuclear units are envisioned to bring cost-effective and continuous power across remote and industrious sites, addressing logistical challenges prevalent in such areas. When asked about the expectations for the next U.S.-Africa summit, Friedman was hopeful that more countries will manifest their interest in nuclear energy publicly, which would be a driver for collaborative initiatives with U.S. support. "It starts with a public expression of interest," he said, implying that diplomatic facilitation follows the expression of demand. This narrative underscores a burgeoning partnership marked by a shared commitment to sustainable development, where nuclear energy could become a cornerstone of Africa’s future energy mix.