The coming European blackouts and SMR opportunities feat. Kalev Kallemets

Germany has once again embarked on a war on two fronts this time
attempting to phase out its two main sources of reliable baseload
power, Nuclear and Coal. Nevermind the fact that during a climate
emergency nuclear, despite being almost zero carbon, is being
phased out at breakneck speed while coal will languish on the
grid for another 15 years. Germany is not alone. In many
countries in the EU baseload electricity generation is on the
chopping block. 


European energy systems are largely following the illogic of what
Meredith Angwin calls the "fatal trifecta:" Over reliance on
weather dependent renewables, just in time natural gas and
imports. The weather is getting no more reliable, EU gas prices
are skyrocketting and electricty imports will not be dependable
given the amount of generation coming off line over the next
decade. This phenomenon will lead to blackouts within the next
couple of years according to my guest Kalev Kallemets. 


Kalev is the CEO of Fermi Energia, a company of nuclear
scientists, energy experts and entrepreneurs looking to bring
SMRs to Estonia and other countries in the EU as a vital tool for
meeting its climate, economic development and energy independence
goals. Kalev argues that ever increasing EU carbon pricing and
volatile natural gas prices make an excellent business case for
nuclear energy. 


Kalev believes that after the difficulties encountered with
building 21st century large scale nuclear on budget and on time
SMRs using tried and tested light water technology offer the most
compelling options going forward. He argues that as has happened
with Tesla in the electric vehicle market the private sector can
pick a winner in order to deliver the economies of multiples
required to make SMRs economic.