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Expert: nuclear reactors cost Iraq 40 billion dollars and the money will be restored within 4 years

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Expert: nuclear reactors cost Iraq 40 billion dollars and the money will be restored within 4 years

Today 12:03
Nuclear reactors
Information / Baghdad..

The national expert in the field of energy and emissions control Kamal Hussein Latif said on Sunday that the cost of building nuclear reactors that can provide Iraq with 10 kW is about 40 billion dollars, stressing that Iraq can recover this amount within four years.

Latif said in a statement that

"Iraq's need for electric energy will reach in 2030 about 62 kW, distributed by 24% by gas at single cycle stations, 58% by Combined Cycle stations, 11% by heavy oil and crude oil stations, and 7% of it by renewable energy according to the plan".  He added that

"the annual losses that Iraq will incur in that year and beyond from oil and gas consumption to electricity production exclusively in single cycle plants with a thermal conversion efficiency ranging from ( 29.4-44.8)%, whose production capacity will be about 10 gigawatts, will consume annually about 192.857 *1011 cubic feet, and assuming the standard cubic foot price remains about 3 cents,

this means that we will spend 5.78 billion dollars annually, which is 20 percent of the current national income and about 12% of the national income expected for 2030,

but for combined cycle plants with a conversion efficiency of 65%, as is known, the production capacity for the need will be about 24.36 kW, which will consume annually 1011*328.297 Cubic foot and with the same imposition of the standard cubic foot price, we must spend at that time 9.848 billion dollars a year,

that is, our gas spending will amount to about 15.6 billion dollars a year only in the combined cycle, and

a simple closer look shows that we consume more than 30 percent of national income only on electricity production plants," he said.  He continued that

"for heavy and crude oil stations that operate with a heat conversion efficiency between (25.5-33.3)%, Iraq in 2030 will need an estimated 4.62 kW according to the plan that every 1 kWh of those stations consume 1160 barrels and during the year and for maximum heat conversion efficiency,

we will need 305.153 million barrels of oil at an average price of say 60 dollars at prices close to today's prices, we will spend 18.3 billion dollars annually".  Latif said that

"countries that spend this amount of money to produce electricity should review their accounts, as

it is supposed to be no more than 5% of their national income,

while Iraq will spend 19.8% of national income,

which is a huge figure in the accounts of countries that are considering their strategic plans in the field of energy and arrange their spending for Sustainable Development and individual well-being.  The national expert pointed to

"some solutions in this area, including the use of nuclear reactors with nuclear power,

which can provide 25% of the energy needs, which covers about 10 kW of the required percentage, pointing out that

the total price of those reactors with this capacity will be up to 40 billion dollars and with the first operation during the first year we will save a total of 8.5 billion dollars of annual electricity spending,

without calculating the carbon yield, which can prevent the emission of 355 million tons per year, which is expected to reach 100 dollars(according to World Bank forecasts by 2030), and

thus we can achieve carbon returns of up to 3.55 billion dollars annually with our achievement The Paris Agreement is more than the voluntary contribution made by Iraq.

That is, we will get a reduction in spending with carbon dividends worth up to 12.0 billion dollars a year, that is,

in four years we will recover all the money spent on reactors, which cannot be achieved in any clean energy source other than nuclear energy," he said.

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