Investment Ideas / Are Floating Nuclear Power Plants The Wave Of The Future?

Many people look at nuclear energy like a two-edged sword. There are obvious upsides to nuclear-based power. One such upside is that nuclear power will never run out. Another potentially positive thing about nuclear-based power is that it will reduce the use of fossil fuels, as well as the negative things that come with burning fossil fuels as a power source.

Of course, there are obvious downsides to using nuclear power. One of these downsides is the potential for disaster that comes with the use of nuclear-based power sources. Many people remember the disasters that occurred at Chernobyl and Fukushima. News like this scares people and has limited the places that viable nuclear reactors can be built.

However, there may be a solution that makes the use of nuclear power less expensive and a lot safer. Engineers have begun working with the idea of building nuclear reactors on floating platforms, similar to the rigs that oil drillers use. One such reactor is already being constructed; others are in the planning stages. It is still much too early to tell whether this idea will be safer, or will just cause more problems.

Theoretically, the idea is a good one. Putting nuclear reactors out to sea would at least eliminate a threat to the human population, although it might not be so beneficial to marine life. This idea is still a relatively new one, only one of these platforms has actually been built. There is one in Russia, but it is still early to tell how it will hold up. The floating reactor in Russia is also close to shore, and could still pose a threat to life on land.

Related companies

Country Company Ticker
Canada Cameco Corporation CCJ
USA The Babcock & Wilcox Company BWC
USA NRG Energy Inc. NRG
USA Market Vectors Uranium+Nuclear Engy ETF NLR
USA Global X Uranium ETF URA
Netherlands Chicago Bridge & Iron Company N.V. CBI

References

  1. Jacob Kastrenakes. “Floating Nuclear Power Plants Could Avoid Disasters Like Fukushima”. www.theverge.com. 16 April 2014.

  2. Glenn Mcdonald. “Floating Nuclear Plants Would Ride Out Tsumanis”. www.newsdiscovery.com. 18 April 2014.

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