NEA-IFNEC Financing Initiative: Warsaw Conference on Nuclear Financing

***This conference will take place in person.***

Attaining net zero carbon emissions by 2050 will require financing and developing significant capacity of new nuclear power generation in the coming years and decades. To facilitate this process, the OECD Nuclear Energy Agency (NEA) and the International Framework for Nuclear Energy Cooperation (IFNEC) in collaboration with the Ministry of Climate and Environment of Poland launched the NEA-IFNEC Financing Initiative in late 2020, and organised a series of joint webinars on conceptual and practical issues pertaining to nuclear new build financing. The Warsaw Conference on Nuclear Financing will conclude the series and bring together policymakers, finance industry representatives, and nuclear financing experts for in-person discussions in Warsaw, Poland.

Based on the insights developed during this initiative, the NEA has prepared a report entitled Financing New Nuclear Power Plants: Minimising the Cost of Capital by Optimising Risk Management which combines new work on the relationship between optimal risk allocation and nuclear financing in low-carbon energy systems. Key insights from the report will be discussed during the conference.

More information about the programme, speakers and practical details will be announced soon.

Programme

9:30-10:00 High-level remarks

  • Anna Moskwa, Minister of Climate and Environment, Poland
  • William D. Magwood, IV, NEA Director-General
  • Aleshia Duncan, IFNEC Chair

 

10:00-11:15 Session 1: Financing models for nuclear new build: lessons learnt from recent projects

This session will discuss a series of case studies on financing models for nuclear new build based on recent and ongoing projects. The key findings from these case studies will be the opportunity to discuss lessons learnt in terms of project governance, the role of government policy support measures, as well as risk allocation and mitigation strategies.

Presentation: Michel Berthélemy, Nuclear Energy Analyst, NEA

Roundtable discussion:

  • Lauri Piekkari, Senior Vice President, Treasurer and Risk Management of TVO
  • Joe Rippon, Sizewell C Financing Programme Manager, EDF Energy
  • Mihai Darie, Romania Country Manager, Last Energy, United States
  • Kalev Kallemets, Chief Executive Officer, Fermi Energia, Estonia

Moderator: Emma Wong, Consultant, NEA

 

11:15-11:45 Coffee Break

 

11:45-13:00 Session 2: Optimal risk allocation in a low-carbon world and what it means for nuclear finance: the NEA nuclear financing study

This session will focus on the presentation of the new NEA report entitled Financing New Nuclear Power Plants: Minimising the Cost of Capital by Optimising Risk Management, followed by a roundtable discussion with thought-leaders from academia on the key findings of the study.

Presentation: Jan Horst Keppler, Chief Energy Economist, NEA

Roundtable Discussion:

  • Bożena Horbaczewska, Professor of Economics, Warsaw School of Economics
  • John Parson, Deputy Director for Research at MIT’s Center for Energy and Environmental Policy Research (CEEPR)
  • Benoît Peluchon, Senior Researcher, Electricité de France
  • Łukasz Sawicki, Chief Expert for strategy and economic analyses of the nuclear sector, Ministry of Climate and Environment, Poland

Moderator: Paul Murphy, Managing Director, Murphy Energy & Infrastructure Consulting, LLC

 

13:00-14:30 Lunch

 

14:30-15:45 Session 3: Leveraging public and private financing for nuclear new build projects

This session will discuss key challenges and opportunities for nuclear new build financing in OECD and NEA economies. This will include discussion on the respective roles of different sources of public and private financing as well as the importance of key policy frameworks, such as the role of ESG and taxonomies.

Introductory Keynote: Tim Stone, Chairman, Nuclear Industry Association, United Kingdom

Roundtable discussion:

  • Anne Crepin, Deputy Head, Export Finance Department, SFIL, France
  • Daniel Dean, Chairman, Implementation Organisation Strategic Advisory Group, International Bank for Nuclear Infrastructure
  • Anurag Gupta, Chief Risk Officer and Chief Operating Officer, Sequoia Investment Management
  • Hyunshik Hwang, Director of Infrastructure Finance Department, Korea Export-Import Bank, Korea
  • Ashok Pasricha, Managing Director, Engineering and Environment Division, US Export-Import Bank, the United States

Moderator: Milton Caplan, Independent Consultant

 

15:45-16:15 Coffee Break

 

16:15-17:30 Session 4: Policy frameworks to enable investments in nuclear new build in Europe

This session will conclude the conference with a high-level discussion on the policy frameworks to enable investments in nuclear new build in Europe, both at the national and European Union levels.

Fireside Chat:

  • Adam Guibourgé-Czetwertyński, Undersecretary of State, Ministry of Climate and Environment, Poland
  • Tomáš Ehler, Deputy Minister, Ministry of Industry and Trade, Czech Republic
  • Gerhard Waechter, Senior Advisor for EURATOM Coordination, Directorate-General for Energy, European Commission
  • James Hughes, Minister-Counsellor for Economic Affairs at the British Embassy, Warsaw
  • Aleshia Duncan, IFNEC Chair

Moderator: Yves Desbazeille, Director General, Nuclear Europe

 

17:30-19:00 Cocktail reception

 

Interested participants are invited to join a sightseeing tour to the Royal Castle in Warsaw which will take place at 11:00 CET on 9 December.

Organisers

OECD Nuclear Energy Agency

International Framework for Nuclear Energy Cooperation (IFNEC)

Ministry of Climate and Environment - Republic of Poland

With the support of the National Fund for Environmental Protection and Water Management (Republic of Poland).

Practical information

The event is free and will be held in English.

Venue and hotel information

The conference will take place at the Radisson Blu Sobieski Hotel, plac Artura Zawiszy 1, 02-025 Warsaw, Poland.

Interested participants are invited to book their accommodation at preferential rates at the Radisson Blu Sobieski Hotel by 30 November 2022.

In case of any issues, please contact the reservations department by email citing the special price for the Ministry of Climate and Environment: reservation.sobieski.warsaw@radissonblu.com.