Global Energy News Roundup: December 7

The Forum on Energy weekly news roundup brings together a mix of global energy stories from around the web. It is published every Thursday and is available on Twitter via @forumonenergy

Kepco Wins Bid for NuGeneration Shares

The Korean Electric Power Company (Kepco) has won the bid to acquire all of NuGeneration’s shares. NuGeneration (NuGen) is a UK nuclear power development company that is owned by Toshiba. In a statement, Kepco’s CEO Hwan-Eik Cho said that Kepco means to “progress negotiations to a positive conclusion” so that the proposed acquisition  can meet its target closing of early next year. The acquisition will not be concluded until the documentation and approvals from the UK and Korean governments are agreed upon.

Source: World Nuclear News, Telegraph

United States and Saudi Arabia Aim to Work Together on Nuclear Energy Production

On Wednesday, U.S. Secretary of Energy Rick Perry said that Saudi Arabia is interested in working on a civilian nuclear cooperation agreement with the United States. This would allow U.S. companies to participate in Saudi Arabia’s civil nuclear program.  The two countries will need to negotiate a 123 agreement, which Secretary Perry said will start soon.

Source: Reuters

Russia Starts New Reactor

Russia has started up its newest reactor, Rostov 4, for the first time. The reactor will now go through 25 days of checks, when operators of the Rosenergoatom plant will record the actions of the reactor core.  The reactor is a 1011 MWe VVER-1000 unit and is the last VVER-1000 unit to be built in Russia. This is the third reactor to start at the site in seven years.

Source: World Nuclear News