Solar Energy Ltd moves into nuclear supply market

Solar Energy Ltd intends to focus its activities in the green energy market by establishing itself at the supply-end of the nuclear power chain: specifically, uranium exploration. Nuclear power, a green energy source with a very low carbon emission footprint, is well established globally, with new reactors coming online annually in North America, Asia, Europe and the Middle East. The company intends to explore prospective uranium properties with an eye to developing economically viable resources in the most productive uranium producing region in the world, the Athabasca Basin, Saskatchewan, Canada.

There are several reasons supporting the company’s decision to pursue opportunities in nuclear energy. Firstly, the political will of the current US government has committed to a renaissance of the nuclear power industry. On February 16, 2010, the US Department of Energy made the following statement,

‘Underscoring his Administration's commitment to jumpstarting the nation's nuclear power industry, President Obama today announced that the Department of Energy has offered conditional commitments for a total of US$ 8.33 billion in loan guarantees for the construction and operation of two new nuclear reactors at a plant in Burke, Georgia. The project is scheduled to be the first US nuclear power plant to break ground in nearly three decades.”

Secondly, the company believes that the uranium market is expanding and therefore highly undervalued at this time. Many resource analysts expect the demand for and price of uranium to increase in the near term. In a 14 August, 2010 article by Cassandra Kyle of the Star Phoenix Star, Cameco Corporation (the largest producer of uranium in the world) she gave the following statement on the future of uranium and nuclear energy, ‘In the nuclear energy sector we've obviously looked beyond the immediate horizon. We know very well that the planet and its inhabitants are going to need ever-increasing supplies of clean energy.’

Solar Energy, which is in the process of assembling a team of experts and specialists to manage exploration acquisitions and activities, believes this to be a season for growth and expansion at the bottom of an important energy market.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/05102010/solar_energy_ltd_moves_into_nuclear_supply_market/