Ahab Abdel-Aziz, Gowling WLG Partner and the firm's global director of nuclear energy, was a member of a high-level World Nuclear Association panel on the economics and financing of nuclear power projects last week in London. The panel discussion took place as part of the association's annual symposium.

Commenting on the market conditions forcing the closure of existing nuclear reactors, Abdel-Aziz noted that much can be learned in markets where projects are proceeding — such as Russia, China, Korea and India.

These countries, Abdel-Aziz said, "have political support for the creation of a hospitable environment for the program or project; a hospitable regulatory environment; and the economic capacity to dedicate billions of dollars and wait many years for the return. And they have the political capacity to stand behind the completion of that project should things go sideways, which they sometimes do."

This is in stark contrast to many Western nations, which have the economic capacity to take on large-scale nuclear projects — but may not have the political support to do so, he added.

Abdel-Aziz has been a leader in the global nuclear sector for more than 25 years. He has advised key Canadian and international industry participants on policy and legislative development, nuclear project development and finance, and licensing and compliance. He is also an accomplished litigator who has represented clients in technically complex civil and regulatory disputes, including recent multi-billion dollar nuclear project arbitration.

In addition to Abdel-Aziz, the World Nuclear Association panel included:

  • Kirill Komarov, first deputy director general for corporate development and international business, Rosatom
  • Jay Wileman, president and CEO, GE Hitachi Nuclear Energy
  • Bradley Fewell, senior vice president of regulatory affairs and general counsel, Exelon Generation
  • Edward McGinnis, deputy assistant secretary for international nuclear energy policy and cooperation, US Department of Energy

The Gowling WLG Nuclear Energy Group is at the forefront of the industry's revitalisation. Our global team of experienced legal professionals delivers hands-on legal and strategic guidance in all aspects of nuclear power operations at every stage — from project development and financing to regulatory affairs.