The
history of nuclear energy goes back to the 1930s, when the government of Brazil
hired European professors from different areas of study for their expertise and
guidance into research of nuclear power energy. Nuclear energy was first
utilized in medical purposes in the radioisotope application. The centre for
nuclear energy in agriculture conducts research for the utilization of nuclear
energy in plant absorption making the produce more productive and efficient.
Nuclear energy has taken up shape due to the efforts that have been put by many
state government authorities and also due to setting up of the Centre for
Nuclear Technology Development (CNTD).
Many
new companies have set up their business for the promotion of the utilization
of nuclear energy. According to the study, ‘Nuclear
Power in Brazil, Market Outlook to 2030, Update 2018 - Capacity, Generation, Investment
Trends, Regulations and Company Profiles’, some of the major companies
that are currently working in the domain of nuclear energy development in
Brazil include Westinghouse Electric Company, LLC, EletrobrasTermonuclear S.A.
and Areva SA. Nuclear energy is still in its nascent stage which is yet
receiving funding from various organizations and government in Brazil, making
it a highly attractive industry. The Brazilian Market is new to the idea of
nuclear energy development and hence many companies have entered this segment
which is going to drive this market further.
The
slow development of nuclear energy in Brazil has mainly been due to the fact
that discussion on development of energy resource such as Nuclear Power has
always been in favour of other more convenient and reliable forms of energy
like hydroelectricity and wind. Due to the presence of abundant water
resources, hydroelectricity has always been a priority for all governments and
organizations. However, in the recent decade, all the institutions have
realized the true benefit of nuclear energy. Slowly, this technology has become
a major participant in generation of electricity which is set to change the face
of the entire energy sector in Brazil.
The
number of nuclear power plants in Brazil has been increasing on a constant rate
due to the disadvantages and limitations that are posed by other methods such
as wind or hydroelectricity. The rising electricity consumption has been the
major driver for this industry due the increasing depletion of non-renewable
forms of energy. The growing need for electricity consumption has been the
major factor that led to the innovation in Nuclear Energy.
The
companies are currently investing in updating and upgrading their technologies
in order to minimize the cost effectiveness that is involved with the process
of energy generation via Nuclear Energy. There are not many companies that are
functional in the industry of nuclear energy development which makes this a
potential hotspot for many companies who can invest in this line of business.
The government is also taking up new initiatives along with the government of
USA for the research and development of this new technology. The competition
would include companies working on major projects having significant financial
support. The future of this industry is expected to be bright which would
register strong growth rate.
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Ankur
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