Clean technology company Wasabi Energy is hoping to benefit from the UK’s first nuclear power station in a generation.
The company, whose Kalina Cycle technology turns heat produced from power plants back into electricity, is currently in advanced talks with a number of industrial and renewable companies to launch the technology in the UK.
It expects that the rise in wholesale electricity tariffs from the Hinkley Poinc C nuclear power plant – which has been recently confirmed as a joint venture between the UK Government and EDF Energy – would prove profitable for Wasabi.
“If the proposed Hinkley Nuclear Power Plant strike price of £92.50 per megawatt hour is reflected in the wholesale cost of electricity within the UK, the Kalina Cycle projects being promoted by Wasabi Energy will become exceedingly attractive,” said John Byrne, Wasabi Energy’s chairman.
“As the UK moves to de-carbonise the economy, large scale energy efficiency projects will become increasingly cost effective and attractive for investors and users, providing a clear platform for Wasabi Energy to expand its business in the UK.”
Three Kalina Cycle power plants are currently under construction worldwide with three more undergoing commission in Pakistan, UAE and Japan.
The company is targeting a capital cost of less than $2.5million (£1.54million) per megawatt and production cost of approximately 1c per kWh.
Wasabi’s shares were up 50% in the past five days of trading on the back of the Hinkley Point C deal.
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