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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on February 4, 2025

    Featured image for article about Headlines

    ROME (Reuters) - U.S. energy group Westinghouse proposed using decommissioned nuclear sites in Italy for the installation of small modular reactors, with the aim to start construction by 2030, a company official said on Tuesday.

    The move fits with a shift in Italy's energy policy as the right-wing government led by Prime Minister Giorgia Meloni looks to revive a sector that has been dormant for decades.

    The proposal was made by Fabio Presot, Westinghouse commercial sales manager, during a parliamentary hearing. Italy has four decommissioned nuclear sites.

    Edison, the Italian arm of French group EDF, plans to construct two advanced nuclear reactors in Italy by 2040, company executive Lorenzo Mottura told the hearing. The first plant is slated for completion by 2035, and the second by 2040.

    The first small modular reactor technologies would be available by the end of this decade and undergo testing in the early 2030s, he added.

    Energy Minister Gilberto Pichetto Fratin announced in October that Italy was in discussions with several groups, including Westinghouse and EDF, as potential partners for a state-backed company to build advanced nuclear reactors.

    Nuclear power plants have been prohibited in Italy following referendums in 1987 and 2011.

    However, the country is planning to finalise a strategy by the end of 2027 to reintroduce nuclear power, nearly 40 years after it was banned, Fratin said last week.

    The government has stated that small modular reactors and advanced modular reactors could aid in the decarbonisation of Italy's most polluting industries, including steel, glass, and tilemaking.

    (Reporting by Giancarlo Navach, writing by Francesca Piscioneri, editing by Keith Weir)

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