On Tuesday, Latvia's Cabinet of Ministers reviewed a report drawn up by the KEM regarding nuclear energy development opportunities in the country.

According to Minister of Climate and Energy Kaspars Melnis, the primary task is to assess the current situation, compare the possibilities involving various technologies and provide an overview of cooperation with Estonia, reported TVNET (link in Latvian).

"We are talking about modular reactors, which are currently the most advanced in development in Canada, where the first reactor could be [ready] in 2030," said Melnis.

The plan is also to strengthen cooperation with Estonia, and evaluate what that cooperation might entail.

"We need to start working on this if we want to be able to utilize such potential in the future at all," the minister emphasized. "Currently, looking at the overall energy portfolio — which includes hydroelectric power plants (HPPs), cogeneration plants (CHPs), wind and solar — nuclear power plants (NPPs) also have their place, if they can produce with technologically justified indicators."

The most important thing, he added, is that the electricity produced in the future is competitively priced.

This week's government decision will task the KEM with initiating negotiations with Estonia's Ministry of Climate to assess prospects for cooperation in developing a regulatory and supervisory framework for nuclear energy.

It will also explore opportunities for collaboration in the construction and operation of a nuclear power plant, as well as the potential technical and economic benefits of such a joint project, associated costs and possible sources of financing.

Latvia's Ministry of Foreign Affairs must submit a report on the results of these negotiations to the government by November 1.

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