COP28: UAE signs deal with Bill Gates' nuclear company on advanced reactors

Bill Gates' advanced nuclear reactor company TerraPower LLC and the United Arab Emirates’ state owned nuclear company ENEC said on Monday they have agreed to study the potential development of advanced reactors in the UAE and abroad.

The memorandum of understanding comes amid a push by the UAE to expand its nuclear energy capacity, and a pledge by over 20 nations at the COP28 climate conference in Dubai to triple nuclear deployment this decade to fight climate change.

“For the UAE, we're looking for a future for the clean electrons and molecules that will be brought to reality by advanced reactors,” said Mohamed Al Hammadi, CEO of ENEC, during the signing ceremony.

"Bringing advanced nuclear technologies to market is critical to meeting global decarbonization targets," said TerraPower President and CEO Chris Levesque.

The UAE currently has one traditional nuclear power plant, near Abu Dhabi, which began producing electricity in 2020. TerraPower, meanwhile, has a demonstration project underway for its advanced Natrium reactor in the US state of Wyoming that hopes to come online in 2030.

Advanced reactors are meant to be smaller, easier to build, and more dynamic than traditional plants, and are regarded by some as vital complement to intermittent power sources like wind and solar that are expanding rapidly.

The MOU between TerraPower and the UAE said they would explore uses for advanced nuclear reactors such as storing power on the grid and providing the energy needed to produce hydrogen, and decarbonise coal, steel and aluminum plants.