Azarga Uranium Corp. on Tuesday hailed the significant role of nuclear energy in reduction plans set forth by the Environmental Protection Agency's (EPA) Clean Power Plan.
The Clean Power Plan aims to cut carbon emissions by 32 percent in electricity-generating plants by 2030 and also promotes the use of low-carbon sources of energy, including solar, wind, hydroelectric and nuclear.
It also allows states to claim credits for future carbon-free electricity based on planned nuclear plants or those under construction.
"The Clean Power Plan for the U.S.A. is a great boost to the potential for nuclear power to grow in what is currently the largest nuclear power-producing country in the world," Alexander Molyneux, chairman of Azarga, said. "The plan highlights the importance of future uranium supply, particularly when we consider the U.S.A. has a significant domestic supply shortfall."
The Nuclear Energy Institute and Nuclear Matters both said nuclear power currently generates approximately 63 percent of low-carbon electricity in the U.S.
Azarga said the nuclear power industry is currently seeing growth. The company specializes in mineral development, specifically in uranium. It has six uranium projects and prospects within the U.S.
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