“Small is beautiful”, proclaimed the classic 1973 book by British economist Ernst Schumacher, challenging the century’s mania for gigantic projects. He opposed nuclear power, among the largest industrial endeavours of his time, multibillion-dollar assemblages of concrete, steel, wires and uranium. But the emerging nuclear power renaissance, driven by data centres, combines the small and the large.
On Wednesday, e-commerce and web services giant Amazon said it would be an anchor investor in a $500 million fund-raising by X-energy, a new developer of small modular nuclear reactors (SMRs). Amazon also said it would support SMR projects in its home state, Washington, as well as in the data centre hotspot of Virginia.
Amazon and X-energy intend to have more than 5 gigawatts of SMRs operational by 2039. This is approximately equal to the 5.6 gigawatts of conventional large nuclear reactors at the UAE’s Barakah plant.
Nuclear electricity in China costs 6.5 US cents per kilowatt-hour - cheaper than gas. But the cost in the US is 10.5 cents, and in Europe, 14 cents
Last week, tech rival Google also ordered six to seven SMRs from Kairos Power, while last month, Oracle said it would use three SMRs to power a more than 1 gigawatt centre and meet “crazy” needs for power. Microsoft had announced it would buy electricity from the infamous Three Mile Island nuclear power plant, site of a 1979 accident, if its owner restarts it.
These are welcome steps forward for nuclear power. Outside a few countries such as China and the UAE, nuclear capacity has been going backwards for years, as ageing reactors were closed down and not replaced, new plants took decades to build and run heavily over-budget, and countries such as Germany phased-out operational sites.
The improvement in renewable energy such as wind and solar, sharp falls in costs for battery storage and, in the US, a glut of cheap shale gas, made nuclear power economically uncompetitive. Environmentalists, often adhering to 1970s-era orthodoxies and fears of nuclear accidents such as Chernobyl in 1986, campaigned heavily against new nuclear investment, and overregulation and legal challenges drove up construction times and costs.
But three factors may create a more radiant future.
First, climate. At the Cop28 talks in Dubai last year, a group of more than 20 countries, including the UAE, US and UK, affirmed a goal of tripling nuclear capacity by 2050 as a source of reliable low-carbon electricity.
Second, energy security. The Russian invasion of Ukraine and the cut-off of much of Europe’s gas made the continent, and other isolated energy markets such as Japan, South Korea and Taiwan, aware again of the value of power generation which is not affected by weather and whose fuel can be stockpiled for years. But Western countries and allies want to steer clear of Chinese or Russian reactors and fuel, so they need to rebuild decades of atrophied domestic capability.
Third, electricity demand is rising again in developed countries, after decades when it barely grew. Demand for electric heating, air-conditioning and battery cars is one component.
The explosive rise of data centres is another, driven by the artificial intelligence boom. Even if the overall electrical needs of data centres are not huge, they are very significant in specific areas, far-exceeding local capacity in areas such as Virginia. Meeting this need with renewables is difficult as the best solar and wind sites are distant and constructing new transmission cables across state borders is a regulatory thornbush.
But to answer these needs, new nuclear plants need to be much quicker and cheaper to build. The International Energy Agency estimates that nuclear electricity in China costs 6.5 US cents per kilowatt-hour, which is cheaper than gas, and reasonably competitive with large-scale solar or wind power. China builds numerous plants in sequence and has managed to standardise them and train up its workforce.
But the cost in the US is 10.5 cents, and in Europe, 14 cents. New reactors are rarely built, face endless public and legal challenges, excessive and often capricious regulation, and lack of expertise from developers whose last serious construction programmes were in the 1970s or 1980s.
New reactors are rarely built, face endless public and legal challenges, excessive and often capricious regulation
SMRs promise the needed improvement. A conventional nuclear reactor may typically be about 1,000-1,400 megawatts. SMR designs, by contrast, range from a few megawatts, designed for remote communities, isolated industries or military sites, or ships, to Rolls-Royce’s 470MW unit, really a medium-sized reactor. X-energy’s system features 80-megawatt reactors which can be bundled into a “four-pack”.
SMRs cover a wide range of designs, from variants of traditional models, to radical new concepts. They are often intended to be inherently safer than conventional reactors, not requiring external cooling, the problem that hit Japan’s Fukushima plant in 2011 when its backup diesel generators were swamped by a tsunami.
Their biggest selling point is that they should be quicker and, eventually, cheaper to build than large conventional reactors. Many of their components will be fabricated in assembly-line fashion, gaining manufacturing experience and lowering costs by standardisation. On-site construction and changes of plan, the bane of many new nuclear sites, will be minimised. Financial exposure will be less, lowering the risk and cost of capital.
Unlocking the promise of SMRs needs deep-pocketed, long-term and risk-tolerant investors. After several false turns and doors barred firmly by engineering, finance or regulation, the industry may finally have found its key in cash-rich Amazon, Google and Microsoft.
Some Middle East countries are also awake to the promise of SMRs, as their net-zero carbon and data centre ambitions grow. In December, the Emirates Nuclear Energy Corporation signed co-operation agreements with X-energy and three other SMR developers. Saudi Arabia’s King Fahd University of Petroleum and Minerals is working on its own SMR design, and the kingdom is co-operating with South Korea on its Smart reactor.
SMRs are still a tough sell in the Gulf, even with its booming electricity needs, given the abundance of land for cheap solar power backed up with batteries. Yet the tech giants’ commitments demonstrate confidence as well as urgency to meet vast energy projections. Artificial intelligence may be the parent to beautiful small reactors.
Robin M Mills is chief executive of Qamar Energy, and author of 'The Myth of the Oil Crisis'
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Company%20profile
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Sun jukebox
Rufus Thomas, Bear Cat (The Answer to Hound Dog) (1953)
This rip-off of Leiber/Stoller’s early rock stomper brought a lawsuit against Phillips and necessitated Presley’s premature sale to RCA.
Elvis Presley, Mystery Train (1955)
The B-side of Presley’s final single for Sun bops with a drummer-less groove.
Johnny Cash and the Tennessee Two, Folsom Prison Blues (1955)
Originally recorded for Sun, Cash’s signature tune was performed for inmates of the titular prison 13 years later.
Carl Perkins, Blue Suede Shoes (1956)
Within a month of Sun’s February release Elvis had his version out on RCA.
Roy Orbison, Ooby Dooby (1956)
An essential piece of irreverent juvenilia from Orbison.
Jerry Lee Lewis, Great Balls of Fire (1957)
Lee’s trademark anthem is one of the era’s best-remembered – and best-selling – songs.
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
More from Neighbourhood Watch:
More from Neighbourhood Watch:
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
RESULTS
2.30pm Jaguar I-Pace – Conditions (PA) Dh80,000 (Dirt)
1,600m
Winner Namrood, Antonio Fresu (jockey), Musabah Al Muhairi
(trainer)
3.05pm Land Rover Defender – Maiden (TB) Dh82,500 (D)
1,400m
Winner Shadzadi, Tadhg O’Shea, Bhupat Seemar
3.40pm Jaguar F-Type – Maiden (TB) Dh82,500 (Turf) 1,600m
Winner Tahdeed, Fernando Jara, Nicholas Bachalard
4.15pm New Range Rover – Handicap (TB) Dh87,500 (D) 1,400m
Winner Shanty Star, Richard Mullen, Rashed Bouresly
4.50pm Land Rover – Handicap (TB) Dh95,000 (T) 2,400m
Winner Autumn Pride, Bernardo Pinheiro, Helal Al Alawi
5.25pm Al Tayer Motor – Handicap (TB) Dh95,000 T) 1,000m
Winner Dahawi, Antonio Fresu, Musabah Al Muhairi
6pm Jaguar F-Pace SVR – Handicap (TB) Dh87,500 (D) 1,600m
Winner Scabbard, Sam Hitchcock, Doug Watson
If you go
- The nearest international airport to the start of the Chuysky Trakt is in Novosibirsk. Emirates (www.emirates.com) offer codeshare flights with S7 Airlines (www.s7.ru) via Moscow for US$5,300 (Dh19,467) return including taxes. Cheaper flights are available on Flydubai and Air Astana or Aeroflot combination, flying via Astana in Kazakhstan or Moscow. Economy class tickets are available for US$650 (Dh2,400).
- The Double Tree by Hilton in Novosibirsk ( 7 383 2230100,) has double rooms from US$60 (Dh220). You can rent cabins at camp grounds or rooms in guesthouses in the towns for around US$25 (Dh90).
- The transport Minibuses run along the Chuysky Trakt but if you want to stop for sightseeing, hire a taxi from Gorno-Altaisk for about US$100 (Dh360) a day. Take a Russian phrasebook or download a translation app. Tour companies such as Altair-Tour ( 7 383 2125115 ) offer hiking and adventure packages.
UAE currency: the story behind the money in your pockets
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Mohammed bin Zayed Majlis
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
CONFIRMED%20LINE-UP
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'Texas Chainsaw Massacre'
Rating: 1 out of 4
Running time: 81 minutes
Director: David Blue Garcia
Starring: Sarah Yarkin, Elsie Fisher, Mark Burnham
START-UPS%20IN%20BATCH%204%20OF%20SANABIL%20500'S%20ACCELERATOR%20PROGRAMME
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More from Neighbourhood Watch:
Basquiat in Abu Dhabi
One of Basquiat’s paintings, the vibrant Cabra (1981–82), now hangs in Louvre Abu Dhabi temporarily, on loan from the Guggenheim Abu Dhabi.
The latter museum is not open physically, but has assembled a collection and puts together a series of events called Talking Art, such as this discussion, moderated by writer Chaedria LaBouvier.
It's something of a Basquiat season in Abu Dhabi at the moment. Last week, The Radiant Child, a documentary on Basquiat was shown at Manarat Al Saadiyat, and tonight (April 18) the Guggenheim Abu Dhabi is throwing the re-creation of a party tonight, of the legendary Canal Zone party thrown in 1979, which epitomised the collaborative scene of the time. It was at Canal Zone that Basquiat met prominent members of the art world and moved from unknown graffiti artist into someone in the spotlight.
“We’ve invited local resident arists, we’ll have spray cans at the ready,” says curator Maisa Al Qassemi of the Guggenheim Abu Dhabi.
Guggenheim Abu Dhabi's Canal Zone Remix is at Manarat Al Saadiyat, Thursday April 18, from 8pm. Free entry to all. Basquiat's Cabra is on view at Louvre Abu Dhabi until October
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
