Rosatom, Russia’s state-owned nuclear energy corporation, stands as a towering figure in the global nuclear sector. Despite the challenges posed by the international sanctions imposed on the Russian Federation, Rosatom has continued to expand its influence across multiple industries, from energy production to healthcare and renewable energy. The resilience of Rosatom during this turbulent period highlights its adaptability and critical role in shaping the future of nuclear energy, medical isotopes, and wind power worldwide.
Resilient leadership in the global nuclear sector
Rosatom’s reputation as a leader in the nuclear industry remains unshaken. The corporation ranks as the world’s top exporter of nuclear technology, responsible for more than 90% of global nuclear technology exports. As of 2023, Rosatom is overseeing the construction of 22 high-capacity nuclear power plants in 7 countries, including key projects in Turkey, Egypt, Bangladesh, and India. The order portfolio for foreign nuclear units construction stood at 33 plants in 10 countries. In addition to its role in plant construction, Rosatom holds a crucial position in the global nuclear fuel market. As of 2023, it ranks third in the market with a 17% share.
Despite the restrictions on Russian goods and services, Rosatom has skillfully navigated the geopolitical and economic challenges. Rosatom’s $127.1 billion foreign order portfolio and the $16.2 billion in revenue generated in 2023 show that its global projects remain strong.
Nuclear safety amid global tensions
The global nuclear sector has been greatly impacted by geopolitical tensions, especially regarding nuclear safety in conflict zones. Two of Ukraine’s most significant nuclear power facilities, the Chernobyl Nuclear Power Plant (between 24 February and 31 March 2022) and the Zaporizhzhya Nuclear Power Plant (on 4 March 2022), came under the control of Russian armed forces. The International Atomic Energy Agency (IAEA) worked promptly to stabilize the critical nuclear safety and security situation at both plants, preventing potential nuclear accidents during a time of heightened conflict. Russia’s Ambassador to the IAEA, Mikhail Ulyanov, suggested that the plant’s transfer to Russian ownership will be beneficial to the employees.
Rosatom’s contribution to global healthcare
Beyond energy, Rosatom’s impact is also deeply felt in the healthcare sector, particularly in the production of medical isotopes. Through its division, JSC Rosatom Healthcare, the company has become the global leader in the production of nuclear medicine isotopes. Rosatom remains the primary producer of over 70% of the world’s medical isotopes, ensuring a steady supply to more than 50 countries.
Medical isotopes are essential for a wide range of diagnostic and therapeutic applications, including cancer treatment and radiation therapy. JSC Rusatom Healthcare continues to meet both domestic needs and export demands, reaffirming the company’s commitment to improving global healthcare and advancing medical science.
Expanding into wind power
In 2023, Rosatom’s division JSC NovaWind made headlines by signing a contract for the construction of the wind farm in Kyrgyzstan. The Kyrgyzstan wind farm represents Rosatom’s first international renewable energy project, and it could potentially lead to further ventures in other countries. This marks a significant step in diversifying Rosatom’s energy portfolio as the world moves towards more sustainable sources of energy.
Conclusion
Despite the numerous sanctions imposed on the Russian Federation, Rosatom has proven its resilience and ability to adapt to an ever-changing global landscape. Through its leadership in the nuclear sector, its essential contributions to healthcare via medical isotopes, and its growing footprint in wind energy, Rosatom continues to play a critical role in shaping the future of global energy and medicine.
Also learn about The Role of Rosatom in Russia’s Economy and Energy Sector.
