My fascination with nuclear power started at a young age; being from Bermuda, it was my dream to introduce a clean and reliable source of energy to the island, which is small enough to have its energy demands met by a nuclear reactor that can fit on a submarine. Indeed, this was my motivation to pursue nuclear engineering; and now, I find myself working at Rolls-Royce Submarines Ltd. Howbeit, the dream is not lost; and I am reminded that nuclear reactors were first developed to power naval vessels well before innovations led to their civilian applications.

For the first time, all UK Overseas Territories had the opportunity to be represented at the United Nations’ Climate Change Conference in 2024, or COP28. Without having ratified the Paris Agreement (COP21), Bermuda committed itself to meeting, or beating, all internationally-agreed targets of achieving “Net Zero” by 2050.

Indeed, Belco is supporting that journey towards a sustainable future by evaluating carbon-emission offsetting and other renewable-energy technologies; and by educating on behavioural changes to reduce power consumption. Unfortunately, our appetite for power is insatiable; and, as many countries, even very windy ones, will testify, achieving “Net Zero” will be very difficult without a nuclear option; and so, why not go nuclear?

It offers ready, reliable, resilient, and importantly, cheap, electricity

“Bermuda” and “nuclear” are two words that do not often appear together in the same sentence; and top results from any quick internet search include: “Remember When … A Soviet Nuclear Submarine Sank off the Coast of Bermuda”?.

Indeed, as an island community vulnerable to the effects of climate change, Bermuda is exposed to increasingly severe, and frequent, storms and rising sea levels; so, it may not be appropriate/sensible to install a fixed, land-based power plant.

However, with the advent of small modular reactors and other advanced-reactor technologies, companies such as Core Power and Saltfoss (formerly Seaborg) envisage deploying floating nuclear power plants (FNPPs), or power barges, to nearshore and offshore environments to provide continuous, clean power “whatever the weather”.

In theory, a fleet of FNPPs would be towed to the customer without the need for complex site preparations; and the commissioning, maintenance, refuelling and waste would be managed by a central yard.

Of course, a lot of this relies upon the qualification of next-generation nuclear reactors, or Gen IV designs, which prioritise passive safety; for example, by operating at, or near, atmospheric conditions, decay heat can be removed via natural circulation of the coolant; and the risk of a large-scale radioactive material release is low. Therefore, the emergency planning zone may be limited to the boundary of the FNPP although it should be noted that the EPZ for naval pressurised-water reactors at Portsmouth Naval Base extends for several kilometres.

External hazards can challenge nuclear safety and FNPPs should be designed to withstand extreme weather events and all other maritime conditions. Indeed, the deterministic safety case should demonstrate integrity of the reactor core, and containment of the fuel, in such “worst-case” scenarios. However, there may still persist the risk of mooring failure and/or grid-connection damage. Given enough warning, FNPPs could be shut down safely and/or moved out of the way of a hurricane.

Operating like a nuclear battery, with few moving parts, one FNPP could generate several megawatts of continuous electricity over several years without needing to be refuelled. A fleet of FNPPs could improve Bermuda’s water security through nuclear desalination; and it would also support grid electrification.

Certainly, Bermuda has shown itself to be a local leader in decarbonising public transport by deploying an all-electric fleet of transit buses ahead of its 2024 deadline; and yet, it could play an even bigger role by accelerating the action to address climate change in the international markets.

Why do FNPPs need Bermuda?

Despite the recent progress in advanced reactor technologies, their adoption has been slow due to low public perception and investment readiness, which are driven by operational and financial first-mover uncertainties, so Bermuda could offer a first-of-kind demonstration of how to license FNPPs.

Yes, FNPPs could make attractive targets to terrorists; however, the threat of piracy in the North Atlantic is very low and Gen IV reactors typically employ low-enriched uranium fuels, or HALEU, of approximately 10 per cent U235 (low-enriched uranium), which would make them less valuable than those ships already moving large amounts of highly-enriched uranium around the world.

Moreover, as a British Overseas Territory, the UK has a duty to protect Bermuda and support its maritime resilience. One of the more important achievements at COP28 was securing a commitment from the Department of Energy Security and Net Zero to support a climate change fund dedicated to support the climate-vulnerable populations of its “global family”. Unfortunately, some of the proposed budget has recently been cut to increase defence spending.

A different application of FNPPs that would benefit from Bermuda’s specialist services is civil maritime propulsion — using nuclear power to sail for years without refuelling and without carbon emissions. Indeed, hundreds of naval nuclear reactors are already in operation around the world.

The challenge is to adapt that technology for commercial use, and the race to decarbonise shipping has already begun. As next-generation technologies unlock true-zero-emission power for heavy industry and transport, there is a need to modernise the maritime nuclear licensing, insurance and classification frameworks. For example, when is an FNPP a ship and when is it a facility? And if the EPZ is limited to the boundary of the FNPP, does liability not extend beyond the vessel?

The 1962 Brussels “Convention on the Liability of Operators of Nuclear Ships” was an attempt to establish an international framework for nuclear ship operators: the operator shall be absolutely liable for any nuclear damage caused by nuclear incident; and the operator shall be required to maintain insurance, or other financial security, covering his liability for nuclear damage.

Whilst it was never ratified, this outdated treaty/convention presents the first stumbling block in the deployment of nuclear-powered commercial/merchant vessels: no ship, or offshore installation, can operate without valid insurance. But insurers typically preclude coverage for nuclear, chemical, biological and radiological events.

At COP28, Bermuda declared its ambition to become the “climate risk capital of the world”; and that its world leading (re)insurance market would play an ever-growing part in providing financial security and recovery mitigation for those most affected by climate change; so, again, FNPPs need Bermuda.

Bermuda is a global hub for the insurance, reinsurance, and captive insurance markets and it is often referred to as a “one-stop shop” because it concentrates regulators, underwriters and other service providers (eg, legal, financial, and consulting firms) in one location.

The island has become a preferred destination for businesses seeking tailored risk-management solutions that cater to niche markets and complex risks. Its well-developed infrastructure and favourable regulatory environment encourage the development of specialised insurance products and services; in particular, captive insurance, which can manage risks that traditional insurers are unable, or unwilling, to cover, and given the lack of suitable solutions in the commercial market, this should include business lines for maritime nuclear power (coverage for physical damage, liability associated with contamination due to a nuclear event and other exposures across marine liabilities).

There is a need to insure nuclear-powered vessels. Bermuda’s expertise in risk assessment and regulatory compliance would provide the industry with the assurance it needs to explore the potential of maritime civil nuclear power. For those insuring the world’s nuclear-powered fleet, it could become a very lucrative business.

Moreover, its strategic location offers global access and significant market opportunities; positioned between North America and Europe, the island is conveniently placed between two big nations that are already considering bilateral agreements to create “green shipping” corridors.

Finally, cybersecurity is another critical challenge that must be addressed, and Bermuda’s comprehensive Cybersecurity Strategy goals may be adapted to include the protection of nuclear maritime systems from espionage and attacks, or at least to develop the legislation and/or international collaboration thereof.

• Seth Wilson is a Bermudian senior nuclear safety engineer at Blykalla, developing the deterministic safety analysis case for the Swedish Advanced Lead Reactor. He is also a senior visiting lecturer at Imperial College London