Germany has once again embarked on a war on two fronts this time attempting to phase out its two main sources of reliable baseload power, Nuclear and Coal. Nevermind the fact that during a climate emergency nuclear, despite being almost zero carbon, is being phased out at breakneck speed while coal will languish on the grid for another 15 years. Germany is not alone. In many countries in the EU baseload electricity generation is on the chopping block.

European energy systems are largely following the illogic of what Meredith Angwin calls the "fatal trifecta:" Over reliance on weather dependent renewables, just in time natural gas and imports. The weather is getting no more reliable, EU gas prices are skyrocketting and electricty imports will not be dependable given the amount of generation coming off line over the next decade. This phenomenon will lead to blackouts within the next couple of years according to my guest Kalev Kallemets.

Kalev is the CEO of Fermi Energia, a company of nuclear scientists, energy experts and entrepreneurs looking to bring SMRs to Estonia and other countries in the EU as a vital tool for meeting its climate, economic development and energy independence goals. Kalev argues that ever increasing EU carbon pricing and volatile natural gas prices make an excellent business case for nuclear energy.

Kalev believes that after the difficulties encountered with building 21st century large scale nuclear on budget and on time SMRs using tried and tested light water technology offer the most compelling options going forward. He argues that as has happened with Tesla in the electric vehicle market the private sector can pick a winner in order to deliver the economies of multiples required to make SMRs economic.

The coming European blackouts and SMR opportunities feat. Kalev Kallemets