The nuclear renaissance is no longer a forecast. It's happening.
On May 9th, I wrote a summary of what's happened recently in the nuclear energy space.
Since then, in just over a month, there has been so much happening I feel it's time for another TGIF-rant.
Here's a rundown of just the last few weeks in nuclear energy:
🇬🇧 UK puts all chips on the table
The UK announced a historic £30 billion nuclear investment programme. This includes £14 billion to build two EPRs totaling 3 200 MW at Sizewell C and announcing Rolls-Royce as the winner of the UK SMR competition. The government hopes to sign a contract with Rolls-Royce later this year.
As part of the UK governments push to build up to 12 nuclear-powered submarines, it also includes funding for a nuclear submarine industrial base and around £2.5 billion for fusion energy research.
As Rt Hon Rachel Reeves, Chancellor of the Exchequer, said during the announcement: "Energy security is national security".
I could not agree more.
🇨🇿 Czech Republic signs major deal
Czech Republic finally signs €17 billion deal with KHNP (Korea Hydro & Nuclear Power) to build two new reactors.
Nuclear ties between Europe and Asia are deepening fast.
🌍 World Bank opens the door
For the first time, the World Bank will consider funding new nuclear.
This is a monumental shift in global development policy.
🇺🇸 Meta extends the life of U.S. nuclear
Together with Constellation Energy, Meta will keep the Clinton Power Station running for 20 more years.
Big Tech and hyperscalers are stepping in to secure carbon-free, 24/7 power.
At the same time, Westinghoue targets a $75 billion expansion with dramatically reduced costs through utilising a finalised design, series build and a ready supply chain.
🇯🇵 Japan moves to restart reactors at world's largest nuclear power plant
Tepco has started loading fuel at the Kashiwazaki Kariwa No. 6 reactor (with No. 7 loaded last year).
After local approcal, the reactors can restart.
🇹🇼 Taiwan eyes nuclear restart
Lawmakers have passed a proposal for a referendum on restarting the Maanshan nuclear plant.
Vote expected August 23 if it goes through.
Taiwan shut its last reactor just last month.
🇧🇪 Belgium legalizes nuclear
After 22 years, the nuclear phaseout law in Belgium is dead. The plan to shut down 50% of national electricity supply in 3 years is over.
Belgium is back in the nuclear game.
🇩🇰 Denmark quietly ends nuclear research ban
Yes, Denmark. The 1985 ban on studying nuclear as an energy source is gone — repealed by the antinuclear parties. There are still bans on nuclear in Denmark, but there is also undeniable momentum.
🇸🇪 Sweden votes for nuclear finance reform
What about Sweden?
On May 21st, the Riksdag (parliament) cleared the path for new investments in nuclear but adopting the nuclear financing bill put forward by the government.
This is another step in Sweden’s pivot from phaseout to buildout. Sweden now has one of the best financing frameworks for nuclear in the world in place.
On May 9th, I wrote a summary of what's happened recently in the nuclear energy space.
Since then, in just over a month, there has been so much happening I feel it's time for another TGIF-rant.
Here's a rundown of just the last few weeks in nuclear energy:
🇬🇧 UK puts all chips on the table
The UK announced a historic £30 billion nuclear investment programme. This includes £14 billion to build two EPRs totaling 3 200 MW at Sizewell C and announcing Rolls-Royce as the winner of the UK SMR competition. The government hopes to sign a contract with Rolls-Royce later this year.
As part of the UK governments push to build up to 12 nuclear-powered submarines, it also includes funding for a nuclear submarine industrial base and around £2.5 billion for fusion energy research.
As Rt Hon Rachel Reeves, Chancellor of the Exchequer, said during the announcement: "Energy security is national security".
I could not agree more.
🇨🇿 Czech Republic signs major deal
Czech Republic finally signs €17 billion deal with KHNP (Korea Hydro & Nuclear Power) to build two new reactors.
Nuclear ties between Europe and Asia are deepening fast.
🌍 World Bank opens the door
For the first time, the World Bank will consider funding new nuclear.
This is a monumental shift in global development policy.
🇺🇸 Meta extends the life of U.S. nuclear
Together with Constellation Energy, Meta will keep the Clinton Power Station running for 20 more years.
Big Tech and hyperscalers are stepping in to secure carbon-free, 24/7 power.
At the same time, Westinghoue targets a $75 billion expansion with dramatically reduced costs through utilising a finalised design, series build and a ready supply chain.
🇯🇵 Japan moves to restart reactors at world's largest nuclear power plant
Tepco has started loading fuel at the Kashiwazaki Kariwa No. 6 reactor (with No. 7 loaded last year).
After local approcal, the reactors can restart.
🇹🇼 Taiwan eyes nuclear restart
Lawmakers have passed a proposal for a referendum on restarting the Maanshan nuclear plant.
Vote expected August 23 if it goes through.
Taiwan shut its last reactor just last month.
🇧🇪 Belgium legalizes nuclear
After 22 years, the nuclear phaseout law in Belgium is dead. The plan to shut down 50% of national electricity supply in 3 years is over.
Belgium is back in the nuclear game.
🇩🇰 Denmark quietly ends nuclear research ban
Yes, Denmark. The 1985 ban on studying nuclear as an energy source is gone — repealed by the antinuclear parties. There are still bans on nuclear in Denmark, but there is also undeniable momentum.
🇸🇪 Sweden votes for nuclear finance reform
What about Sweden?
On May 21st, the Riksdag (parliament) cleared the path for new investments in nuclear but adopting the nuclear financing bill put forward by the government.
This is another step in Sweden’s pivot from phaseout to buildout. Sweden now has one of the best financing frameworks for nuclear in the world in place.
If you missed my previous summary, you can read it here:
https://x.com/BuschEbba/status/1920889947156082916
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