New build
The International Atomic Energy Agency (IAEA) has increased its projections for global nuclear energy capacity, forecasting a more than threefold increase by 2060. This growth is anticipated to be significantly supported by small modular reactors (SMRs) and the extension of operating licenses for existing reactors. The IAEA's high-case scenario projects nuclear generating capacity to reach 1,284 GWe by 2060, up from 377.1 GWe at the end of 2025.
China's nuclear construction program, the largest globally, is implementing standardized designs, management models, and advanced procurement strategies to overcome challenges in parallel project delivery, supply chain resilience, and specialized talent development. State Nuclear Power Technology Corporation (SNPTC) is targeting a 56-month construction schedule through these measures.
Proxima, a company spun out from the Max Planck Institute for Plasma Physics, has announced plans to establish Germany's first high-temperature superconducting (HTS) tape production facility in Lower Saxony. This initiative aims to bolster European supply chain resilience for fusion energy components and other advanced technologies.
The nuclear energy sector is undergoing a significant re-evaluation of reactor technologies, fuels, sizes, and applications, driven by increasing electricity demand from emerging technologies. This re-examination is attracting substantial investment and commercial interest in diverse reactor concepts, including advanced fission and fusion designs.
Bannerman has announced the completion of funding for its Etango uranium project, following a strategic investment and joint venture with CNNC Overseas Limited (CNOL). This development resolves the final funding hurdle, positioning the project for a Final Investment Decision (FID) and progression towards becoming a new greenfield uranium producer. Early construction works are on schedule, and detailed design and procurement activities are nearing completion.
Enviro Infra Engineers, through its subsidiary Suyog Urja Limited, has received a Letter of Intent from Tata Power Renewable Energy Limited for a 180 MW wind EPC project in Parli, Maharashtra. The contract, valued at ₹224.19 crore, includes civil foundation works, balance of plant, and 33 kV transmission line construction, with completion expected by March 31, 2027.
The nuclear energy sector is experiencing a significant increase in investment interest, with calls for improved project structuring and risk allocation to facilitate capital flow. Discussions at a recent Finance Summit highlighted the need for the industry to better articulate investable projects to a growing pool of interested financial institutions.
India's power system development for 2035 emphasizes anticipatory transmission, commercially viable storage, and robust project execution. Supply chain resilience is a key concern, with efforts underway to increase localization and supplier visibility to reduce reliance on imported components and manage long-term demand.
ABB and Rolls-Royce SMR have signed a Memorandum of Understanding to collaborate on small modular reactor (SMR) technology. The partnership aims to deliver low-carbon electricity globally, reduce project risks, and enhance delivery certainty for SMR projects.
SMRs aren't just creating new reactors. They're rebuilding industrial capability. Rolls-Royce SMR has confirmed that Siemens Energy will manufacture key steam turbine components for the first three UK SMRs at its Newcastle facility. At first glance, this looks like another supplier announcement....
Construction has commenced on the second Hualong One unit at the Zhaoyuan nuclear power plant in China, with the first concrete pour for the unit's basemat completed on September 5. This marks a significant step in the development of the plant, which is projected to eventually house six Hualong One units and represents a substantial investment in China's nuclear energy infrastructure.
Argentina is progressing with its RA-10 multipurpose nuclear research reactor project, aiming for commissioning by late 2024 and full operation by 2027. The reactor, designed to produce medical radioisotopes and support scientific research, is currently 96% complete. The project involves private capital for its associated production plant and is expected to generate foreign exchange through exports in a specialized global market.