Russia's ambition to expand its nuclear influence globally is evident in its robust nuclear portfolio. As of June 2024, Russia operates 36 nuclear reactors with a combined capacity of 26,802 MWe and has four additional reactors under construction, totaling another 3,702 MWe. This growth is set against a backdrop of political maneuvers that complicate its reputation as a reliable partner.

Russian President Vladimir Putin's recent visits to North Korea and Vietnam underscore the intricate web of Russia's geopolitical ambitions. These visits, described by the Kremlin as "friendly state visits," have sparked international concern. In North Korea, discussions reportedly included potential collaborations on security and energy, which the White House warned could signify a deepening relationship between two sanctioned states. NATO Secretary-General Jens Stoltenberg expressed concern over the possibility of Russia aiding North Korea's missile and nuclear programs, deepening concerns over non-proliferation commitments. Similarly, in Vietnam, Putin's visit highlighted Russia's intent to establish a "reliable security architecture" in the Asia-Pacific region. During this visit, Russia proposed assisting Vietnam in developing nuclear power plants, reigniting interest in nuclear energy that Vietnam had abandoned in 2016 due to financial constraints and safety concerns following the Fukushima disaster.

However, the geopolitical climate has shifted dramatically. Rahm Emanuel, U.S. ambassador to Japan, recently remarked that Russia's actions signal its intention to become the principal supporter of rogue states that develop nuclear weapons and violate non-proliferation treaties. This stance, coupled with Russia's tight grip on the global nuclear fuel supply—controlling significant shares of uranium conversion and enrichment capacity—poses a strategic risk to countries dependent on its technology and resources.

As the West works to move away from dependency on Russian energy, Russia aims to strengthen its economy by increasing nuclear exports to Africa, where energy demand is rising amid rapid industrialization. African nations, facing challenges in energy security, grid stabilization, and infrastructure, are turning to nuclear power as a renewable energy source. However, reliance on Russian investment raises concerns about long-term dependence and potential vulnerabilities to disruptions. Rosatom recently announced nuclear energy cooperation agreements with Mali, Burkina Faso, and Algeria. These agreements build on Russia’s current construction efforts in Egypt, where Rosatom is constructing a fourth reactor at the El Dabaa nuclear power plant. This project, one of the biggest nuclear construction projects in the world, is being funded by a $25 billion loan from Russia, to be repaid over the next 22 years at an annual interest rate of 3%.

The United States Senate passed the ADVANCE Act, a bill designed to accelerate the deployment of nuclear energy capacity by speeding permitting and creating new incentives for advanced nuclear reactor technologies. Among other provisions, the bill would cut regulatory costs for companies seeking to license advanced nuclear reactor technologies, create a prize for the successful deployment of next-generation reactors, and would speed up licensing for nuclear facilities at certain sites. A version of the ADVANCE Act had previously passed in the House of Representatives and will now go to President Joe Biden for a signature to become law. The U.S. nuclear industry has struggled to expand in recent decades due to soaring costs and complex permitting requirements, and advanced nuclear technologies are proving difficult to fund and develop as a result.

The International Atomic Energy Agency (IAEA) has called for an end to attacks on Enerhodar, a town near the Russian-occupied Zaporizhzhia nuclear power plant in Ukraine, following drone strikes on two electricity substations. The strikes, which Russian-installed officials blamed on Ukraine, temporarily cut power to residents but did not affect the plant's operations. IAEA Director General Rafael Mariano Grossi emphasized the increasing frequency of drone usage near the plant is unacceptable and contrary to established safety principles.

The International Atomic Energy Agency (IAEA) reported a mine explosion near the cooling pond of the Zaporizhzhia nuclear power plant, causing no damage or casualties. IAEA Director General Rafael Mariano Grossi expressed grave concern over the incident, highlighting the fragile safety situation at the plant. This update follows a series of security assessments and safety drills conducted by the IAEA team, emphasizing the ongoing challenges in ensuring nuclear safety amidst the conflict in Ukraine.

The Russian management at the Zaporizhzhia Nuclear Power Plant claims that Ukrainian shelling has destroyed a radiation control post in Velyka Znamyanka in the Zaporizhzhia region. Despite the destruction, plant specialists implemented compensatory measures, and radiation levels remain within safe limits. Both Russia and Ukraine have frequently accused each other of compromising the plant's safety.

Russia has offered to assist Vietnam in developing nuclear power plants during President Vladimir Putin's visit to Hanoi. Alexei Likhachev, head of Rosatom, conveyed this proposal to Vietnam's Prime Minister, Pham Minh Chinh, highlighting various options for cooperation. This development marks a renewed interest from Vietnam in nuclear energy after scrapping similar plans in 2016 due to the Fukushima disaster and financial constraints.

Hyundai E&C has launched a full-scale localization strategy by holding a nuclear power plant roadshow in Bulgaria and signing business agreements with local construction associations and companies to successfully land a construction order for the Kozloduy Nuclear Power Plant. The roadshow was held to publicize Hyundai E&C’s construction capabilities in the field of nuclear power plants and to establish partnerships with local nuclear power institutions. The event was attended by key government officials from South Korea and Bulgaria, including Bulgaria’s minister of energy.

Sri Lanka is advancing its nuclear development plans by drafting legislation to regulate nuclear power generation and seeking expressions of interest from potential investors. Recently, a team of experts from the International Atomic Energy Agency (IAEA) conducted a review to verify the safety of potential sites for the country's first nuclear power plant. Additionally, Sri Lankan legal experts visited IAEA headquarters to discuss amending the Atomic Energy Act to align with international standards, while various international companies, including China's CNNC, Russia's Rosatom, and France's EDF, have expressed interest in investing in Sri Lanka's nuclear infrastructure.

Leaders from across the European nuclear industry published a manifesto outlining their priorities for the new European Commission. In this manifesto, nuclear industry leaders call on European policymakers to implement consistent and coherent policies which facilitate the deployment of nuclear energy, allow nuclear projects to access EU funds and financing, and include the nuclear fuel cycle as an enabling activity under the Sustainable Finance Taxonomy. The manifesto also notes that the EU Nuclear Alliance has recognized that nuclear power could provide up to 150 GW of electricity capacity in the EU by 2050.

The European Union is providing $10.7 million for Framatome’s development of VVER-440 nuclear fuel under the Euratom Research and Training Program. The SAVE project for VVER-440 fuel brings together numerous stakeholders and utilities which operate VVER reactors in the European Union, such as the Czech Republic’s ČEZ, Hungary’s MVM Paks, and Slovakia’s Slovenské Elektrárne. There are 19 Russian-designed VVER reactors currently in operation in the European Union which are historically reliant on Russian nuclear fuel.

Swedish small modular reactor (SMR) project development company, Kärnfull Next, partnered with Finnish SMR developer Steady Energy to introduce small modular reactors (SMRs) for district heating in Sweden. This collaboration will utilize Kärnfull's innovative financing and delivery models to deploy Steady Energy's LDR-50 district heating reactors, with plans for the first commercial plant to begin construction in 2028. The initiative aims to provide sustainable heating solutions for Swedish municipalities, complementing efforts to increase clean energy and support Sweden's net-zero carbon targets.

SaskPower, Westinghouse, and Cameco signed a memorandum of understanding to evaluate the potential of Westinghouse’s nuclear reactor technology and the associated nuclear fuel supply chain required for Saskatchewan’s future clean power needs. The MoU will explore technical and commercial pathways to deploy Westinghouse’s reactor technology, including the advanced AP1000 reactor and AP300 small modular reactor (SMR) for long-term electricity supply planning. SaskPower is expected to make its final investment decision in 2029 whether to proceed with constructing Saskatchewan’s first SMR facility.

The Nuclear Energy Agency held an event of industry and government officials in Prague in which bankers warned that financing nuclear power is a bridge too far for private investors. Cambridge Nuclear Energy Centre financier Simon Taylor stated that the next generation of nuclear reactors will likely need to be financed by taxpayers because private investors aren’t willing to bear the risks associated with building new plans or take on construction costs. Officials have estimated that the world will need to spend $5 trillion in order to triple nuclear power generation over the next 25 years.

Indonesia’s National Research & Innovation Agency (BRIN) has said that the testing and operation of its first commercial nuclear power plant will take place between 2030 and 2034. The head of BRIN’s Nuclear Technology Research Centre, Topan Setiadipura, said in a statement that Indonesia is looking into a 40 MWt small modular reactor design: the PeLUIt-40. Setiadipura said that BRIN targets approval from the Nuclear Energy Regulatory Agency (Bapeten) of the reactor design by 2025 before proceeding to construction approval, hoping that construction of the reactor can begin in 2027.

Czech nuclear energy company ČEZ has submitted its evaluation of bids from Électricité de France (EDF) and Korea Hydro & Nuclear Power (KHNP) to the Czech government for the construction of additional nuclear reactor units at the Dukovany and Temelin nuclear power plants. The evaluation includes a preferred supplier for new nuclear units, although the recommended choice has yet to be made public. Czech Minister of Industry and Trade Jozef Síkela stated that the government will announce the selection of the preferred contender in July.

Estonia’s parliament, the Riigikogu, has passed a resolution supporting the adoption of nuclear energy in the country, paving the way for the creation of the necessary legal and regulatory framework for a nuclear power program. The resolution, Supporting the Adoption of Nuclear Energy in Estonia, says that Estonia’s national development plan up to 2035 must consider the impacts of adopting nuclear energy in order to ensure security of energy supply during the transition to climate-neutral energy production. This will include the development of a draft act on nuclear energy and safety, as well as amending and supplementing existing legislation.

The Norwegian government has appointed a committee to conduct a broad review and assessment of various aspects of a possible future establishment of nuclear power in the country, which must deliver its final report by April 2026. The Ministry of Energy said it has drawn up the mandate for the commission in consultation with several other ministries, with the committee looking to shed light on nuclear power’s suitability for the Norwegian power system. Recently, Norwegian company Norsk Kjernekraft has discussed the possibility of a small modular reactor power plant with the Ministry of Energy.

Indian official Jitendra Singh said that the country’s nuclear power generation capacity will increase by 70% in the next five years, going from 7.48 GWe currently to 13.08 GWe by 2029. This increase will be achieved by adding 7 new reactors, with the Indian government focusing on the promotion and deployment of indigenous nuclear technology. Singh added that along with energy security, health and food security, radio-pharmaceuticals and nuclear medicine, agriculture, and food preservation will also be prioritized.

South Korean President Yoon Suk Yeol announced plans to create a small modular reactor (SMR) industrial hub in the city of Gyeongju in order for South Korea to preemptively secure SMR manufacturing technology. The SMR national industrial complex will be worth $216 million. Yoon added that there are also plans to develop the province of Gyeongbuk into a hub for hydrogen production, and Yoon further confirmed that construction of units 3 and 4 of the Shin Hanul Nuclear Power Plant will proceed as planned.

Poland’s top state-controlled electric utility, PGE, will decide whether it will invest in nuclear energy in the next few years, signaling uncertainty around the Patnow Nuclear Power Plant project that was initiated by the previous government. PGE elaborated that they are at a preliminary stage of project analysis and that the implementation of such a project must be included in the government’s overall strategy regarding the development of the nuclear energy sector. Only after the Patnow project analysis and the new government decides on a strategy will it be clear if PGE will invest in nuclear power.

Indian multi-sector infrastructure firm Megha Engineering & Infrastructures (MEIL) won a contract worth $1.53 billion in a tender floated by the Nuclear Power Corporation of India (NPCIL). The contract includes the construction of two 700 MW nuclear reactors in the southern state of Karnataka. Reuters previously reported in February that India would invest $26 billion in its nuclear energy sector to increase the amount of electricity generation from sources that do not produce carbon dioxide emissions.

Kazakhstan’s President, Kassym-Jomart Tokayev, announced that a referendum on plans for a nuclear power plant in Kazakhstan will be held this autumn. Tokayev stated that there was a comprehensive discussion taking place about a proposed nuclear power plant, adding that the people of Kazakhstan will make the final decision on this issue. Kazakhstan Nuclear Power Plant (KNPP) began preparing a feasibility study in 2018 to justify the need for nuclear power, the choice of the location for plant construction, and to review the plant’s project power output.

The International Thermonuclear Experimental Reactor (ITER) published its revamped project plan which aims to achieve deuterium-deuterium fusion operation in 2035, followed by full magnetic energy and plasma current operation. At the 34th meeting of the ITER Council, there were presentations on progress made in construction, as well as the proposed update of the project baseline. The ITER is a major international project to build a tokamak fusion device designed to prove the feasibility of fusion as a large-scale and carbon-free source of energy.

The government of Niger revoked French company Orano’s operating permit for the Imouraren uranium mine. According to media reports, Niger’s Ministry of Mines did not consider Orano’s plans for development of the deposit to meet with the authorities’ expectations. Imouraren has mineral reserves of over 200,000 tons of uranium (tU), comprising one of the largest uranium reserves in the world. Orano currently produces uranium at several mines in Niger.

Canadian Nuclear Laboratories (CNL) unveiled their fusion roadmap report and announced plans to expand two of its flagship clean energy programs to encompass fusion technologies and accelerate fusion deployment in Canada. The Fusion Energy for Canada report elaborates that CNL will open up its SMR Invitation Process to host demonstration units at the Chalk River and Whiteshell Laboratories to include fusion prototype reactors. CNL also announced the expansion of the Canadian Nuclear Research Initiative program, which enables collaborative research projects with advanced nuclear reactor vendors.

The Rössing uranium mine in Namibia reported a 10% increase in uranium production in 2023 compared to the previous year, producing 6.4 million pounds of U3O8. Around 1.8 million pounds were shipped to western customers, while 3.7 million pounds were shipped and sold to China. Rössing Uranium is now focused on extending the lifespan of the uranium mine beyond 2036, building on the previous 13-year contract with Beifang Mining to commence with a full contract mining service from 2024 to 2036.

Swedish small modular reactor (SMR) development company Kärnfull Next has announced the municipality of Valdemarsvik as a new candidate site to host up to 6 SMR units. The SMR campus in Valdemarsvik is initially planned to host between 4 to 6 small light water reactors, adding between 10 and 15 TWh of electricity generation per year. Kärnfull Next has been conducting site selection and feasibility studies in several municipalities in Sweden since 2022.

Brazilian nuclear utility Eletronuclear won its appeal in the Rio de Janeiro Court of Justice, removing an embargo on work to complete the Angra 3 nuclear reactor. The embargo was imposed on the work in April 2023 due to disputes with the city of Angra dos Reis over agreements relating to environmental compensation payments and also changes relating to the granted planning permission. Work on the Angra 3 nuclear reactor project began in 1984, but has been suspended multiple times since.

Japan’s Nuclear Regulatory Agency (NRA) has approved Kansai Electric Power Company’s long-term reactor management plan for units 3 and 4 of the Ohi Nuclear Power Plant, allowing the units to operate beyond 30 years. With the NRA’s approval, Ohi 3 can now operate until 2031, while Ohi 4 can operate until 2033. Under new legislation, the operators of reactors in use for 30 years or longer can formulate a long-term reactor management plan and gain approval from the NRA to operate reactors for longer than the previous limit of 60 years, with the Ohi reactors becoming the first reactors permitted to operate under this legislation.

The IAEA conducted its Safety Aspects of Long-Term Operation (SALTO) mission at unit 1 of the Angra Nuclear Power Plant in Brazil. During the mission, the team noted the progress in measures taken by the plant’s operator to ensure the safe long-term operation (LTO) of the plant, noting that “the professionalism, openness and receptiveness for improvements to meet and move beyond the IAEA safety standards in operations are commendable.” The team also provided recommendations to further enhance the preparations for safe LTO, such as improving the process of temporary design modifications for LTO and implementing a comprehensive equipment qualification program.

Australia’s main opposition party, the Liberal Party, announced plans to build Australia’s first nuclear power plants if they take back control of the government. The plan includes 7 government-owned reactors being built on the sites of aging coal-fired electricity plants, with the first two being built from 2035 to 2037. The current center-left government, led by the Labor Party, has promised a 43% reduction in carbon emissions below 2005 levels by the end of the decade, but has repeatedly rejected nuclear power generation in Australia.

Norwegian energy supplier Norsk Kjernekraft has submitted a proposal to Norway’s Ministry of Energy for an assessment into the construction of a power plant based on multiple small modular reactors (SMR) in the county of Finnmark. In collaboration with the municipality of Vardø, Norsk Kjernekraft has mapped the energy situation in Finnmark and has proposed a nuclear power plant with a capacity of up to 600 MWe. Norsk Kjernekraft has also submitted proposals for an assessment into the construction of another SMR power plant in the municipalities of Aure and Heim.

The Nuclear Regulatory Commission (NRC) has approved the staff’s proposal to establish voluntary alternative physical security requirements for advanced reactors, applying to non-light water reactors and light-water small modular reactors (SMR) that meet certain criteria related to the potential radiological consequences of an accident or sabotage. The rule would allow such facilities to employ voluntary alternative physical security requirements appropriate to the risk posed by their technology instead of the prescriptive requirements in current regulations for large light-water reactors. The proposed rule is to be published in the Federal Register for public comment once the staff incorporates changes directed by the Commission.

The Department of Energy issued a Notice of Intent (NOI) to fund up to $900 million to support the initial U.S. deployments of Generation III+ small modular reactor (SMR) technologies under the Bipartisan Infrastructure Law. The Department anticipates offering funding in two tiers: the First Mover Team Support tier plans to provide up to $800 million to support up to two first-mover teams of utility, vendor, constructor, and end-users or power off-takers committed to deploying a first plant, while the Fast Follower Deployment Support tier will provide up to $100 million to spur additional Generation III+ SMR deployment by addressing key gaps that have hindered the U.S. nuclear industry in areas such as design, licensing, and site preparation.

BWX Technologies (BWXT) announced the award of the second phase of a contract with the Wyoming Energy Authority to assess the viability of deploying small-scale nuclear reactors in the state as a source of resilient and reliable energy. Under phase 1, BWXT worked with the Wyoming Energy Authority to define the requirements for nuclear applications of base heat and power needs for remote, off-grid applications within the site and also performed microreactor system engineering work. Phase 2 of the contract includes completing conceptual design of a lead microreactor unit and developing a regulatory engagement plan and microreactor fleet model.

Lawmakers in California have approved a $400 million loan to keep the Diablo Canyon Nuclear Power Plant until 2030 after initially expressing concerns over the cost to the taxpayer. There had been criticism and concerns surrounding the loan, with some arguing that taxpayers will end up footing the bill for Pacific Gas & Electric (PG&E) and that the loan will never be paid back to the general fund. Diablo Canyon is California’s only commercial nuclear power station, and the Biden administration finalized up to $1.1 billion in credit payments for the continued operation of Diablo Canyon in 2022.

The Gateway for Advanced Innovation in Nuclear (GAIN) announced that two companies will be provided vouchers to accelerate the innovation and application of advanced nuclear technologies that could lower operational costs at nuclear power plants and further develop molten salt fuel for future use in an advanced reactor. Entergy Operations will work with Oak Ridge National Laboratory to implement a real-time predictive model that could resource manual rounds and resource intensive monitoring efforts currently being employed at nuclear plants. Terrestrial Energy will work with the Pacific Northwest National Laboratory to analyze the fuel salt used in the company’s integral Molten Salt Reactor.

In an interview with Axios, billionaire and TerraPower founder Bill Gates stated that on-demand power from advanced nuclear reactors is the only way to decarbonize the world’s electricity grids. Gates said that while building solar and wind power was important, nations will never build an electricity grid that is sufficient to meet the rising demand for electricity without advanced nuclear power and added that the United States will need to keep up with China in terms of rapidly deploying nuclear power plants. Gates has invested more than $1 billion in reactor developer TerraPower to build advanced reactors such as the Natrium reactor.

Federal nuclear regulators are petitioning the Supreme Court justices to reverse a ruling from a lower court that blocked construction of a temporary nuclear waste storage facility in West Texas. Solicitor General Elizabeth Prelogar stated that temporary storage of spent fuel remains necessary to facilitate the ongoing operation of nuclear reactors and the decommissioning of retired reactors. The question of how to handle commercial waste from nuclear plants has plagued policy makers since plans to create a permanent site in Yucca Mountain lost political support both locally and nationally.

PPL Corporation subsidiaries Louisville Gas & Electric (LG&E) and Kentucky Utilities will build on an earlier assessment of nuclear feasibility at the site of the existing Ghent coal-fired power plant by exploring additional locations and partnerships that could support nuclear energy in Kentucky. PPL’s Research and Development team plans to partner with the Gateway for Accelerated Innovation in Nuclear (GAIN) and nuclear design engineering company X-energy in the next phase of assessments. PPL and GAIN’s prior study at the Ghent facility determined that the site is suitable for a small modular reactor plant.

The National Nuclear Security Administration (NNSA) Office of Defense Nuclear Nonproliferation has awarded $50 million in cooperative agreements to two university consortia to support the science that underlies its nuclear security and nonproliferation missions. The two consortia, led by the University of Tennessee and the Georgia Institute of Technology respectively, will each receive up to $5 million per year for 5 years. These consortia link basic university research with applied laboratory research to advanced technical capabilities in support of the nuclear security and nonproliferation missions of the NNSA.

Members of the Electric Reliability Council of Texas (ERCOT), the Public Utility Commission of Texas (PUCT), and others from the energy industry spoke to the Texas House of Representatives’ Committee on State Affairs regarding potential intermittent power outages this summer. PUCT commissioner Jimmy Gloftelty brought up nuclear energy at the hearing, stating that the time for new policy and financial investment by state leaders for nuclear energy is now. The Advanced Nuclear Reactor Working Group is currently tasked with delivering a plan and recommendations about the future of nuclear energy in Texas to Governor Greg Abbott by the end of the year.

The Information Technology & Innovation Foundation published a report on China’s nuclear energy sector and its increasing deployment of new nuclear reactors. The report argues that the United States is as many as 15 years behind China on developing high-tech nuclear power as Beijing’s state-backed technology approach and extensive financing give it the competitive edge. China has 27 nuclear reactors under construction with average construction timelines of about seven years, and China’s state-owned banks can offer loans as low as 1.4%. The foundation states that if the United States is serious about nuclear power, it should develop a robust national strategy involving more investment in research and development, identifying and accelerating promising technologies, and supporting development of a skilled workforce.

The Conference Board of Canada released a report studying the benefits of constructing new Candu nuclear reactor units. The report found that construction of a four-unit Candu Monark plant would boost Canada’s GDP by more than CA$90 billion ($66 billion) during the construction and operation phases of the project, as well as create over 20,000 jobs over the project’s lifetime. Additionally, each unit built overseas would have a GDP impact of CA$4.8 billion. AtkinsRéalis unveiled its Candu Monark reactor design in November 2023, and it features an output of 1,000 MW, a longer operating life of 70 years, and sustainable design principles to minimize environmental impact.

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