Under the agreement with NNE, Hyundai Engineering plans to support the KRONOS micro modular reactor project at the University of Illinois Urbana-Champaign campus. The project aims to provide heat for the campus and advance its carbon neutrality goals.

The companies will explore engineering, procurement and construction (EPC) opportunities for auxiliary reactor facilities, modular design reviews, supply chain development and business planning. NNE, headquartered in New York and listed on Nasdaq, is developing a high-temperature gas-cooled microreactor.

Partnership Covers ARC-100 Reactor Deployment

Hyundai Engineering has also signed an MOU with ARC Clean Technology to explore cooperation on the first deployment of the ARC-100, a 100-megawatt electric sodium-cooled fast reactor.

ARC is pursuing a commercial demonstration plant at Idaho National Laboratory, with an initial capacity of approximately 200 megawatts and potential expansion to 600 megawatts, according to Hyundai Engineering.

Hyundai Engineering’s Nuclear Experience

Hyundai Engineering said its nuclear engineering experience spans more than four decades and includes 254 nuclear-related projects involving operating reactors, fuel facilities, research reactors and SMR technology.

The company also reported holding approximately 31% of the contract value in competitive nuclear design service bids commissioned by Korea Hydro & Nuclear Power over the past six years.

Its international work includes upgrades to research reactor facilities at Delft University of Technology in the Netherlands and an initial design and consulting contract for a next-generation research reactor at the University of Missouri.

A Hyundai Engineering official said the agreements would expand the company’s capabilities across the project cycle, from design through engineering, procurement and construction, and strengthen its position as a partner in the global SMR market. The Hyundai Engineering SMR initiatives build on the company’s experience across nuclear engineering and project development.

The reforms form part of the government’s ambition to quadruple nuclear power output to 24 GW by 2050. Electricity demand in Britain is forecast to rise by 40% by 2035, according to the National Energy System Operator, increasing the importance of reliable electricity generation.

The Office for Nuclear Regulation (ONR), Environment Agency (EA) and Natural Resources Wales (NRW) aim to reduce reactor design approval periods from approximately three or four years to around two years. The changes follow the 2025 Nuclear Regulatory Review, which identified fragmented oversight, costly regulatory decisions and complex legislation as obstacles to nuclear development.

The review made 47 recommendations, including improved coordination between regulators, more proportionate safety assessments and a fleet-based approach that would reduce the need to repeatedly examine identical reactor designs. The government also intends to streamline planning and environmental approvals, which have contributed to lengthy development schedules and high costs.

Holtec SMR Project Could Test Regulatory Cooperation

Holtec’s proposed SMR-300 deployment in the UK could provide an early test of whether regulatory cooperation between Britain and the United States can reduce approval times.

UK authorities have identified the company’s two-unit SMR-300 project at Palisades in Michigan as the reference design for its UK Generic Design Assessment (GDA). The GDA evaluates a reactor design’s safety, security and environmental acceptability independently of a specific site.

Holtec submitted its Preliminary Safety Analysis Report for Palisades to the U.S. Nuclear Regulatory Commission (NRC) on 30th September 2026. The company intends to use the U.S. design and safety analysis in Britain.

“Our intention is to apply the U.S. design and safety analysis in the UK,” said Patrick O’Brien, Executive Director, Government Affairs and Communications at Holtec International.

Holtec completed Step 2 of the GDA for its SMR-300 in March 2026. The company plans to deploy up to four units with EDF and Tritax at Cottam, a former coal-fired power station in Nottinghamshire, England. The proposed development would provide around 1.3 GW of generating capacity.

Reusing design and engineering work from Palisades could help reduce first-of-a-kind engineering risks and improve schedule and cost predictability. However, the extent to which UK regulators will accept assessments completed by the NRC remains a key factor in determining the potential benefits.

U.S. Reactor Designs Enter UK Assessment Process

Several other U.S. developers are progressing through the British regulatory process. Westinghouse’s 300 MW AP300 reactor entered the GDA process in August 2024. TerraPower’s Natrium reactor formally began its GDA application process in June 2026, while X-energy’s Xe-100 entered the process in September.

TerraPower has not selected a site for its first UK deployment. The company has said the project would represent the first Natrium reactor outside the United States.

X-energy said the GDA remains a rigorous assessment covering safety, security, safeguards and environmental acceptability. Its generic approach allows developers to establish whether a design is acceptable before incurring significant site-specific expenditure.

The company sees similarities with the NRC’s standard design certification process, which allows projects to rely on technology-level assessments rather than repeat every design review. X-energy is working with the ONR and NRC to map U.S. assessments against UK requirements.

A policy introduced by the ONR, EA and NRW in May 2026 provides a framework for the regulators to use assessments conducted by trusted overseas regulatory bodies.

X-energy has selected Centrica as its partner to develop up to 6 GW of advanced nuclear capacity in Britain. The proposed initial development is a 12-reactor, 960 MW project at Hartlepool in northeast England. Centrica owns 20% of Britain’s operational nuclear fleet and holds a 15% stake in the 3.2 GW Sizewell C project in Suffolk.

UK Government Support for Domestic SMR Development

U.S. developers will face competition from Britain’s domestic nuclear programme. Great British Energy-Nuclear has contracted Rolls-Royce SMR to deliver three reactors with a combined generating capacity of 1.4 GW at Wylfa, a former nuclear site on Anglesey in North Wales. The site could eventually accommodate eight units.

Initial work at Wylfa is due to begin in 2026, with the first reactor expected to become operational in the mid-2030s. The UK government has committed more than £2.5 billion to its wider SMR programme, which includes the Wylfa development.

Rolls-Royce SMR also has an established domestic supply chain. The company has spent more than £300 million with suppliers since 2021, with at least 70% of that spending going to UK businesses.

Holtec is evaluating the business case for a UK factory that could serve as a regional component manufacturing hub. Westinghouse signed agreements with six British suppliers in September 2025 to support the construction of AP1000 and AP300 reactors in the UK and other markets.

Stewart Forbes, Counsel at Hogan Lovells Cadwalader said, “The economics of SMRs depend on repeat production and standardisation.” U.S. developers may benefit from their larger domestic market and international manufacturing networks, while Britain’s support for pressurised-water SMRs and Generation IV advanced modular reactors could create opportunities for several reactor designs.

The outcome will depend on how effectively the UK implements its proposed nuclear regulation changes and whether regulators can recognise relevant overseas assessments without compromising safety and environmental standards.

Under the agreement, the companies will explore potential supply of approximately 2 GWh over the next 24 months, comprising 1.5 GWh for projects in Europe and 0.5 GWh in the United States. They will also discuss expanding the total potential supply volume to approximately 4.5 GWh, including 3 GWh in Europe and 1.5 GWh in North America, through LG Energy Solution’s operations in Europe and the U.S.

Energix develops, owns and operates renewable energy and energy storage projects. The company has a long-term growth strategy targeting a global portfolio exceeding 8 GW.

Existing Projects and Potential Collaboration

The battery energy storage agreement builds on the companies’ previous work in Poland, where LG Energy Solution supplied battery solutions for Energix’s Nowe Czarnowo project.

The companies are also discussing potential cooperation on Energix’s Jonava project in Lithuania. The hybrid renewable energy development includes approximately 320 MWh of energy storage capacity and is targeted to begin commercial operations in 2027.

Under the MoU, the companies plan to conduct regular reviews and assess further opportunities across Energix’s renewable energy project pipeline. Their collaboration is intended to support the integration of renewable generation and energy storage, improve grid flexibility and enable reliable clean energy delivery in their target markets.

Expanding Energy Storage Operations

The partnership provides LG Energy Solution with an opportunity to pursue additional large-scale energy storage projects in Europe. The company also plans to build on its activity in North America, where it has been developing its ESS business around power grids and renewable energy projects.

Changbeom Kang, ESS Battery Division Leader at LG Energy Solution, said, “Through our collaboration with Energix, we will expand ESS business opportunities in Europe and North America and further strengthen our global customer base. Leveraging our differentiated technology and local manufacturing capabilities, we will accelerate the growth of our global ESS business.”

Asa Levinger, CEO of Energix group, said, “This agreement marks an important step in strengthening our long-term relationship with LG Energy Solution. We look forward to exploring opportunities to deploy high-quality energy storage solutions across our project pipeline and accelerate the expansion of renewable energy in our core markets.”

The investment in Egypt Renewables Holdings B.V. will give the EBRD a minority equity stake, while Scatec will remain the majority shareholder. The vehicle is intended to finance the acquisition, development and construction of renewable energy infrastructure in Egypt and the wider southern and eastern Mediterranean (SEMED) region.

EBRD Takes Minority Stake in Scatec Investment Vehicle

The equity commitment will provide long-term capital for the renewable energy portfolio, bringing together the EBRD as an institutional investor and Scatec as the majority commercial stakeholder. The vehicle’s initial focus is Egypt, where the planned capacity additions are intended to strengthen energy security and reduce dependence on imported fossil fuels.

The EBRD’s investment of up to USD 221 million is an equity commitment rather than a conventional loan. The Bank says the arrangement will support the development of renewable energy infrastructure through its role as a shareholder, while Scatec gains access to institutional capital to advance its regional growth plans.

The portfolio is planned to include 2.7 GW of solar capacity, 900 MW of wind capacity and 4.2 GWh of battery energy storage. The announcement does not provide a schedule for developing the capacity or identify the individual projects that will be financed through the vehicle.

Energy Security Drives Egypt Renewable Energy Investment

Harry Boyd-Carpenter, Managing Director of the EBRD’s Sustainable Infrastructure Group, said the investment would help address Egypt’s energy challenges.

“This equity investment marks an important step in strengthening Egypt’s energy security,” he said in the announcement. “By partnering with Scatec, the EBRD is providing long-term capital as a shareholder, helping to expand access to reliable renewable energy. This will help to address one of the country’s most pressing development challenges while reducing reliance on imported fossil fuels.”

The planned combination of solar and wind generation with battery energy storage forms the basis of the portfolio’s renewable energy and storage strategy. The EBRD identifies energy security and lower dependence on imported fossil fuels as the principal objectives of the investment.

Scatec Chief Executive Officer Terje Pilskog said Egypt had become one of the company’s most important markets.

“Egypt has become one of Scatec’s most important markets, and this platform reflects both the scale of what we are building there and the quality of the assets we have developed. Partnering with the EBRD brings institutional capital and a long-term commitment that will accelerate Scatec’s growth ambitions across the region.”

Projects Linked to Egypt’s Nexus Initiative

The renewable energy projects supported by the investment will be developed under the energy pillar of Egypt’s Nexus of Water, Food and Energy initiative. The initiative was launched at the COP27 climate conference in Sharm El Sheikh.

According to the EBRD, the energy pillar supports private-sector renewable energy capacity, electricity-network investment, skills development and a just energy transition. The new investment vehicle therefore forms part of a broader institutional framework for advancing Egypt’s energy priorities.

The portfolio’s initial targets include 2.7 GW of solar capacity, 900 MW of wind capacity and 4.2 GWh of battery storage. The EBRD has not disclosed how the equity commitment will be allocated across individual projects or when the planned capacity will be delivered.

EBRD Builds on Existing Partnership With Scatec

Scatec ASA is a Norway-based integrated power producer specialising in renewable energy solutions. Founded in 2007, the company has been listed on the Oslo Stock Exchange since 2014.

The EBRD describes Scatec as a long-standing partner in renewable energy and battery storage projects across the Bank’s countries of operation. The new investment vehicle extends that relationship through a direct equity stake, with Scatec retaining majority ownership.

The arrangement provides a structure for financing the acquisition, development and construction of renewable energy infrastructure in Egypt and the wider SEMED region. The Bank’s participation is intended to provide long-term shareholder capital for the portfolio.

Investment Expands EBRD’s Presence in Egypt

The equity commitment builds on the EBRD’s existing investment activity in Egypt. Since beginning operations in the country in 2012, the Bank has invested more than USD 17.9 billion across 238 projects, according to its figures.

The new vehicle is intended to support renewable energy infrastructure initially in Egypt, with the potential to facilitate projects elsewhere in the SEMED region. However, the EBRD’s announcement does not specify additional countries, individual projects or a timetable for expanding beyond the initial portfolio.

The planned 2.7 GW of solar capacity, 900 MW of wind capacity and 4.2 GWh of battery storage define the initial scope of the investment. With the EBRD as a minority shareholder and Scatec retaining majority ownership, Egypt Renewables Holdings B.V. will provide a structure for pursuing the planned renewable energy and storage development.

The EBRD has committed up to USD 221 million in equity, but the announcement does not disclose a detailed breakdown of the commitment or a completion schedule for the planned capacity additions.

The proposed project is planned for Sinop, in Turkey’s Black Sea region. AtkinsRéalis Chief Executive Officer Ian Edwards said in a LinkedIn post that the company would conduct a feasibility study to advance the potential construction of CANDU reactors at the site.

The development follows an agreement between Canada and Turkey to strengthen their strategic partnership, including cooperation in energy, defence, security, trade and investment. Carney said the Turkish government would make the final decision on the nuclear project, but he believes Canada’s prospects have improved.

AtkinsRéalis Explores CANDU Technology for Sinop

Turkey has held discussions with several countries about its planned second nuclear power plant, including Canada, South Korea, Russia, China and Japan. The proposed facility is planned for Sinop, where AtkinsRéalis is exploring the potential application of its CANDU reactor technology.

Speaking to reporters in Istanbul, Carney said there was active competition for the project and suggested a decision could be made before the end of 2026.

He highlighted Canada’s nuclear technology, partnerships with Turkish businesses and potential to develop elements of the supply chain as factors supporting its proposal.

“If you would have asked us a year ago how we would have pegged the chances, they would have been very low. Now there are good chances. There’s real competition, of course,” Carney said.

The feasibility study is an early step in assessing the potential project. The announcement does not confirm a construction contract, a final technology selection or a construction schedule for the proposed plant.

Canada and Turkey Strengthen Nuclear Energy Cooperation

The nuclear discussions form part of a broader effort by Canada and Turkey to expand economic and strategic cooperation. During Carney’s visit to Ankara, the two NATO allies upgraded their bilateral relationship to a strategic partnership, with energy identified as one of its principal areas of cooperation.

The agreement aims to create further opportunities for Canadian and Turkish businesses through expanded trade and investment. The countries also announced plans to increase collaboration across the energy sector, including civil nuclear energy, liquefied natural gas (LNG) and renewable energy.

For AtkinsRéalis, the potential Sinop project would provide an opportunity to explore the use of Canadian CANDU technology in Turkey’s nuclear power development programme. Carney also pointed to cooperation with Turkish companies in construction and the potential to establish supply-chain links as elements of Canada’s proposal.

Turkey’s government will ultimately determine which partner or technology is selected for the second nuclear power plant. The country has been considering proposals from several international participants, and the feasibility study does not guarantee that AtkinsRéalis will be selected.

Turkey’s Nuclear Programme Includes Multiple Planned Plants

Turkey is pursuing nuclear power development at several locations. Its first nuclear power station is under construction at Akkuyu, in the Mediterranean province of Mersin, by Russia’s state-owned nuclear energy company Rosatom.

The Akkuyu project is being developed under a USD 20 billion agreement signed in 2010. Rosatom said in October 2026 that it expected a nuclear start-up at the site by the end of the year.

Beyond Akkuyu, Turkey plans a second nuclear power plant at Sinop and a third in the northwestern region of Thrace. The potential involvement of AtkinsRéalis in Sinop remains under consideration as Turkey engages with international partners.

The selection of a technology provider and project partner will be a significant step in determining how the second plant proceeds. At present, the AtkinsRéalis feasibility study represents progress in evaluating the CANDU option, rather than confirmation that construction will go ahead with the Canadian company.

Feasibility Study Precedes a Final Project Decision

Carney said the Turkish government would make the final decision on the second nuclear power plant and noted that competition from other international suppliers remains strong. He nevertheless expressed greater confidence in Canada’s position following the strategic partnership agreement.

AtkinsRéalis has identified the Sinop site as the focus of its feasibility work for potential CANDU reactor construction. The study is intended to advance consideration of the technology, while the broader bilateral agreement creates a framework for further cooperation in civil nuclear energy and other sectors.

No final contract, investment amount or construction timetable for the Sinop plant was announced in the report. The next major milestone will be Turkey’s decision on the project and the technology and partners it chooses to pursue.

Announced on 21st October 2026, the financing for the Indiana solar project brings together Royal Bank of Canada (RBC), DNB Bank ASA, Mizuho Bank Ltd., National Westminster Bank PLC and Wells Fargo Securities LLC. Deriva Energy’s Capital Markets team arranged the transaction, which the company says builds on financing structures used across its portfolio.

The Sullivan County Power Project is expected to become the largest project Deriva Energy has built to date. The company said the financing will help advance construction towards completion and commercial operation.

Five Banks Support Solar Project Financing

The USD 540 million financing involves five banking institutions, with RBC serving as both Administrative Agent and Collateral Agent. Legal advisers included Skadden, acting as counsel to the borrower, and Milbank, representing the lenders.

The financing supports the continued development and construction of the 350 MW Indiana solar project. Deriva Energy said the transaction reflects collaboration among its internal teams, financing partners and external advisers.

Paul Tivnan, chief financial officer of Deriva Energy, said the company was pleased to close the financing for Sullivan County Power. He noted that the project’s quality and financing attributes attracted strong demand from relationship banks and resulted in competitive terms.

Tivnan added that the company looks forward to working with the lenders to bring the project to completion.

The participation of five banks provides the project with financing support as construction progresses. For large-scale renewable energy developments, project financing is an important component of advancing construction and preparing facilities for eventual commercial operation.

Sullivan County Project Marks Company Milestone

Once completed, Sullivan County Power will be the largest project Deriva Energy has built, according to the company. The 350 MW installation represents a significant milestone in its development and construction portfolio.

Thomas Hopkins, senior director and head of Capital Markets and Treasury at Deriva Energy, said the financing close followed months of collaboration involving the company, lenders and external advisers.

According to Hopkins, the transaction builds on financing structures previously used across Deriva Energy’s portfolio and establishes a framework that could be applied to projects in its development pipeline.

The company said the financing positions Sullivan County Power to continue through construction towards commercial operation. The source announcement does not provide a completion date or a specific date for the start of commercial operations.

Financing Supports Renewable Energy Development

The Sullivan County project forms part of Deriva Energy’s broader renewable energy portfolio. The company reports nearly 7 GW of operating assets across major U.S. power markets and describes its wider portfolio as including 7 GW of wind, solar and storage assets that are operating or under construction.

Deriva Energy also has a multi-gigawatt pipeline of late-stage projects in development. The company said the Sullivan County financing structure could provide a model for future transactions across that pipeline.

The project is backed by Brookfield, which owns Deriva Energy as a portfolio company. Deriva Energy is headquartered in Charlotte, North Carolina, and develops and operates renewable energy assets across the United States.

Indiana Solar Project Advances Through Construction

The closing of the USD 540 million financing marks a further step in the development of Sullivan County Power. With construction already underway, the funding is intended to support continued work on the 350 MW solar installation.

The transaction combines financing from five banks with Deriva Energy’s project development and capital markets teams. The company expects the project to become its largest completed development to date.

As construction progresses, Sullivan County Power will add to Deriva Energy’s renewable energy portfolio. The company has positioned the financing as part of its wider approach to funding projects and advancing its development pipeline.

The battery system is located alongside the onshore converter station for Ørsted’s Hornsea 3 offshore wind farm. It comprises 170 Megapack battery units designed to store surplus electricity and release it when demand increases, supporting grid balancing and the integration of renewable energy.

The project brings together specialists from Ørsted, Hitachi Energy, Knights Brown and Tesla. Once completed and operational, Iceni is expected to rank among Europe’s largest battery energy storage systems.

Iceni Battery Storage Project Reaches Construction Milestone

The Iceni facility is designed to provide 300 MW of power and 600 MWh of energy storage capacity. According to Ørsted, this is equivalent to the daily electricity consumption of approximately 80,000 UK homes.

The system uses 170 Megapack units installed across two separate areas of the site. These areas are divided by the Hornsea 3 onshore converter station, creating a more complex layout than a conventional battery storage facility with a single connected site.

The two sections are linked by 18 cross-site cables operating at 33 kV, each extending more than 600 metres. Integrating the battery system with Hornsea 3’s shared grid connection has also introduced additional technical requirements compared with a standalone connection to the National Grid.

The successful completion of construction represents an important step towards bringing the storage facility into service. The remaining work includes electrical installation, cable termination, commissioning and preparations to energise the battery storage transformer.

Battery Storage to Support Renewable Energy Integration

Beatrice d’Eufemia, Project Manager for Iceni BESS at Ørsted, said, “It is a milestone moment for Ørsted that construction is now complete on our first large scale BESS in the UK. The system will make the best use of renewable energy produced in the UK as when electricity generation exceeds demand, the excess can be stored and then used when demand is greater, helping balance the grid and lower electricity costs for everyone.”

The facility’s 600 MWh capacity and 300 MW power rating define how much energy it can store and the rate at which it can deliver electricity. Actual operating performance will depend on commissioning outcomes, operating conditions and the requirements of the electricity system.

Complex Site Layout Requires Cross-Company Coordination

The project’s split-site configuration has required close coordination among the organisations involved in construction and electrical integration. The two battery areas must operate as part of a connected system despite being separated by the offshore wind farm’s onshore converter station.

Installing and terminating the 33 kV cross-site cables is a key part of this process. The shared grid connection with Hornsea 3 also adds complexity to the integration and commissioning work.

Richard Swann, Construction Manager for Iceni BESS at Ørsted, said, “It’s a real testament to the hard work, dedication, and co-operation of the team from many different organisations that the construction has been completed successfully.”

The project team includes specialists from Ørsted, Hitachi Energy, Knights Brown and Tesla, combining expertise in energy infrastructure, electrical systems, construction and battery technology.

Project Supports UK Energy Infrastructure Development

The project has also created opportunities for local skills development and employment. David Shillabeer, Head of Transmission & Distribution at Knights Brown, said, “Reaching this milestone is a significant achievement for everyone involved in the Iceni project. Delivering a BESS of this scale has required close collaboration between Ørsted, Knights Brown, and the many other organisations that have contributed to its success. Beyond the engineering, the scheme has enabled us to invest in local people, develop skills, and create opportunities across Norfolk and the wider region. We are proud to have played our part in an important project that will support the UK’s transition to a more resilient, low-carbon energy system, while leaving a positive legacy for the communities in which we work.”

With construction complete, Iceni is moving towards the remaining commissioning and energisation stages before full operation. Its planned 300 MW output and 600 MWh storage capacity are intended to provide additional flexibility for the UK electricity system and support the use of renewable power.

The development marks Ørsted’s entry into large-scale battery energy storage in the UK and demonstrates the role of storage infrastructure alongside offshore wind generation.

The agreement establishes an initial evaluation rather than a commitment to construct the reactors. According to the memorandum, any project timeline “will depend on site selection, financing, utility or offtake arrangements, applicable regulatory and licensing activities, environmental review, transmission and interconnection planning, community and stakeholder engagement, and other diligence and approvals”.

Candu Technology And Deployment Options

The partners will assess potential deployment scenarios for Candu nuclear technology and consider a gas-to-nuclear construction model intended to accelerate the addition of new generating capacity. This approach could include locations where existing power facilities have been retired or are approaching retirement.

Indiana Governor Mike Braun said: “Ensuring affordable electricity and high-wage opportunities for Indiana’s skilled workforce are top priorities. By exploring this technology, we’re evaluating a path to deliver more affordable power while creating the kind of long-term, skilled jobs that strengthen Hoosier communities.”

Candu reactors use heavy water, or deuterium oxide, as a moderator and coolant, and are designed to operate using natural uranium fuel. The technology has been deployed in Canada, Romania, Argentina, South Korea and China. According to the information provided by the project partners, approximately 34 units have been built internationally.

AtkinsRéalis is the original equipment manufacturer and exclusive licence holder for Candu technology. The company’s Enhanced Candu 6 design is a pressurised heavy water reactor in the 700 MW-plus class. It uses natural uranium fuel and online refuelling, allowing the reactor to continue operating while fuel is replenished.

Joe St Julian, president of Nuclear at AtkinsRéalis, said: “This collaboration demonstrates the value of working with our American partners to address shared energy challenges and exploring solutions that strengthen energy security, support skilled jobs and deliver lasting benefits to communities in the state.”

Hoosier Energy President and CEO Donna Walker said: “Through this MOU, Hoosier Energy is pleased to offer our expertise as part of early discussions to evaluate whether advanced nuclear energy could be an option worth considering.”

US Licensing Work And Indiana Nuclear Plans

AtkinsRéalis submitted a Notice of Intent to the US Nuclear Regulatory Commission in June 2026 to begin the licensing process for its technology in the United States. The first public NRC meeting associated with the process took place in August 2026, and the company has submitted the first of seven planned topical reports, covering its quality assurance programme.

The proposed Candu nuclear project comes as other developers assess new nuclear capacity in Indiana. Earlier, American Electric Power, X-energy and Amazon announced a separate feasibility study for a proposed 960 MW advanced nuclear facility at the former Breed Generating Station in Sullivan County.

Both proposals remain at an early stage. The 6 GW initiative will require further evaluation of technical, commercial, regulatory and site-related conditions before the partners can determine whether to proceed with construction.

In Mexico, IFC provided a $222 million loan for a 200-megawatt solar photovoltaic plant. The loan forms part of a $444 million financing package for EDP’s renewable energy operations globally, with Spain’s state financial agency, Instituto de Crédito Oficial (ICO), providing half. The project will add renewable generation capacity as electricity demand grows.

Brazil Investment Targets Electricity Network Reliability

A second investment of about $79 million will help EDP Espírito Santo modernise and expand its electricity distribution network. The Brazilian distributor serves more than 1.8 million customers, who are expected to benefit from more reliable service. Local institutional investors are participating, bringing private capital into infrastructure.

EDP’s Brazilian subsidiary participates in the IFC Future Grids Alliance, an advisory programme focused on grid modernisation in emerging markets. Power plants need dependable networks to deliver electricity to homes and businesses. EDP Group Chief Financial Officer Rui Teixeira said the partnership supports clean energy, infrastructure improvements and jobs.

Financing Addresses Rising Electricity Demand

IFC Division Director Ines Rocha said the transactions strengthen its partnership with EDP amid rising demand. Emerging economies are expected to account for almost two-thirds of global electricity demand by 2035. Meeting that growth will require annual investment in developing-country electricity generation to more than double to $630 billion, with over half expected from private sources.

The World Bank Group has committed nearly $100 billion to energy over the past decade. EDP financing can support renewable generation and electricity networks. The Mexico solar project and Brazil grid upgrades aim to improve supply reliability.

The connection took place while the reactor was operating at 20% of its design power, according to the company. Mochovce-4 has an installed electrical capacity of 471 MW and is expected to produce approximately 3.5 TWh of electricity annually once fully operational. This would represent around 13% of Slovakia’s current electricity consumption.

Commissioning Continues With Further Testing

The grid connection followed inspections and tests of generator protection systems, electrical circuits and equipment required to transmit electricity. Slovenské Elektrárne said the next steps involve synchronising the second turbine generator and conducting additional tests as reactor power increases.

The remaining commissioning programme will assess technological, control and safety systems at progressively higher power levels, including at nominal capacity. Slovakia’s nuclear regulator continues to supervise the process to ensure the unit meets the necessary requirements before entering full commercial operation.

Construction History and Reactor Specifications

The Mochovce-4 reactor reached first criticality on August 6, 2026, after fuel loading was completed in June. The unit uses a VVER-440/V-213 pressurised water reactor design.

Construction of Mochovce-3 and Mochovce-4 began in 1987, but work was suspended in 1991 because of funding difficulties. Development resumed in 2008, eventually leading to the commissioning of the two units at different times. Mochovce-3 connected to the national grid in February 2023 and completed commissioning later that year.

Nuclear Power Maintains a Major Role in Slovakia

Slovakia operates five nuclear reactor units across two sites: three at Mochovce and two at Bohunice. According to data from the International Atomic Energy Agency, the country’s nuclear fleet generated approximately 65% of its electricity in 2025.

The addition of the Mochovce-4 reactor is expected to strengthen Slovakia’s domestic electricity generation capacity. Its projected annual output of 3.5 TWh would make a substantial contribution to national electricity supply once commissioning is complete and the unit reaches full operation.