Slovakia secures multi-billion dollar nuclear reactor deal with US

On a Tuesday at an annual nuclear conference in Bratislava, Slovakia, Prime Minister Robert Fico revealed that his government has reached an agreement with the United States to construct a new nuclear reactor. This multi-billion-euro project aims to enhance Slovakia's energy infrastructure, where nuclear power already accounts for more than 80% of the country’s electricity generation. The new reactor is planned to be located at the existing nuclear power plant in Jaslovské Bohunice, reflecting a significant commitment to nuclear energy as part of the nation's energy strategy. The reactor is expected to have an output exceeding 1,000 megawatts and is projected to be fully owned by the Slovak state. The total estimated cost for the construction of this reactor is around 15 billion euros (approximately 17.5 billion dollars). The Slovak government previously intended to engage a builder through public tendering; however, recent developments indicate that negotiations for a direct contract with American company Westinghouse are ongoing. The announcement comes in the context of a broader trend of nuclear power expansion in Central and Eastern Europe. As countries in the region strive to enhance their energy security, Slovakia’s move is seen as a pivotal step in bolstering its existing nuclear capabilities. The Czech Republic has also engaged in nuclear expansion by signing a deal with Korea's KHNP for the construction of two additional reactors, while Poland has formalized a contract with Westinghouse for its inaugural nuclear power plant. Hungary, meanwhile, will see the construction of two new reactors by the Russian energy firm Rosatom. The implementation of this agreement and the construction of the reactor will take considerable time and investment. The exact timeline for when the deal will be formally signed and subsequent construction will commence remains unclear, but it reflects Slovakia’s ongoing commitment to a nuclear energy future amid the growing energy demands in Europe and the geopolitical landscape, particularly with the ongoing shifts in energy alliances due to recent global events. As the world moves toward cleaner energy sources, Slovakia seeks to reinforce its role in the nuclear landscape of Europe, capitalizing on its existing infrastructure and expertise in nuclear technology.