A finance-focused edition examines the significance of the declaration of support by 14 international banks for the goal of tripling nuclear capacity - and also hears from some of the key decision-makers about the challenges for private finance in new nuclear, and their ideas for smoothing that path.

A group of 14 global financial institutions have expressed their support for the call to action to triple nuclear energy capacity by 2050.

The Swedish government is proposing investments of over SEK1 billion (USD97 million) in 2025 to expand fossil-free electricity production. This includes an expanded investment in pilot and demonstration projects in the area of nuclear power and in streamlining the permitting process for new reactors.

Eletronuclear says a study by Brazil's National Bank for Economic and Social Development has concluded that the cost of abandoning construction of the part-built Angra 3 nuclear power unit could be about BRL21 billion (USD3.7 billion).

There is an increasing willingness to consider investing in new nuclear projects - but issues remain around the lengthy investment timelines and perceived regulatory risks, a panel at World Nuclear Symposium heard.

The Sizewell C nuclear power plant project is set to benefit from up to GBP5.5 billion (USD7.2 billion) in subsidies from a new development expenditure subsidy scheme announced by the UK Department for Energy Security and Net Zero.

US microreactor developer Last Energy announced it has raised USD40 million for its Series B round of funding, bringing total capital raised to USD64 million since the company's founding in 2019. It also said it has now reached commercial agreements for 80 of its microreactors.

The Tennessee Valley Authority Board of Directors has approved a further USD150 million in additional advanced funding to support the development of potential small modular reactors at the Clinch River site near Oak Ridge, Tennessee.

A Swedish government study has proposed that state aid be given to companies for investments in new nuclear power following an application procedure. It says a new legislative act should regulate conditions for receiving the support, the support measures, and what an application must contain.

Canadian Nuclear Laboratories and Business Development Bank of Canada have announced a lead investment of CAD10 million (USD7.3 million) each in Canadian private fusion developer General Fusion. Meanwhile, the US Department of Energy has awarded USD4.6 million in 17 awards to fund public-private partnerships for fusion research.


 

The European Commission has approved, under EU state aid rules, the Dutch government's plan to invest EUR2 billion (USD2.2 billion) in the construction of the new Pallas research reactor in Petten, the Netherlands.

Brazil's Eletronuclear has extended by 45 days the deadline for publishing responses to the consultation on the proposed bidding contract for completing the works at Angra 3.