France's EDF has announced that it has agreed in principle to invest up to GBP1.1 billion (USD1.5 billion) in the Sizewell C nuclear power plant in the UK, taking a 12.5% in the project. A final investment decision on the project has yet to be made.

As energy security and carbon neutrality have become important challenges globally, the demand for nuclear new-builds and life extensions for operating units is rising. However, writes Guen Park, Director of KHNP's Overseas NPP Power Office, the challenge is to deliver nuclear power projects on time and within budget despite global uncertainties, post-pandemic supply chain disruptions and a stricter regulatory environment. The uncertainty from these external factors means that concerns over contracts where one supplier is responsible for engineering, procurement and construction are also increasing.

The giant New Safe Confinement shelter over the remains of Chernobyl's unit 4 was damaged by a drone in February with an initial EUR42.5 million (USD50 million) already pledged for repair work.

Hungary's Foreign Affairs and Trade Minister Peter Szijjarto has said US President Donald Trump sees Hungary as a friend and "it was in this spirit that the US administration lifted the sanctions related to the Paks nuclear plant project".

World Bank Group President Ajay Banga and International Atomic Energy Agency Director General Rafael Mariano Grossi outlined the thinking behind the change in policy at a joint event in Paris. Hear what they said, as well as World Nuclear Association Director General Sama Bilbao y León's assessment of its significance.

The World Bank has taken its first step since ending its ban on funding nuclear energy projects by partnering with the International Atomic Energy Agency to support countries that choose to include nuclear energy in their development strategies. 

The venture capital arm of multinational technology company NVIDIA is among investors in the USD650 million capital raise, which TerraPower says will support the first Natrium plant as well as the company’s plans to rapidly deploy additional units in the US and abroad.

The European Commission has assessed that lifetime extensions and new large-scale reactors planned by member states will need investment of EUR241 billion (USD279 billion) by 2050 - with more needed for small modular reactors and advanced modular reactors.  

The World Bank is ending its long-standing ban on providing funding for nuclear energy projects - and will be open to supporting efforts to extend the life of existing reactors and accelerate the potential of small modular reactors in developing countries.