| NEWS
deterring private and foreign companies from entering the market. This new model is designed to strike a balance between investor confidence and public safety, aligning India more closely with international best practices. The legislation also proposes setting up a new independent nuclear safety authority to bolster regulatory oversight in line with international standards. It also calls for a dedicated tribunal to handle nuclear-related disputes, intended to streamline resolution and enhance transparency in the sector. Indian aims to scale nuclear power capacity
to 100 GW by 2047 will require significant capital investment, advanced technology and faster execution, which policymakers believe cannot be fulfilled by government funding alone. The SHANTI Bill, if implemented effectively, it could attract billions in investments, catalyse advanced technology partnerships, and support India’s long-term climate and energy goals. In late November, Modi said participation of
private firms in the nuclear sector would create opportunities for small modular reactors (SMRs), advanced reactors, and nuclear innovation. “This reform will give new strength to our energy security and technological leadership.”
Poland NPP attracts financing after EC approval Polish state-owned nuclear project company Polskie Elektrownie Jadrowe (PEJ), responsible for the construction of Poland’s first NPP, said it had received 26 preliminary offers from banks supporting the debt financing for the project, with the total amount several times greater than the required debt capital. A consultation period with more than 30 banks from Europe, Asia and North America over the last quarter of the year showed firm investment interest. The support came after a statement from the
European Commission (EC) approving public aid estimated at PLN60bn ($16.5bn) for the project. PEJ was supported in the market sounding process by a consortium of BNP Paribas and KPMG as financial adviser. The next step will be due diligence involving pre-investment analysis enabling both export credit agencies and commercial banks to submit binding offers and begin negotiating credit documentation. In November 2022, the then Polish
government selected Westinghouse AP1000 reactor technology for the NPP, to be built at the Lubiatowo-Kopalino site in the Choczewo municipality in Pomerania. An agreement setting a plan for the delivery of the plant was signed in May 2023 by Westinghouse, Bechtel and PEJ. In September 2023, an engineering services agreement was signed with Westinghouse and Bechtel to finalise a site- specific design for the three-unit NPP. The total investment costs of the project
are estimated to be about PLN192bn with debt financing accounting for 70% of the investment cost and the remainder coming from Poland’s state budget. In July 2024, the Ministry of Climate & Environment issued a
decision-in-principle for PEJ to construct the plant. According to the draft update of the Polish Nuclear Energy Program (PPEJ – Program Polskiej Energetyki Jądrowej) commercial operation of the first unit is to begin in 2036. PEJ said the 26 offers from banks were in addition to the declaration of intent to collaborate in the project from export credit agencies. These letters of intent showed support from 11 agencies totalling close to PLN 100bn. US credit agencies have shown the greatest interest, with pledges from the Export- Import Bank of the United States (Exim) and the US Development Finance Corporation (DFC) totalling around $19bn, with Exim accounting for about $17.8bn. According to PEJ, the next step will be a
pre-investment analysis phase in which both export agencies and commercial banks will submit binding offers and begin negotiations on the credit documentation. PEJ president Marek Woszczyk was optimistic about the results of the market sounding. “The information we have obtained during the recently completed process will allow us to give the final shape to the financing structure of the project,” he said. Poland has already approved funding of PLN60bn in equity funding to cover its 30% of investment costs in the plant. Work is expected to start on the construction of the first of the three units in 2028. In September 2024, the Polish government had notified the EC about its intention to support investment in the plant with an equity injection of about €14bn to cover 30% of the project’s costs as well as state guarantees covering 100% of debt taken by PEJ to raise the investment. There would also be a two-way contract for difference (CfD) providing revenue stability over the 60-year lifetime of the plant. The following December, EC opened a formal investigation into Poland’s proposed support package for the project. EC said Poland had committed to several
significant adjustments on the basis of which, the Commission concluded that the Polish measure is in line with EU State aid rules. Energy Minister Miłosz Motyka noted that
the EC decision had been made “in record time and, importantly, in accordance with the expectations of the Polish side”. He added: “Nuclear energy will be a key component of Poland’s energy mix. …. Nuclear power will become the cornerstone of Poland’s energy security and will drive our economic growth.”
Russian Federation Bilibino 2 closed Unit 2 at Russia’s Bilibino NPP in the Arctic Chukotka Autonomous Okrug has been closed for decommissioning. Bilibino NPP comprised four unique 12 MWe uranium-graphite pressure- tube EGP-6 reactors commissioned between 1974 and 1976. The EGP-6 reactor (Energeticheskii Geterogennii Petlevoi Reaktor) is a scaled- down version of the larger RBMK design, that uses graphite as a moderator and light water
round up
POLICY THE INTERNATIONAL ATOMIC Energy Agency (IAEA) and Algeria have agreed to strengthen their partnership in the peaceful uses of nuclear science and technology, focusing on energy security and water resource management. The agreement was signed virtually by IAEA Director General Rafael Mariano Grossi and Algeria’s Minister of State, Minister of Foreign Affairs, National Community Abroad and African Affairs Ahmed Attaf.
DURING FRENCH PRESIDENT Emmanuel Macron’s recent visit to China, following talks with China’s President Xi Jinping, the two countries reaffirmed their commitment to “promoting the safe development of nuclear energy and strengthening collaboration across the nuclear energy industry chain”. A total of 12 agreements were signed covering issues ranging from higher education and nuclear energy to panda conservation.
SAFETY & SECURITY AN INTERNATIONAL ATOMIC Energy Agency (IAEA) International Physical Protection Advisory Service (IPPAS) team of experts concluded a 12-day mission in Bangladesh hosted by the Bangladesh Atomic Energy Regulatory Authority. The team reviewed Bangladesh’s nuclear security regime for nuclear materials and facilities, including transport, as well as information and computer security.
JAPAN NUCLEAR FUEL Ltd (JNFL) reported that 650 litres of water containing radioactive materials had spilled from the used fuel pool at the reprocessing plant in the village of Rokkasho, Aomori Prefecture due to the 7.5 magnitude earthquake the previous day. The company said that the pool’s water level remained within the normal range and that there were no safety issues.
THE UK’S OFFICE for Nuclear Regulation (ONR) has served a fire enforcement notice on Bylor JV (a joint venture of Laing O’Rourke and Bouygues Travaux Publics) after identifying significant fire safety shortfalls at the Hinkley Point C (HPC) nuclear construction site in Somerset.
REGULATION FRANCE’S AUTHORITY FOR Nuclear Safety & Radiation Protection has released the results of Phase 2 of a joint early review of the Nuward small modular reactor (SMR) design. The review was conducted jointly with Dutch nuclear regulator ANVS, Poland’s State Atomic Energy Agency, the Swedish Radiation Safety Authority, the Finnish Radiation & Nuclear Safety Authority and the Czech State Office for Nuclear Safety.
www.neimagazine.com | January 2026| 9
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45
