• Kyrgyzstan and Central Asian SMR Development
• Dutch Molten Salt Reactor Ambition Agreement
• Nuclear Safety Challenges in Ukraine
• European Commission SMR Strategy Consultation
• IAEA Nuclear Fuel Cycle Safety and Security Workshop
• Uranium Market Performance and Structural Fundamentals
• Palisades Nuclear Plant Historic Restart Progress

§Kyrgyzstan and Central Asian SMR Development

Russian President Vladimir Putin announced during his state visit to Kyrgyzstan on November 26, 2025, that Rosatom would study the possibility of constructing the country’s first nuclear power plant utilizing advanced Russian small modular reactor technology. The announcement represents a major expansion of Russian nuclear influence in Central Asia and advances strategic energy security partnerships within the former Soviet sphere.

“Work is underway to assess the possibility of building the country’s first nuclear power plant using advanced Russian small modular reactor technologies, which, I emphasize, meet the strictest safety and environmental protection standards,” Putin stated during bilateral talks with Kyrgyz President Sadyr Japarov. The proposal builds upon a 2022 memorandum of understanding between Rosatom and Kyrgyzstan expressing interest in constructing a small modular reactor nuclear power plant based on the RITM-200N design.

The state visit, concluding with a Collective Security Treaty Organisation summit in Bishkek on November 27, underscored deepening economic and strategic ties between Moscow and Bishkek. Putin emphasized that bilateral trade reached a record $4.1 billion in 2024, with growth of 17% between January and September 2025, while Russian investments in Kyrgyzstan reached approximately $2 billion. Trade between the countries now occurs almost entirely in national currencies rather than dollars, reflecting deeper economic integration.

Beyond nuclear energy, Putin announced plans for a large solar power plant in the Issyk-Kul region and a modern thermal power plant in northern Kyrgyzstan, demonstrating Russia’s comprehensive energy development strategy in Central Asia. Rosatom is also implementing a large-scale program to rehabilitate former uranium mining sites in Kyrgyzstan, leveraging the country’s historical nuclear fuel resources.

The Kyrgyz energy sector faces significant constraints with limited hydroelectric generation capacity vulnerable to seasonal fluctuations and drought, making nuclear energy development strategically important for achieving energy independence and supporting economic development. An SMR facility based on the RITM-200N design could serve base load demand for Kyrgyzstan’s approximately 7.4 million population while potentially positioning the country as a regional energy exporter.

§Dutch Molten Salt Reactor Ambition Agreement

The Netherlands announced major political and industrial support for molten salt reactor development on November 26, 2025, with Thorizon and a coalition of leading industrial partners signing an Ambition Agreement to accelerate deployment of the Thorizon Pioneer demonstrator facility. The announcement came during the “Made for Nuclear” event, where Dutch provinces confirmed engagement in site selection and innovation hub development.

Thorizon, a spin-off from NRG which operates the High Flux Reactor in Petten and manufactures radioisotopes for medical applications, is developing a 250 MWt/100 MWe molten salt reactor targeted at large industrial customers and utilities. The company’s unique approach utilizes a combination of long-lived radioactive waste elements from reprocessed used nuclear fuel and thorium as fuel sources, enabling simultaneous nuclear waste treatment and clean energy generation.

The Thorizon One concept features reactor cores composed of replaceable cartridges every five to ten years, addressing two traditional molten salt reactor design obstacles: material corrosion from extended contact with molten fuel and handling of accumulated used fuel volumes. This innovative architecture represents significant advancement in molten salt reactor technology maturity compared to historical designs, particularly the pioneering Oak Ridge National Laboratory experiments from 1965-1969.

The Thorizon Pioneer will serve as a smaller, non-commercial demonstrator focused on validating the reactor core without electricity production, representing the first nuclear molten salt installation operating in Europe. Multiple Dutch provinces, including North Holland and Zeeland, confirmed assessment of potential sites for the demonstrator facility, ideally locations already licensed for research reactor activities.

Financing combines private investment from Positron Ventures and Invest-NL with public funding from regional development agencies and European Commission support through the Joint Transition Fund. The company secured grants from the French government and received prioritization within the European Commission’s EU SMR Alliance, reflecting high-level political backing for molten salt reactor development across multiple governments.

Thorizon is conducting pre-feasibility studies at three nuclear-designated sites in France, Belgium, and the Netherlands, with construction targeting initiation by 2030. The company engaged in joint preparatory safety review discussions with Dutch, French, and Belgian nuclear safety authorities, establishing regulatory foundations for European molten salt reactor licensing and deployment.

§Nuclear Safety Challenges in Ukraine

The International Atomic Energy Agency and international governments continued expressing grave concerns about nuclear safety in Ukraine during week 48, with all three operating nuclear power plants forced to reduce electricity output following Russian attacks on critical electrical substrates on November 19 and throughout the reporting period.

The United Kingdom’s statement to the IAEA Board of Governors on November 19 emphasized that the ongoing military conflict poses unprecedented threats to nuclear safety infrastructure, stating “Russia is holding nuclear safety hostage” through deliberate targeting of power transmission systems essential for nuclear facility cooling and safety systems. The Zaporizhzhia nuclear power plant, seized by Russian forces since March 2022, experienced a 30-day extended blackout during the reporting period, relying entirely on vulnerable emergency diesel generators not designed for sustained long-duration operation.

“Diesel generators are not designed for long-term operation; they are vulnerable to fuel shortages – which are foreseeable in a warzone – and mechanical failure – any of which could compromise reactor cooling and lead to a nuclear safety incident,” the UK statement warned. “Let me be clear: these risks would not exist if Russia had not invaded Ukraine. It is Russia’s aggression that poses the greatest threat to Ukraine’s nuclear safety and security.”

The European Union statement to the IAEA Board of Governors characterized Russia’s attacks as “conscious acts of aggression carried out with full awareness of their implications,” violating December 12, 2024 board resolutions protecting nuclear safety. Russia’s targeting of substations forced Khmelnytskyi and Rivne nuclear power plants to implement emergency measures, with the combination of ongoing attacks threatening the structural integrity of grid infrastructure required for coordinated nuclear safety protocols.

The IAEA maintained continuous monitoring missions at Ukraine’s nuclear facilities, with Director General Rafael Grossi emphasizing that continued attacks increase risks of catastrophic nuclear accidents with transboundary consequences affecting multiple countries across Central and Eastern Europe. The upcoming 10th Review Meeting of the Convention on Nuclear Safety scheduled for April 2026 will address serious safety issues and improvement strategies necessitated by the ongoing conflict.

§European Commission SMR Strategy Consultation

The European Commission published its formal call for evidence on November 9 to shape the upcoming Small Modular Reactor strategy scheduled for publication in the first half of 2026. The four-week consultation period ending December 4, 2025, invited stakeholder input on accelerating SMR development and deployment across European Union member states.

Dan Jørgensen, Commission Commissioner for Energy and Housing, mandated to support SMR development, characterized the SMR strategy as addressing three strategic imperatives: achieving carbon neutrality by 2050, eliminating energy imports from Russia through domestic clean energy development, and enhancing European economic competitiveness through advanced nuclear technologies.

SMRs and advanced modular reactors offer multiple advantages including simpler designs, enhanced safety features, factory-based production cost-effectiveness, and reduced construction and operational expenses compared to traditional large-scale reactors. Over ten EU member states expressed interest in SMR development and deployment in their updated national energy and climate plans, recognizing SMRs as important contributors to decarbonization strategies alongside renewable energy.

The European Commission’s June 2025 Nuclear Illustrative Programme outlined comprehensive nuclear energy investments across EU member states, including SMRs, recognizing their role in achieving 2050 climate neutrality. The consultation invited input on key challenges including regulatory harmonization, financing mechanisms, supply chain coordination, workforce development, and international technology partnerships necessary for scaled SMR deployment.

International cooperation frameworks including partnerships with the United States and South Korea feature prominently in European SMR strategies, with multiple member states pursuing bilateral agreements for technology transfer and joint development initiatives. The consultation addresses how EU-wide coordination can complement national initiatives while respecting member state energy sovereignty and technology preferences.

§IAEA Nuclear Fuel Cycle Safety and Security Workshop

The IAEA convened its Workshop on Management of the Interface Between Safety and Security for Nuclear Fuel Cycle Facilities at Vienna headquarters from November 24-28, 2025, bringing together international experts and member state representatives to address critical challenges in coordinating safety and security protocols across the nuclear fuel cycle.

The workshop addressed recommendations established in INFCIRC/225 Revision 5 addressing nuclear security at nuclear material and facilities, and IAEA Nuclear Security Series Publication No. 14 covering radioactive material and associated facilities. Particular emphasis focused on implementing IAEA Safety Standards Series No. SSR-4 covering nuclear fuel cycle facility safety and managing interfaces between nuclear safety and nuclear security protocols.

Feedback from IAEA activities indicated member states require enhanced understanding and practical implementation strategies for managing safety-security interfaces at nuclear fuel cycle facilities, prompting the week-long technical exchange. Discussions addressed protective measures essential for preventing unauthorized access to nuclear materials while maintaining operational efficiency and worker safety at enrichment, conversion, fuel fabrication, and reprocessing facilities.

The workshop provided platforms for peer-to-peer exchanges among member states with varying nuclear fuel cycle capabilities and experience levels. Developing nuclear programs benefited from guidance offered by operators and regulators from established nuclear countries, while experienced nations evaluated emerging practices and innovations advancing fuel cycle security.

§Uranium Market Performance and Structural Fundamentals

Uranium markets maintained resilience during week 48, with spot prices fluctuating around $76-80 per pound despite production capacity recoveries by Kazakhstan’s Kazatomprom and supply reassessment. The pullback from October highs of $82.50 per pound reflected profit-taking and market consolidation rather than fundamental demand deterioration.

Trading Economics data on November 23 showed uranium futures at approximately $77-78 per pound, representing a 6.88% monthly decline from October 31 peak but maintaining 3% growth compared to November 2024 levels. Long-term contract pricing remained substantially higher at approximately $85 per pound, indicating sustained utility demand for fixed-price supply commitments.

Physical uranium fund accumulation activities continued supporting market fundamentals, with Sprott Physical Uranium Trust and Yellow Cake continuing strategic acquisitions. These institutional purchases effectively remove material from already constrained markets, supporting spot price floors while institutional investors accumulate long-term positions aligned with nuclear capacity expansion projections.

The uranium market structure featured traders and financial institutions representing 60-70% of spot trading volume, dramatically up from only 5% in 2000, while utilities and producers declined to 30-40%. This transformation reflects growing institutional interest in uranium as a strategic commodity aligned with clean energy transitions and nuclear capacity expansion programs globally through 2050.

DataM Intelligence forecasts suggest the global uranium market will reach $13.59 billion by 2032, representing 4.86% annual compound growth during 2025-2032. Market analysts project long-term prices achieving $90-110 per pound under base case scenarios supported by scheduled reactor startups, utility inventory management, and steady mining supply growth trajectories.

§Palisades Nuclear Plant Historic Restart Progress

The Holtec Palisades nuclear plant in Michigan entered its final restart phase during week 48, with commercial operations expected by late 2025. The 3,350 MWe facility’s restart represents a historic milestone as the first complete decommissioning-to-operations restart of any US nuclear power plant.

Palisades originally shuttered operations in May 2020 after 50 years of service as a BWR/3 Boiling Water Reactor operated by Consumers Energy. Holtec International acquired the facility in 2022 and initiated comprehensive refurbishment programs including steam generator replacement, component upgrades, and comprehensive system testing to prepare the plant for resumed operations.

Following NRC approval and fuel delivery completion, Palisades authorization for return to commercial service completes regulatory review and licensing renewal procedures. The restart supports Michigan’s clean energy objectives and demonstrates nuclear facility life extension strategies applicable to multiple aging reactors facing retirement decisions across the United States.

The successful Palisades restart positions additional decommissioned facilities including Diablo Canyon Unit 1 in California and Duane Arnold in Iowa as candidates for potential operational return, representing emerging opportunities for nuclear capacity retention through extensive facility modernization and regulatory approval processes.

References: World Nuclear News - Homepage November 27, 2025 24.kg - Russia small modular reactors Kyrgyzstan Putin November 26, 2025 IntelliNews - Putin arrives Kyrgyzstan state visit November 26, 2025 Anadolu Agency - Putin constructing Kyrgyzstan first nuclear power plant November 25, 2025 DEMCON Thorizon - Molten salt reactor development Dutch collaboration January 14, 2025 World Nuclear News - Dutch support molten salt reactor demonstrator November 26, 2025 NucNet - Netherlands molten salt reactor startup Thorizon September 3, 2024 Holland High Tech - Netherlands molten salt nuclear reactor development January 14, 2025 European Commission - Commission invites views Small Modular Reactor strategy November 10, 2025 IAEA - Workshop Management Interface Safety Security Nuclear Fuel Cycle November 24-28, 2025 UK Government - Nuclear Safety Security Safeguards Ukraine IAEA statement November 19, 2025 EU External Action Service - EU Statement IAEA Board Governors Ukraine November 20, 2025 CATF - Nuclear energy stocktake COP30 November 11, 2025 American Nuclear Society - Industry Update November 2025 November 16, 2025 World Nuclear News - New build developments November 27, 2025 Trading Economics - Uranium price chart November 23, 2025 Discovery Alert - Uranium market volatility 2025 trends November 10, 2025 NCSL - News Reactor November 2025 November 27, 2025 World Nuclear Association - Small Modular Reactors status November 24, 2025 BBC - UK most expensive place develop nuclear power November 23, 2025 GISREPORTS - Holding up progress small modular reactors November 24, 2025

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