Slovak PM heads to Washington to finalize $15 billion nuclear deal with US

Slovak Prime Minister Robert Fico is preparing for an official visit to Washington, where he is expected to sign an intergovernmental agreement with the United States for the construction of a Westinghouse nuclear power plant in Slovakia. The value of the project is estimated between $12 billion and $15 billion.

This development was reported by Szabolcs Panyi, a journalist for VSquare and Direkt36 who specialises in Central and Eastern European affairs, citing sources familiar with the matter.

"Slovak PM Robert Fico was invited to the White House to sign a ~$12-15B Westinghouse nuclear plant deal, per a trusted source tracking CEE-U.S. diplomacy. The deal was recently finalised. According to current plans, Fico’s visit could happen very soon," Panyi posted.

Prime Minister Fico has previously commented on the planned investment. “We are talking about a new source with an output of 1,250 megawatts (MW), which is a huge source compared to our reactors, which have an output of around 440 MW,” he said in June. He underscored the strategic importance of the project, stating, “We must be self-sufficient in electricity production.”

Fico also emphasised Slovakia’s strong position in nuclear energy. “We are a country that is a model for the world, because today there are five reactors operating in Slovakia, we want to start the sixth one in a short time, each with an output of around 440 MW. We will be a country that will produce the absolute majority of its own electricity, primarily from nuclear power,” he said.

However, the government’s decision to bypass a public tender in selecting the project contractor has sparked criticism. Unlike in the neighbouring Czech Republic, where the bidding process for a new nuclear unit spanned four years, the Slovak government opted for a direct selection process.

According to Slovak Deputy Prime Minister Denisa Saková, the choice was influenced by the limited number of countries capable of executing such a project. Russia is excluded for geopolitical reasons, France’s EDF reportedly lacks free capacity, and South Korea’s KHNP would require a license from Westinghouse to proceed. As a result, Slovakia chose to directly assign the contract to the US-based Westinghouse Electric Company.

Westinghouse is a major American firm specialising in the development, construction, and servicing of nuclear reactors and fuel supplies. The company has a long history of expertise in pressurised water reactors (PWRs). It is jointly owned by the investment group Brookfield Business Partners, which holds a 51% stake, and the Canadian firm Cameco Corporation, which owns the remaining 49%. Cameco is one of the world’s largest uranium producers.

By Tamilla Hasanova