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Thursday, November 05, 2026

The ‘Blue Wave’ Means Nothing if We Don’t Stop the National Defense Authorization Act

As taxpayers, we are funding our own endgame, but we don’t have to.



Anti-War activists gathered outside the Internal Revenue Service offices in Manhattan for a demonstration on the “traditional” deadline date to file taxes to protest federal tax dollars being spent on the Pentagon and all US wars.

(Photo by Erik McGregor/LightRocket via Getty Images)

Melissa Garriga
Nov 05, 2026
Common Dreams


Tuesday night’s election results proved that a majority of people in this country do not want war and genocide. Polling overwhelmingly showed that the war on Iran was one of the biggest motivating factors in voting. So why are we about to give the very people voters rejected an unprecedented $1.5 trillion budget to continue their reign of death and destruction? Why are we going to allow Congress to hand over the largest war budget in human history to weapons manufacturers and AI tech billionaires who work at the behest of known war criminals?

In the next few weeks, Congress is set to pass what should be viewed as the deadliest piece of legislation of our time—the 2027 National Defense Authorization Act (NDAA)—or the country’s defense budget, as it is more commonly known. Its potential passage is setting US taxpayers up to be the funders of their own demise by giving carte blanche to a department of war criminals and their humanity-destroying techno-fascist friends with an obscene $1.5 trillion treasure chest to control, murder, oppress, and destroy the planet as we know it.

Sounds a bit hyperbolic? Not if you look at their past and what they are openly saying now, as a prologue.

If you were watching a summer blockbuster and the main characters were handing over their hard-earned money and essentially their trust to the person you know is going to assassinate them in the final act, you would be screaming at the screen, “Don’t do it!”

To understand why this war budget is a catastrophic time bomb, you first have to understand what it actually funds. Under the guise of providing national “security” and protecting “democracy,” the annual Pentagon budget does little of both. Instead, the budget, which consistently fails its financial audits, is a mechanism to funnel billions of dollars into the pockets of weapons manufacturers, who make the very weapons that murder men, women, and children and destroy the planet. Well over half of the discretionary budget each year goes directly to private contractors.

Between 2020 and 2024, the Pentagon designated roughly $2.4 trillion out of $4.4 trillion in discretionary spending to private industry. But hey, at least those private companies are providing much-needed jobs for America’s workforce, right? Well, not so fast.

According to the Climate and Community Institute, employment at military contractors has plummeted over the past three decades: from an estimated 3.2 million workers during the Reagan military-spending peak in the mid-1980s to 1.1 million workers in 2020. The drop occurred even as Pentagon budgets rose 22% over the same period. Meanwhile, the industry’s top recipients of military contracts, Lockheed Martin, Raytheon, General Dynamics, and Boeing, pay their CEOs a combined salary of almost $100 million a year. They are literally making a killing off the killing of others.

And now, not only are we draining our pocketbooks for weapon company CEOs, but we are also subsidizing tech-overlords whose recent main objective is to move jobs and agency away from the working class to robots, as well as use that very technology to mass surveil those who oppose it. The Pentagon is requesting an unprecedented $58.5 billion this year for an artificial intelligence program. This program is already responsible for the February 28 Minab School massacre that murdered at least 156 schoolchildren and staff.

Even more frightening, the money for that deadly program is set to go to the most insane lineup of anti-worker villains, including Sam “bad things should happen to benefit AI” Altman; Peter “if you’re evil, you’re not bad” Thiel; and Elon “AI will make jobs irrelevant” Musk. They’re openly telling us they don’t need humans anymore. Meanwhile, they are building their bunkers so that when the United States military finally plunders away all the resources around the world, they can survive.

Why are we handing the military $1.5 trillion to do all this? As it stands, US taxpayers are already paying $116.43 million every hour for war and terror. That’s more than $4,000 in weapons and war costs for the average taxpayer last year alone. Both figures will likely double, since the Trump administration’s request tops former President Joe Biden’s already bloated $1 trillion. Meanwhile, nearly 30% of people have to finance groceries, and 45,000 people will likely die because they lack health insurance or access to affordable healthcare.

If you were watching a summer blockbuster and the main characters were handing over their hard-earned money and essentially their trust to the person you know is going to assassinate them in the final act, you would be screaming at the screen, “Don’t do it!”

But that is exactly what is happening right now, and in fact, many are screaming.

Polls consistently show that Americans are moving away from a war-centric approach to foreign affairs. Almost two-thirds of people in the United States disapprove of President Donald Trump’s war on Iran, and 60% disapprove of the US-supported genocide in Gaza. Similarly, 59% of voters believe the proposed $1.5 trillion Department of Defense budget is too high, and 3 in 5 voters (58%) prefer directing government funds toward domestic priorities like healthcare rather than military or war spending.

The voices are there, but most of those with the power to stop it aren’t listening or are too invested in the war-industrial complex to care. Which begs the question: How can we even call ourselves a democracy, much less its defender, when we, the people, seem to have no agency outside of voting and the majority’s demands are ignored?

This administration, as did previous ones, proudly ignores what the majority is begging for: an end to the genocide in Gaza and the occupation of Palestine; an end to the war on Iran that was started for no reason and is currently sustained through the administration’s pompous arrogance; an end to Immigration and Custom Enforcement’s reign of terror across the United States; an end to the AI-data center boom that is chipping away at our humanity and livelihoods; and reinvestment into the things that will actually keep us safe, such as healthcare, housing, and climate justice.

Make no mistake, the $1.5 trillion set to go to Pete Hegseth’s war department is not funding our security; it is funding our endgame and stealing from our lifelines. If passed, it will be nearly impossible to undo the damage that will come. We all must unite around this—healthcare workers, environmentalists, teachers, journalists, students, veterans—and make democracy actually work for the people before it’s too late. We have to let those we elected to work for us know that this is a red line that humanity cannot afford to cross.

History shows that public pressure can influence policies. Our collective voice can change this country’s trajectory—if we mobilize now. We don’t have to fund our endgame; we can say no. Join us in DC November 10-13 as we demand our country stop funding war and start funding life.


Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.

Melissa Garriga
Melissa Garriga is the communications and media analysis manager for CODEPINK. She writes about the intersection of militarism and the human cost of war.
Full Bio >

 

Floating nuclear power plant 'has boosted air quality'




An environmental monitoring report for Russia's floating nuclear power plant suggests that emissions have fallen almost 80% since it started supplying heating in the area in 2022.
 
(Image: Rosatom)

According to the operators of the Akademik Lomonosov floating nuclear power plant in Chukotka, on eastern Russia's Arctic coast (pictured above), "after transferring a significant portion of the city's heating load to the floating nuclear power plant, gross emissions of pollutants into the atmosphere decreased almost fivefold - from 11.64 to 2.281 tonnes".

There are 11 automated radiation monitoring stations, plus four in the city of Pevek - population of 5,000 - as part of the environmental monitoring.

The report says that measurements of air emissions, water discharges, soil impacts and waste generation "all comply with established standards. On average, these levels are less than 10% of the maximum permissible values".

According to Russia's state nuclear corporation Rosatom, monitoring of the Chaunskaya Bay in the East Siberian Sea also shows no significant changes. This means, they say, the ecosystem is not experiencing any negative impact from the nuclear power plant.

Chukotka Governor Vladislav Kuznetsov said: "The environmental agenda is our region's number one priority. The Arctic is a fragile and vulnerable territory, and we must work here with particular attention to nature, human health, and the future of Pevek."

Dzhumberi Tkebuchava, First Deputy Director General of Rosenergoatom, said: "The floating nuclear power plant is of great importance for Chukotka and the Russian Arctic. It is a unique energy facility, closely monitored by the entire international community … the industrial environmental monitoring system at each of our nuclear power plants is evolving and improving year after year, as evidenced by the annual improvement in their environmental impact."

The Akademik Lomonosov

The Akademik Lomonosov began commercial operation in May 2020 and is the world's only operating floating nuclear power plant. It is based, with its coastal infrastructure, by the city of Pevek to which it supplies heat and power.

The Akademik Lomonosov has two KLT-40S reactors generating 35 MWe each, which are similar to those used in a previous generation of nuclear-powered icebreakers. It is also providing energy for the development of mining of the Baimskaya ore zone. It has the capacity to provide electricity to a city with a population of up to 100,000 people.

Rosatom is in the process of constructing four floating power units and is targeting the export market for floating nuclear power plants with capacity of at least 100 MWe and an assigned service life of up to 60 years featuring RITM-200M reactors, derived from those used on Russia's latest nuclear-powered icebreakers.

World Nuclear News

Belgian nuclear power plant negotiations extended



The Belgian state, Engie and Electrabel have agreed to postpone to 12 December the target date for the conclusion of the heads of terms for the potential acquisition of Belgium's seven nuclear power reactors by the state.
 
Doel (Image: Engie)

Engie, the French parent of Belgian power company Electrabel, and the Belgian government began negotiations in late April. At that time, they said their Letter of Intent covered a proposed transaction which "encompasses the full scope of the nuclear activities currently owned and operated by Engie and Electrabel and their affiliates, including the complete nuclear fleet of seven reactors, the associated personnel, all nuclear subsidiaries, as well as all associated assets and liabilities, including decommissioning and dismantling obligations". The joint statement said: "This initiative reflects the Belgian Government's strategic decision to assume direct ownership of the country's nuclear assets, in line with its ambition to extend the operation of existing nuclear reactors and to develop new nuclear capacity in Belgium."

The two sides had aimed to conclude the heads of terms by 1 October. However, they subsequently agreed to postpone to 4 November the target date "to allow the parties to finalise their ongoing analyses and discussions".

The Belgian government, Engie and Electrabel have now agreed to extend the target date to 12 December.

"Given the current circumstances, the complexity and scale of the envisaged operation, the parties have agreed to an additional period to continue their discussions," they said in a joint statement. "Indeed, the in-depth discussions held over the past few months between Engie and the Belgian State have led to progress and strengthened mutual understanding of the issues. However, significant differences remain, particularly regarding the valuation of the transaction, and the parties wish to take the necessary time to try to reconcile their positions.

"The parties have therefore given themselves a maximum period of one additional month."

Background

Belgium's federal law of 31 January 2003 required the phase-out of all seven nuclear power reactors in the country. Under that policy, Doel 1 and 2 were originally set to be taken out of service on their 40th anniversaries, in 2015. However, the law was amended in 2013 and 2015 to provide for Doel 1 and 2 to remain operational for an additional 10 years. Doel 1 was retired in February 2025. Doel 3 was closed in September 2022 and Tihange 2 at the end of January 2023. Tihange 1 was disconnected from the grid on 30 September 2025. The fifth closed unit, Doel 2 in the Flanders region, was taken offline for the final time after 50 years of operation and disconnected from the grid in December.

Belgium's last two operating reactors - Doel 4 and Tihange 3 - had also been scheduled to close at the end of 2025. However, following the start of the Russia-Ukraine conflict in February 2022 the government and Electrabel began negotiating the feasibility and terms for the operation of the reactors for a further ten years, to 2035. A final agreement was reached with a balanced risk allocation - equal ownership of Doel 3 and Tihange 4 between the Belgian state and Engie, and the transfer of nuclear waste liabilities from Engie to the Belgian state for EUR15 billion (USD16 billion) payable in two instalments.

For the continued operation of Doel 4 and Tihange 3, Electrabel had to submit an extensive LTO (Long Term Operation) file with safety studies and an action plan to further increase the safety of the youngest reactors. This file was submitted in December 2024 for both units. Tihange 3 was taken offline on 5 April 2025 for a so-called 'LTO overhaul' - an extensive inspection and maintenance period with a view to safe long-term operation of the reactor. After a thorough analysis, regulator FANC and its technical subsidiary Bel V determined that the reactor met the conditions for a safe restart and the 1020 MWe PWR resumed operation on 10 July. Doel 4 was taken offline on 30 June for its LTO overhaul and was restarted on 8 October.

In February 2025, Belgium's new coalition government announced plans to operate the two units for a further 10 years beyond 2035. In May 2025, Belgium's federal parliament voted by a large majority to repeal the 2003 law which set out a phase-out of nuclear power and ban on the construction of new nuclear generating capacity.

Helen to assess environmental impacts of SMR in Helsinki

Finland's Helen Ydinvoima Oy has launched an environmental impact assessment on the construction of a small nuclear power plant at one of three potential sites in Helsinki.
 
(Image: Helen)

Helen - which currently produces heat, electricity and cooling in power plants and heating plants in different parts of Helsinki - is aiming for carbon-neutral energy production by 2040. In September 2024, the company launched the first phase of its nuclear programme, aimed at constructing a small nuclear power plant for producing heat for Helsinki city. Its nuclear energy programme will evaluate small modular reactors (SMRs) based on proven solutions, which can be used to produce just heat or both electricity and heat. During the initial phase of its nuclear programme, Helen said it will negotiate with potential partner shareholders, evaluate plant suppliers and determine potential plant sites.

The company has now published its Environmental Impact Assessment (EIA) Programme for the planned plant for public consultation, marking the start of the project's statutory environmental impact assessment procedure in Finland. The purpose of the EIA procedure is to identify and assess the project's impacts on the environment, people, and society, and to provide information to support planning and decision-making. The process also gives authorities, stakeholders, and the public access to information and opportunities to participate.

Possible locations for the SMR plant include the Salmisaari and Vuosaari power plant areas and Norrberget in Ă–stersund. The EIA procedure evaluates five possible implementation options, depending on the chosen plant technology and location. Both a heat-only plant and a combined heat and power plant are to be considered. In addition, an alternative is assessed in which the project is not implemented. The impacts of the construction of a cogeneration plant producing electricity and heat are only being assessed in Vuosaari and Norrberget. Helen said the cogeneration plant requires new connections to be built due to the production of electricity, such as cooling water arrangements and electricity transmission lines. Due to limited space, it is not possible to implement a cogeneration plant in Salmisaari, it said.

The environmental impact assessment will examine the maximum capacities of the plants: the thermal capacity of the heat generating plant is 600 MW (reactor capacity 630 MW) and the thermal capacity of the cogeneration plants is 700 MW and the electrical capacity is 500 MW (reactor capacity 1,400 MW). The characteristics of the final plant will be specified as the design progresses and may be smaller in size.

The EIA will proceed in two stages. The programme stage explains which impacts will be assessed and how the assessment will be carried out. The results of the assessments will be compiled into an environmental impact assessment report, which will be published in 2028. Statements and opinions will be collected on both the EIA programme and the EIA report.

Sweden-based engineering, project management and advisory company AFRY is acting as the EIA consultant for the project and is also supporting Helen's nuclear energy programme with studies related to potential plant locations and technical solutions. Helen said its goal is to make a decision on a potential plant location in 2028.

"Helen wanted to launch the environmental impact assessment as early as possible so that the impacts and implementation conditions of the project can be thoroughly investigated before further planning," said Helen's Nuclear Siting Manager, Melina Laine. "The environmental impact assessment produces key information to support decision-making and permit procedures on the impacts the project will have on the environment and residents of the surrounding area."

The SMR plant would reduce the load on electricity transmission connections and strengthen the energy self-sufficiency of Finland and Helsinki, the company said.

Helen Ydinvoima Oy CEO Pekka Tolonen added: "We are investigating the possibilities of nuclear power for the needs of a growing and vibrant city. With low-emission and weather-independent nuclear power, it is possible to curb fluctuations in energy prices and ensure the availability of energy in all situations."

Initial fuel loading completed at second San'ao unit

The loading of fuel assemblies into the core of unit 2 at the San'ao nuclear power plant in China's Zhejiang province has been completed ahead of its start up. The unit is the second of six HPR1000s (Hualong Ones) planned at the site.
 
(Image: CGN)

China General Nuclear (CGN) said the milestone, completed on 2 November, marks "the official entry of the unit into a new stage of nuclear-powered operation and commissioning. This is another key step for San'ao Nuclear Power towards the goal of achieving full completion and commissioning of the first phase of the project".

The company noted that the fuel loading operation at San'ao 2 utilised semi-automatic equipment. "After the staff completed the fuel loading sequence programming, the programme was imported into the refuelling machine's control system," CGN said. "Specialised fuel operators then controlled the equipment, sequentially transferring 177 fuel assemblies from the spent fuel pool's fuel racks to the reactor core. Notably, this loading operation also utilised a floating light gun independently developed by CGN, providing underwater illumination for the core operations and effectively ensuring the smooth progress of the loading process."

The background

On 2 September 2020, the executive meeting of the State Council approved the construction of units 1 and 2 as the first phase of the plant. China's National Nuclear Safety Administration issued a construction permit for the two units on 30 December that year and first concrete for unit 1 was poured the following day. The first concrete for San'ao 2 was poured on 30 December 2021.

Unit 1 achieved first criticality in February this year and was connected to the grid in March. The reactor was declared to be in commercial operation on 29 April.

Cold functional tests - which are carried out to confirm whether components and systems important to safety are properly installed and ready to operate in a cold condition - were completed at San'ao 2 in October last year. Hot functional tests - which simulate the temperatures and pressures which the reactor systems will be subjected to during normal operation - were completed in April this year. San'ao 2 is scheduled to begin supplying electricity in 2027.

The San'ao plant is the first nuclear power project in China's Yangtze River Delta region to adopt the Hualong One reactor design.

The construction of two Hualong Ones as units 3 and 4 of the San'ao plant was among plans for 11 reactors approved by China's State Council in August 2024. The first concrete was poured for the nuclear island of unit 3 on 19 December last year. A further two Hualong One units are planned as units 5 and 6.

Upon completion, the project will provide more than 54 TWh of electricity annually to Zhejiang Province and the Yangtze River Delta region, reducing standard coal consumption by more than 16 million tonnes and carbon dioxide emissions by more than 51 million tonnes annually, CGN noted.

The San'ao project marks the first Chinese nuclear power project involving private capital, with Geely Technology Group taking a 2% stake in the plant. CGN holds 46% of the shares of the project company Cangnan Nuclear Power, with other state-owned enterprises holding the remainder.

FANCO expands cooperation with Hyundai E&C on EAGL-1



US small modular reactor developer First American Nuclear Co has signed a comprehensive master service agreement with South Korea's Hyundai Engineering & Construction.
 
(Image: Hyundai E&C)

The master service agreement - signed at Hyundai E&C's headquarters in Gye-dong, Jongno-gu, Seoul, on 30 October - advances to the contract stage a framework agreement the two companies signed in July on First American Nuclear Co's (FANCO's) EAGL-1 project. A master service agreement is a basic agreement that predetermines common contractual conditions and responsibilities to be applied for continuous cooperation between companies; subsequently, whenever specific tasks arise, details such as the scope of work, duration, and contract amount are finalised through individual task orders.

EAGL-1 is a lead-bismuth cooled fast-spectrum small modular reactor (SMR) designed for factory fabrication and scalable, multi-unit deployment. It can operate in a closed-fuel cycle in which used fuel is continuously reprocessed and reused. FANCO submitted a regulatory engagement plan for the 240 MWe SMR to the US Nuclear Regulatory Commission in April, marking the start of its pre-application engagement with the regulator.

FANCO says its system will focus on mixed-oxide fuel and other transuranic fuels sourced from existing US Department of Energy stockpiles, although the EAGL-1 system is also capable of operating on high-assay low-enriched uranium. This "fuel-agnostic" approach means it can avoid major supply chain bottlenecks while helping reduce the nation's stockpile of long-term nuclear waste, the company says. Its BridgePower solution offers customers the ability to generate immediate power using off-the-shelf package boilers that feed steam turbines, and later seamlessly transitions to nuclear energy by replacing the boilers with the EAGL-1 reactor, using the same turbine infrastructure, with minimal equipment and modification costs.

Under the framework agreement signed in July, Hyundai E&C and FANCO were to collaborate on the early stages of the project, including the design of the balance of plant (all support components and auxiliary systems of nuclear power generation necessary to deliver energy) for the EAGL-1 nuclear power plant, support for BridgePower solutions, constructability reviews, and modularisation strategies. The partners also planned to explore implementation measures to participate as an engineering, procurement, and construction (EPC) partner in the EAGL-1 Project in the future.

The master service agreement signed between Hyundai E&C and FANCO is valid for five years, but can be extended by mutual agreement. During the contract period, Hyundai E&C will perform tasks related to FANCO's EAGL-1, including: constructability reviews; design and engineering technical consulting; and provision of technical feedback in the construction sector.

"In particular, it is evaluated that the possibility of future participation in the project construction has been increased by incorporating Hyundai E&C's EPC know-how from the design stage," the Korean company said.

In May, FANCO and Canadian engineering firm AtkinsRéalis formed a strategic alliance to establish a scalable framework for deploying FANCO's EAGL-1 SMR and associated fuel facilities, with AtkinsRéalis providing engineering services.

In a statement, Hyundai E&C said: "Hyundai E&C is expanding its global achievements not only in large-scale nuclear power plants but also in the next-generation energy construction market. Through this contract with FANCO, we will lead the commercialisation of the EAGL-1 Project and further solidify our leading position in the US SMR market."

Last month, Hyundai E&C announced the signing of memorandums of understanding with US SMR developers NANO Nuclear Energy and ARC Clean Technology.

Texas SMR plant moves to final permitting stage



The US Nuclear Regulatory Commission says there will soon be a construction permit announcement after it finished its safety review for the Xe-100 reactor, which is proposed for deployment at the Long Mott Generating Station in Texas.
 
(Image: X-energy)

The Nuclear Regulatory Commission (NRC) released its Final Safety Evaluation Report for the Long Mott Generating Station construction permit application on 30 October, after a comprehensive review of the Xe-100 plant's principal design criteria, preliminary design, safety analyses, probabilistic risk assessment, and research and development programmes. The report documents the conclusion of the NRC staff that the proposed plant and site provide the safety basis to begin construction under US nuclear regulations.

The NRC completed its environmental review for the project in May, when it issued an Environmental Assessment and Finding of No Significant Impact. This means that both of the primary reviews needed for the NRC to approve the construction permit application have now been completed, X-energy said. With both primary reviews complete, the project moves to the final stages of the NRC's construction permit review. On its social media channels, the regulator said its followers should "stay tuned for a construction permit announcement soon".

Long Mott Energy, a wholly owned subsidiary of The Dow Chemical Company, submitted the construction permit application for the proposed plant - consisting of four Xe-100 high-temperature gas-cooled reactors, capable of generating a total output of 800 MWt or 320 MWe - in March 2025. The plant would be used to generate electricity and process steam for the Dow Chemical Company's Seadrift Operations, exporting any excess power to the electrical grid: X-energy says this would make it the first grid-scale advanced nuclear reactor at an industrial facility in US history.

The commercial licensing effort for X-energy's technology is supported by pre-application engagement with the NRC dating to 2018, as well as decades of US Department of Energy research on high-temperature gas-cooled reactor (HTGR) technology. The Xe-100 is the first HTGR construction permit application to use the NRC's technology-inclusive, risk-informed, and performance-based licensing framework.

"Licensing a new reactor is earned through the quality of the application and the rigor of the regulator's review," said Dragan Popovic, Chief Global Operating Officer at X-energy. "The NRC's completion of its safety review reflects years of disciplined work by our team and the NRC staff, establishing the foundations to support every Xe-100 application that follows on the path to scale."


Kazakhstan aims for 100-year uranium reserve



Kazakhstan is aiming to develop its strategic uranium reserve to meet the needs of its planned nuclear power plants for more than 100 years, President Kassym-Jomart Tokayev has said.
 
The president set out policy priorities in a speech to the nation (Image: Kazakstan's President's Office)

President Kassym-Jomart Tokayev set out the ambition in an address to the nation last week, saying: "As a result of a nationwide referendum, the right decision was made to build several nuclear power plants in our country. We need to start thinking now about how we will supply these stations with uranium raw materials in 50 years, and even beyond.

"The proposal to create a state strategic reserve of uranium for the next 100 years to meet the needs of nuclear power plants in Kazakhstan is very reasonable. I believe that this initiative needs to be comprehensively developed."

On Tuesday, according to the official presidential press service, he was briefed by Kazatomprom's Chairman Meirzhan Yusupov "on the measures to create the State Strategic Uranium Reserve". This includes the company "conducting geological exploration in six areas with a total area of more than 1,000 square kilometres. It is also planned to explore the promising Kyzyltu area with an area of 124 square kilometres".

The official Kazinform news agency reported that the Chairman of the Atomic Energy Agency, Almassadam Satkaliyev, told a committee on economic policy, industry, and energy that the country's development strategy calls for the reserving of at least 150,000 tonnes of uranium by 2050, and work was on-going to develop and approve a conceptual framework for establishing the strategic reserve.

He added: "The strategic reserve is expected to be developed as a comprehensive, multi-level system covering the entire nuclear fuel supply chain, from reserving uranium deposits underground to building physical stockpiles of natural uranium, reserves of ready-to-use nuclear fuel, and other mechanisms."

New nuclear capacity

An intergovernmental agreement setting out the key principles - and export loan financing - for Kazakhstan's first nuclear power plant project - the Balkhash Nuclear Power Plant - was signed in May during Russian President Vladimir Putin's state visit to the country.

Further details of the financing was not included in the official announcements, although Kazinform said that preliminary estimates put the cost of the two units at about USD14.4 billion, with another USD2 billion earmarked for physical security systems and social infrastructure. It reported that the construction start was targeted for 2027, and the aim was for operation of the first unit in 2034.

An engineering, procurement and construction contract was signed by Russia's Rosatom in September for the plant, which is set to feature two of its VVER-1200 pressurised water reactors.

Kazakhstan has been preparing for a nuclear power programme to reduce its reliance on fossil fuels, diversify its energy mix and reduce CO2 emissions for some time. Kazakhstan Nuclear Power Plant, a subsidiary of Kazakhstan's Samruk-Kazyna National Welfare Fund JSC, was set up in 2014. In a referendum in 2024 more than 70% of the 7.8 million people who voted answered 'yes' to the question: "Do you agree with the construction of a nuclear power plant in Kazakhstan?"

In addition to the initial nuclear power plant, China National Nuclear Corporation is lined up to build a second one, at a site also in the Zhambyl district, adjacent to the site selected for the first plant. The government has set a target for nuclear to produce a 5% share of the national generation mix by 2035.

According to the Kazinform report on Satkaliyev's comments, sites are currently being examined for a third nuclear power plant in the country. It said that in terms of technology, "medium-sized nuclear power plants are considered - from 300 to 600 MW ... in addition to electricity production, such plants can provide heat supply and desalination".

Kazakhstan has 14% of the world's uranium resources and has been the world's leading uranium producer since 2009. In 2025 Kazakhstan produced about 25,839 tU, which was about 40% of the world’s total.

Eagle Nuclear Energy to acquire Noble Plains Uranium 


Eagle Energy’s Aurora uranium project in southeast Oregon. credit: Eagle Energy Metals

Eagle Nuclear Energy (NASDAQ: NUCL) announced Wednesday it has signed a binding Letter of Intent (LOI) to acquire 100% of Noble Plains Uranium (TSX-V: NOBL, OTCQB: NBLXF, FSE: INE0) in an all-stock transaction. 

The deal will expand Eagle’s resource footprint beyond Oregon, where it is advancing its Aurora uranium project, which it says is the largest mineable uranium deposit in the US. The company’s land package spans the Oregon-Nevada border, with the mine on the Oregon side and the plant on the Nevada side. 

Under the LOI and subject to a definitive agreement, Eagle will acquire 100% of Noble Plains’ issued and outstanding common shares at a deemed price of C$0.125 per Noble Plains’ share. Based on the Exchange Ratio of 0.0167 Eagle shares for each Noble Plains share, the offer price represents a premium of approximately 92% to the closing price of Noble Plains shares on the TSXV on October 29 of C$0.065.  

Upon closing it is anticipated that existing Eagle stockholders will hold approximately 95.22% and former Noble Plains shareholders will hold approximately 4.78% of the equity of Eagle, on an issued and outstanding share basis. 

Noble Plains is a U.S.-focused uranium exploration and development company advancing two In-Situ Recovery (ISR)-amenable projects strategically located within two of the country’s most prolific uranium districts in Wyoming.  

Noble Plains’ ISR portfolio combines brownfield projects covering ~5,965 acres of demonstrated ISR geology in close proximity to established operators. 

Noble Plains has an option to acquire an 80% interest in its flagship Duck Creek project located in the Powder River basin of Wyoming that hosts a U₃O₈ resource, reported on a 100% basis, containing 5.32M lbs in the Indicated category and an additional 1.04M lbs in the Inferred category, as reported by Noble Plains under the Canadian NI 43-101 regulatory standards.  

Eagle said its technical team believes this current resource estimate represents a relatively small portion of the total resource potential at Duck Creek, as it covers only 2.5 miles of a total 5.25-mile trend, and sits entirely in the shallower of two prospective mineralized formations.  

The company said it plans to unlock significantly more value at Duck Creek through the execution of a systematically phased exploration program over the next 12-18 months. 

Noble Plains’ Shirley Central is an earlier-stage uranium project that represents additional prospectivity for developing U₃O₈ resources in the strategically prominent Shirley basin of Wyoming. 

“This transaction gives Eagle greater scale at a time when demand for U.S. uranium is growing,” Eagle Nuclear Energy CEO Mark Mukhija said in a news release.  

“Noble Plains adds established resources in Wyoming and strengthens our portfolio with favorable ISR geology. We believe we can move these assets forward efficiently while we continue to work towards development of an integrated nuclear energy platform combining domestic uranium resources with advanced SMR technology,” Mukhija said.  

“We’ve proven we can acquire uranium assets with historical data, move them forward quickly and add value without having to recreate decades of work,” Noble Plains CEO Drew Zimmerman added. “Combining with Eagle gives us more scale and the capital to keep executing that strategy. We have a strong resource at Duck Creek, more opportunity across the portfolio and existing uranium infrastructure all around us.”  

Eagle’s stock was down 2.8% on the NASDAQ at Wednesday’s closing. The company has a $123.5 million market capitalization.  Noble Plains stock closed the day up 13% on the TSX.   

Renewables Stocks Soar as Democrats Sweep U.S. Congress

By Tsvetana Paraskova - Nov 04, 2026



Renewable energy stocks rallied in Asia and Europe on Wednesday as Tuesday’s mid-term elections in the United States resulted in a sweeping victory for the Democrats, who took control of both the House and Senate.

The “blue wave” of the elections turned into a “blue trade” in equity markets, where renewable energy stocks soared at opening in many Asian and European markets. Investors are betting that Democrats would favor renewable energy, unlike President Donald Trump, who has been openly hostile to clean energy in both his statements and executive actions since taking office for his second term.

With Democratic control of Congress that could push against the Trump Administration’s anti-renewable policies, stocks of European wind turbine makers and solar equipment manufacturers in South Korea jumped.

“The blue trade is showing up already with money rotating out of the AI buildout and into what a Democratic Congress favors,” Anna Wu, an investment strategist and founder of Floodlines Research, told Bloomberg on Wednesday.

Shares in Denmark’s Orsted, the world’s largest offshore wind farm developer, rallied 6% at opening in Copenhagen today, and wind turbine maker Vestas jumped 5%.

South Korea’s Hanwha Solutions Corporation soared in Seoul by 18%, HD Hyundai Energy Solutions Co Ltd surged 12%, and shares in OCI Holdings Co Ltd rallied 10%.

The “blue trade” now favors global clean energy stocks as investors are pulling back from the AI and data center plays amid increased scrutiny over projects and a growing backlash against huge data center buildouts in the United States.

The Democratic sweep of Congress is pressuring down AI stocks and chip makers, amid investor concerns about potentially greater regulation over the advances of artificial intelligence. The Democratic wins for governors of Texas and Ohio, two states that have expanded data centers in recent years, could mean more regulations on permitting going forward, analysts say.

By Tsvetana Paraskova for Oilprice.com

 

Dominion Energy Reports Offshore Wind Farm Is 85% Complete

Wind turbine instalaltion
Dominion reports it is taking about two days for the instalaltion vessel to completed each wind turbine (Dominion Energy)

Dominion Energy gave investors a positive update on its offshore wind farm, Coastal Virginia Offshore Wind, during its most recent earnings call. While there has not been a lot of positive news in the U.S. sector, the company stresses they remain on schedule after having delayed the completion target and says the estimated power cost continues to fall significantly.

As of the end of October, Dominion Energy reports the project overall is 85 percent complete, with the focus continuing to be on the installation of the wind turbines and commissioning. It reports that 100 percent of the nacelles, towers, and blades have now been fabricated. The focus is on installation.

The company reports it is taking approximately two days from jack up to jack down for the installation of a wind turbine, excluding the time for loadout, transit, weather, and other issues, including maintenance. September and October were slowed a little by weather issues and maintenance activities for the company’s wind turbine installation vessel Charybdis, but it says the maintenance is now completed and work is proceeding.

Since the start of installations in January, a total of 44 wind turbines have been installed, and work is underway on number 45. When completed, the wind farm will consist of 176 Siemens Gamesa 14 MW wind turbines. Since achieving first power in March, the project now has installed 640 MW of generating capacity, already making it among the largest in the United States. When completed, it will be 2.6 GW, placing it not only as the largest in the United States but also among the largest projects currently commissioned globally.

The company had previously delayed its target completion date from early 2027 to year-end 2027. However, it reports that the third and final offshore substation should be energized by the end of this year. It has no time restrictions on turbine installations, versus the foundations, which had seasonal issues for installation, and it expects that the work will continue forward at a similar pace.

While the overall outlook has not changed, and it remains on track with the capital budget after adjustments for the costs of tariffs and other delays, it points to a positive contribution from the project. The company continues to have increased power demands, especially from data center development. However, it points out that the offshore wind farm is expected to generate approximately $5 billion in fuel savings for customers during its first 10 years of operation.

The estimates on the levelized cost of energy (LCOE) also continue to fall. After starting with a forecasted range of $80-$90 per MWh, and adjustments for changes after the change in administrations, they have lowered the LCOE to $62, down from an estimate of $83 presented in August. 

The company continues to strongly believe in the benefits of the wind energy project. Analysts on the call congratulated the company for its progress and efforts to reduce risk from the project.

The positive report comes as after further challenges coming from the Trump administration to the sector. The Department of Justice has filed in the courts, seeking to review the permitting for approved projects and, in the case of Revolution Wind, a project that has largely completed the installation of its turbines. Several court challenges are pending both to the efforts to review the permits as well as the administration's buying back previously issued licenses.



Polar Vortex Puts Europe's Gas Reserves at Risk

The European Center for Medium-Range Weather Forecasts shows signs of an early disruption of the Arctic polar vortex that could send cold air into Northwest Europe as the energy-stricken continent faces a very thin supply buffer before the Northern Hemisphere winter gathers pace.

One week ago, we reported that signs of a potentially record-early sudden stratospheric warming were developing and that a split in the vortex could send Arctic air into the northern US and/or parts of Europe within weeks.

BloombergNEF reports that one week of Arctic air could send heating demand soaring in Europe and wipe out any natural gas storage gains made during October's mild weather. 

If temperatures average 5C below the 10-year normal in the first week of December, heating demand across Northwest Europe, Italy, Spain and Austria would soar by about 1.1 billion cubic meters. 

Here's more from the report:

A week of materially colder weather could quickly erode Europe's already thin gas storage buffer.

If temperatures across Europe averaged 5°C below the 10-year normal over Dec. 2-8, heating demand across the BNEF Europe Perimeter (Northwest Europe, Italy, Spain and Austria) would rise by around 1.1 billion cubic meters.

And if that additional demand were met entirely from storage, end-March inventories would fall to about 15.5% full, from around 17% under average weather. That would leave stocks only around half a percentage point above BNEF's estimated minimum, the end-March level below which Europe would begin drawing on gas assumed to be held as strategic reserves rather than normal commercial inventories.

October's mild weather helped Europe build a larger-than-expected cushion heading into winter. Lower heating demand allowed injections to continue later into the season, leaving storage additions around 1 Bcm above the 2021-25 October average.

Europe is entering the cold period with NatGas inventories at their lowest seasonal level since the 2022 energy crisis, at around 74% of capacity. This means the buffers that shield the continent from demand shocks will draw down to dangerously low levels by March. 

On Tuesday, the International Energy Agency released a new report warning of just that, citing a "reduced buffer against supply disruptions" and forecasting that NatGas storage levels on the continent could drop below 10% by late March. 

"This would leave the European market particularly exposed to events, whether additional cold snaps, technical outages or other supply disruptions, since the rate at which gas can be withdrawn from storage sites tends to decline once fill levels fall below 30% of working capacity," the IEA wrote in the report.

As we noted, energy markets in the US and Europe differ starkly: EU NatGas futures trade at roughly 11 times US NatGas prices.

Europe is just a couple of cold snaps away from a deepening energy crisis that will keep EU NatGas prices elevated well into next spring. 

By Zerohedge.com