Argentina: Milei Unveils New Nuclear Plan
The country's power generation capacity is also expected to be strengthened to develop new technologies such as artificial intelligence
President Javier Milei unveiled Argentina’s new nuclear plan. The announcement was made at a conference attended by the head of the Board of Advisors (a group of advisors serving the president), Demian Reidel, and the CEO of the International Atomic Energy Agency (IAEA), Rafael Grossi.
As reported by La Nación, citing sources in the Casa Rosada presidential palace, the plan will lead to the construction of the Atucha III power plant, which will join the other power plants already existing in the country (Atucha I, Atucha II, and Embalse). The required investment will come entirely from foreign private investors.
“The project is Argentine, and the capital for the development will be American with 100% foreign direct private investment,” Reidel said, as reported by the Financial Times. “We think we can have the first phase operational by 2030. Next, things will accelerate, and we will become an exporter of SMRs (new technology of small modular reactors – ed.).” Reidel also explained that it is “an ambitious plan that marks an important milestone in the Argentine and world energy system” and that will give the country “energy sovereignty.”
On national television, Milei explained: “The increase in energy demand, associated with advances in artificial intelligence, will lead to a worldwide revival of nuclear power after decades of decline, and we will not be left behind. We will develop an Argentine nuclear plan that includes building new reactors and researching new small or modular reactor technologies, maintaining the highest standards of safety and efficiency.”
