Argentina announces $1.2 billion privately funded nuclear reactor project
- Argentina announces a $1.2 billion privately funded nuclear reactor project near Buenos Aires amid sweeping budget cuts in the country’s nuclear sector.
Argentina announced on Tuesday plans to build a new nuclear reactor near Buenos Aires, backed by $1.2 billion in private sector investment, as the country’s National Atomic Energy Commission faces austerity measures and labour disputes.
President Javier Milei said the project would be “the first nuclear reactor fully financed by private capital” and is expected to create around 2,000 jobs.
Presidential spokesman Adrian Ravier said during a press conference that US-Argentine company Meitner Energy would invest $1.2 billion to build a 300-megawatt small modular reactor at the Atucha site, north of the capital.
Nuclear sector faces cuts
The announcement comes amid tensions within Argentina’s nuclear sector, with the National Atomic Energy Commission facing protests following a wave of layoffs.
Commission president Martín Buro recently dismissed 61 employees, mainly working in administrative roles, as part of broader government austerity measures. The decision triggered demonstrations outside the institution’s headquarters.
Since Milei took office in 2023, the commission’s budget has been reduced by 58%, according to Argentine fact-checking outlet Chequeado, citing official data.
Argentina’s nuclear energy plans
Argentina currently operates three nuclear power plants, Atucha I, Atucha II, and Embalse, which together generate around 8% of the country’s electricity.
The planned reactor is part of the government’s push to expand nuclear energy through private investment while reducing public spending.
