U.S. to Invest $80 Billion in Nuclear

New nuclear plants to be constructed in US under $80 billion deal

The Trump Administration, partnered with Westinghouse Electric Company, announced an $80 billion plan to build new nuclear power plants. The partnership also involves Brookfield Asset Management and uranium supplier Cameco, as both companies own Westinghouse. The initiative aims to meet electricity demand from AI-driven data centers. It also hopes to revive the nuclear energy sector in the U.S. after decades of stalled projects, due to construction disruptions and rising costs. The administration’s energy secretary, Chris Wright, said, “This historic partnership with America’s leading nuclear company will help unleash President Trump’s grand vision to fully energize America and win the global A.I. race.” Meanwhile, China is building numerous nuclear reactors and is set to have the largest nuclear capacity in the world by 2030. 

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Further reading: Trump Administration Backs Plan for New Nuclear Plants

Ombudsman opens inquiry into European Commission over transparency

The European Ombudsman watchdog has opened an inquiry into the potentially secretive nature of the European Commission’s recent dealings with major business groups. The inquiry comes before the EC launches its “omnibus simplification agenda,” aimed at reducing corporate regulations. The Ombudsman inquiry highlights issues of transparency, following a complaint by Corporate Europe Observatory, which accused the Commission of evading transparency about meetings with the European Round Table for Industry and BusinessEurope. Critics say President Ursula von der Leyen’s administration is less transparent than predecessors, while the Commission insists it fully complies with transparency rules. The EC has until November 12 to respond to Corporate Europe Observatory’s complaint. Corporations committed to transparency can look to ESG solutions for guidance.  

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Further reading: Ombudsman probes Commission over red-tape-cutting chats with industry

India’s Solex Energy to invest $1.5 billion in solar manufacturing

India’s solar manufacturer Solex Energy plans to invest $1.5 billion over five years to expand production. Despite steep tariffs on solar panels, some as high as 50%, the company hopes to boost exports to the U.S. by building a fully non-Chinese supply chain. Solex plans to diversify through partnering with Germany’s ISC Konstanz for solar cell R&D and technology collaboration. The company hopes to expand operations from its current 4 gigawatt (GW) capacity to 10 GW in its module plant in Gujarat. It will focus on fundraising in stages and expects to raise 5 billion rupees ($56.9 million) from institutional investors over the next few weeks. Companies should use ESG solutions to make responsible clean energy investments.

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Further reading: India’s Solex Energy to invest $1.5 bln in solar manufacturing, eyes US exports

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Jordan water project receives $295 million from global climate fund

The Green Climate Fund (GCF) has made its largest-ever financial commitment to support one of the world’s biggest desalination efforts. At a board meeting in South Korea, the fund approved $295 million in grants and loans for Jordan’s $6 billion Aqaba-Amman Water Desalination and Conveyance Project. Mafalda Duarte, the executive director of the GCF, said that the project will “transform the country” by supplying 300 million cubic meters of water annually. The project will serve nearly half of Jordan’s population, as much of the country suffers from water scarcity. The initiative aims to cut water costs and attract private financing. The decision comes ahead of COP30 and reflects efforts to accelerate global climate finance and strengthen water security in climate-vulnerable regions.

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Further reading: Exclusive: Climate fund backs $6 billion Jordan water project with its largest deal

Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — In the Cover Photo: Wigwam Rock in Niantic Bay, with Millstone Nuclear power plant in background. Cover Photo Credit: Rusty Watson