Slovakia to work with Rothschild & Co on financing new nuclear unit

The Slovak Republic has selected Rothschild & Co through a tender process as financial adviser for a planned new nuclear power project. The advisory firm is expected to help primarily with structuring and defending the project’s financial framework during European Union state aid assessments.

New unit at Jaslovské Bohunice

In May 2024, the Slovak government officially approved plans to build a new unit with a capacity of approximately 1200 MWe near the existing Jaslovské Bohunice nuclear power plant. In September 2025, ministers approved the wording of a draft intergovernmental agreement with the United States “on the construction of a new nuclear unit…”, which is to be state-owned and have an installed capacity of at least 1000 MW.

JAVYS: Financing will have a decisive impact on total project costs

The state-owned company JAVYS said this is a project with an expected investment of several billion euros, a long construction period and a lifespan of more than several decades. According to JAVYS, financing terms will have a decisive impact on total costs, and the project is therefore entering a new phase of preparation aimed at establishing an “optimal and sustainable long-term financing model”.

According to JAVYS, three bidders took part in the tender. The contract is worth EUR 13.9 million (approximately CZK 338.3 billion) excluding VAT.

Rothschild & Co is to provide the state with expert support, particularly:

• in preparing and defending the project’s financing and during EU state aid assessments,
• in applying best practices from major nuclear projects,
• in preparing the project for a smooth transition to the financing and construction phase.

The adviser’s experience and its contribution to talks with the European Commission

According to JAVYS, Rothschild & Co has experience preparing similar projects, including the UK’s Sizewell C project and advisory support for the planned completion of the Dukovany nuclear power plant.

JAVYS also stressed that the partnership is intended to strengthen the state’s position in talks with the European Commission and with domestic and international financial partners. The expected benefits include greater transparency, a clearer structure and greater predictability of long-term costs, including the establishment of responsible risk-sharing arrangements.

Slovakia’s nuclear mix

Slovakia currently operates five nuclear reactors—three at Mochovce and two at Jaslovské Bohunice—which together account for approximately half of domestic electricity production. The fourth reactor unit at the Mochovce nuclear power plant is currently undergoing hot testing ahead of its first start-up. Both plants are operated by Slovenské elektrárne.