2025 in Review: Nuclear – The transition’s comeback story

2025 has been a big year for nuclear energy. After decades of uncertainty, the controversial asset class has been made a powerful comeback across Europe and the US. Traditional fission reactors are back in vogue. European states who had been executing decades-long phase outs have halted their decommissioning strategies and are pushing for new projects. In the US, tech giants have forced a renaissance for otherwise doomed nuclear facilities. Meanwhile, national support and private investment in advanced nuclear technologies – Small Modular Reactors (SMRs) and fusion energy – broke records and contributed to the rising hype around the class. Major offtake agreements were signed, with the likes of Eni, Amazon, and Google committing to secure first access to demonstration projects across Europe and the US. As the year comes to an end, inspiratia breaks down the major US and European nuclear sector developments over the past 12 months. Whether its well-tested or groundbreaking, familiar or new age, it is hard to see 2025 as anything but a comeback for nuclear energy. But whether this enthusiasm will continue in 2026, as the costs of this year’s promises start to bite, remains to be seen.