The Slovenian Government has adopted a decision on the preparation of a National Spatial Plan (DPN – Državnega Prostorskega Načrta) for the JEK2 NPP project, which was prepared on the basis of an initiative by the Ministry of the Environment, Climate & Energy and based on an analysis of the policies and data of the spatial planning authorities, the municipality, and proposals from the public.
The JEK2 project is for a plant with up to 2400 MWe capacity to be located adjacent to the existing 696 MWe Krško NPP owned and operated by Nuklearna Elektrarna Krško, which is jointly owned by Croatia’s Hrvatska Elektroprivreda (HEP Group) and Slovenia’s GEN Energija. Krško, which began operation in 1983 and uses Westinghouse technology, supplies around 20% of Slovenia’s electricity needs and 16% of Croatia’s. However, Croatia is not currently involved in JEK2 and is making its own plans.
Referring to the DPN, Prime Minister Robert Golob noted: “With this, we have formally begun a process that is a step towards concrete solutions and concrete data for the new NPP unit.” Slovenia had been due to hold a referendum on new nuclear in November 2024, but it was cancelled amid a political scandal. Golob recalled: “At that time, there was talk that a referendum didn’t really make sense because we didn’t know exactly what we were deciding on.”
He added: “The process was launched today, and spatial planning is the first step on this path. We will decide on it in a referendum, which is expected to be at the end of 2027 or the beginning of 2028, when we have all the information on the table. We will know where the unit will be located, under what conditions it will be built, who the supplier will be, and what its final price will be.”
A final investment decision is expected in 2029, with construction beginning in 2033 and commercial operation in 2041. In September 2025, GEN Energija published two technical feasibility studies for the EPR and AP1000 reactors with respect to the JEK2 project. The JEK2 project team had originally been in discussions with potential nuclear power plant providers EDF, Korea Hydro & Nuclear Power (KHNP) and Westinghouse. However, KHNP withdrew from the process in January 2025 following a dispute with Westinghouse and feasibility studies were then requested from Westinghouse and EDF.
Golob said the Government had also discussed a report from the Ministry of Finance regarding the most appropriate model for financing the JEK2 investment. “It turns out that this is a very important issue. When it comes to the final price of electricity from a nuclear facility, according to global experience, as much as half of the price depends on financing costs. This type of project is very capital-intensive, with long repayment periods. Therefore, the scheme and financing costs are key to financial success,” he explained.
He added: “The prices we were informed about are very favourable for the development of energy-intensive industry in Slovenia and for the economic development of the country. We are happy to continue the procedures to reach the point in the next two years when citizens will be able to decide whether we want to build a second unit or not.”
He said state debt was by far the most favourable financing option for nuclear as it “gives prospects that the price from the new facility will not only be competitive for Slovenian industry, but competitive internationally”.
At a press conference the next day, representatives of GEN Energija, the Ministry of Natural Resources & Spatial Planning, the Ministry of the Environment, Climate & Energy and the Ministry of Finance gave further details of the DNP and finance report.
The Minister of the Environment, Climate and Energy, Bojan Kumer said with the decision to prepare the DPN a structured, professionally supported and transparent process begins, “in which all key bases for an informed project decision will be provided by 2028”. Any future steps “must be taken forward, with a comprehensive environmental impact assessment, a clear financial model and an open public dialogue”.
Miran Gajšek, State Secretary at the Ministry of Natural Resources & Spatial Planning, which is preparing the DPN, said public hearings on the initiative had been held from July to October 2025 and public presentations were held in Krško, Ljubljana and Brežice. On the basis of all the guidelines and comments received, the decision to prepare the DPN also sets out the primary expert basis for further work. In addition to the power plant, “the DPN will also cover all accompanying spatial arrangements related to its operation”.
GEN Energija CEO Nada Drobne Popović stressed that the cost of the JEK2 project will be determined when the contractor is selected and the contract is signed. The investment is estimated at €9.6bn ($11.3bn) for a 1,000 MWe plant and €15.4bn for 1,650 MWe plant. If financing costs are included, the cost is between €15bn and €22bn, Naš stik reported.
According to GEN Energija, the key finding of the report from the working group for the financing model is that Slovenia is capable of financing and implementing it on its own. The group has taken into account the country’s economic and fiscal position, access to capital markets, and debt management system.
The optimal organisational solution is the establishment of a special purpose vehicle (SPV). This model allows for a clear separation of risks and benefits from other activities of the GEN Group and creates a transparent basis for the involvement of the state and potential investors, according to the company. The proposal allows for the inclusion of potential investors.
Marjan Divjak, head of finance working group and Director General of the Treasury Directorate at the Ministry of Finance, said that the most balanced solution is for the state to lend to the SPV. In addition, there would be a possibility of direct borrowing by the SPV. GEN Energija explained that the model allows for the simultaneous protection of public financial stability, the phased inclusion of potential investors, and the use of green financial instruments in line with the European Union taxonomy.
GEN Energija Business Director Dr Bruno Glaser noted the technical feasibility studies by EDF and Westinghouse and listed other key activities that are underway to prepare for a final investment decision. These include a study of the implementation of cooling towers to be completed by September 2026, an independent expert review of the location safety report and preparation of a preliminary transport study as well as more than 30 analyses and studies. There will be regular briefings for the press and public presenting the results of these studies.
Meanwhile, the Croatian Government has submitted a draft law on the development of nuclear energy for civilian purposes to the parliament. Minister of Economy Ante Šušnjar said Croatia faces a triple challenge. It must ensure economic competitiveness, energy security and climate neutrality. He set a target of at least 30% nuclear in the energy mix by 2040.
In line with the law, the Minister will develop a programme to prepare a nuclear development plan within six months of the legislation’s adoption. The government will adopt the development plan within 12 months. Possible locations will be determined by a separate law.
According to the draft law, the new generation of nuclear power plants will be flexibly integrated with renewable energy sources and will also be suitable for industrial and district heating purposes, as well as for the economical production of large quantities of hydrogen. To achieve its energy goals Croatia will remain involved in researching the possibilities
With this law, Croatia not only chooses a new source of energy, but makes a strategic decision that confirms its commitment to energy security, climate responsibility and technological progress,” Šušnjar said.
In 2025, Croatia established a Working Group for Nuclear Energy tasked with preparing studies on potential types and locations for nuclear units in the country. It said working group members would “analyse the financial and economic aspects of SMR (small modular reactor) technology compared with conventional large nuclear power plants, in order to make the best decision for Croatia”.
