Document Update. Atomic Revival of Serbia: Policy, Partnerships, and Implementation Strategy (State of Play Report for 2025–2026).

In the last six months, the landscape of Serbia's nuclear energy has undergone fundamental changes, rapidly moving from the stage of strategic intentions to the stage of practical implementation. The lifting of the 35-year moratorium on the construction of nuclear power plants at the end of 2024 and the official start of Phase 1 according to the IAEA methodology marked the beginning of a new era in the country's industrial policy.

The initial program concepts, oriented predominantly toward the long-term prospects of small modular reactors (SMRs), evolved. Today Belgrade has adopted a more pragmatic approach, expanding the target range to the deployment of high-power reactor blocks (1000–1650 MW). This has entailed a significant revision of the basic financial models — with an estimate of initial capital expenditures at around €3 billion — and the adoption of more stringent construction schedules. At the same time, competition among international vendors for the right to participate in the Serbian project has intensified considerably, engaging key technology players from France, South Korea, and Russia.

However, the main challenge for Serbia in the coming decade (until the planned start of construction in 2035) is not so much the choice of reactor technology as overcoming the institutional and infrastructural gap. The absence of practical experience in implementing nuclear projects in the country for more than half a century makes the preparation phase critical.

This updated report analyzes the current geopolitical, technological, and economic dynamics of 2025–2026. The document places particular emphasis on the engineering and construction sectors. In conditions of acute shortage of local competencies, the safety and success of the entire national program will directly depend on attracting highly qualified construction consulting services. Sound project management, technical supervision, site preparation, and the adaptation of international projects to local realities are the fundamental tasks that require professional engineering intervention long before the facilities are commissioned.