Rastislav Podhorec, CEO of Eximbanka, commenting for HN (Hospodárske noviny) on the potential of small modular reactors and the role of export credit agencies (ECAs), which help to bridge the riskiest phases of projects and create favourable conditions for the involvement of suppliers across countries.
Small modular reactors are increasingly emerging as a practical answer to the need for a stable and low-emission power industry. This is not only a technological innovation, but also a concrete economic opportunity – especially for Slovak companies that can engage in international projects with higher added value and strengthen their position in global supply chains.
Expert discussions confirm that the key challenge today is not a lack of capital, but setting up a credible and predictable business model. Investors need a clearly defined risk allocation, a stable regulatory environment and certainty of return. It is these factors that will determine whether pilot projects are turned into scalable solutions capable of attracting broader private and institutional capital.
Export credit agencies play an important role in this process, helping to bridge the riskiest phases of projects and creating the conditions for supplier engagement across countries. Building international partnerships that increase the feasibility of capital-intensive investments while opening up space for domestic exporters is therefore strategically important for Slovakia. An example is the co-financing agreement between the Eximbanks of Slovakia and the USA, which opens up opportunities to support projects of common interest involving Slovak firms in broader international consortia. We also plan to develop partnerships with export credit agencies from other countries, which will increase the feasibility of capital-intensive projects such as small modular reactors.
The active role of the state in creating a stable investment environment and promoting innovative solutions will also be an important factor. Only a combination of public support, private capital and international cooperation will make it possible to exploit the full potential of this technology. It will be important to systematically build professional capacities and strengthen domestic know-how, which will increase the competitiveness of Slovak industry in the long term.
Small modular reactors thus represent not only a path to energy security, but also a boost for industrial and export development. The key will be the ability to link technological potential with effective financial instruments, a stable environment and active international cooperation that will deliver concrete results. At the same time, it will be a test of Slovakia’s ability to play an active role in shaping the energy future.
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