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While nuclear energy is currently being championed for its low-carbon electricity generation and energy security, the construction of facilities to provide such energy is no easy feat. From regulatory hurdles to technical complexities, navigating the construction phase of nuclear power plants demands careful consideration and proactive risk management. The average nuclear power plant (“NPP”) has a construction cost overrun of 102.5% and projects that commenced construction between 2010 and 2020 were delivered an average of three years late.

Two ICSID tribunals have recently upheld Spain’s intra-European Union (EU) jurisdictional objections in two arbitrations pursuant to the Energy Charter Treaty (“ECT”).

The Kingdom of Saudi Arabia has embarked on a significant legal reform with the introduction of its first Civil Transactions Law (the “Civil Code”), which took effect on December 16, 2023.

Bond markets have been in upheaval recently, with knock-on impacts on decisions on whether to make or defend calls on performance security on construction projects. Louise Woods, Ciara Ros, Jarrod Gutsa and Lauren-Emma Parrott of Vinson & Elkins examine the issues.