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Oklo and Siemens Energy Sign Agreement to Accelerate Power Conversion System for New SMR in Idaho

LCG, November 19, 2025--Oklo Inc. and Siemens Energy announced today that the parties have signed a binding contract for the design and delivery of the power conversion system for Oklo’s Aurora-INL (Idaho National Laboratory) nuclear small modular reactor (SMR). The agreement authorizes Siemens Energy to begin engineering and design work to expedite procurement of long-lead components and to initiate the manufacturing process for the power conversion system. Oklo’s expertise in advanced fission technology will be combined with Siemens Energy’s extensive industry experience with steam turbine and generator systems, with the ultimate goal of generating carbon-free, reliable electricity.

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NERC's New Winter Reliability Assessment Raises Concerns for Elevated Risk of Insufficient Supplies to Meet Demand in Extreme Operating Conditions

LCG, November 19, 2025--NERC yesterday released its 2025–2026 Winter Reliability Assessment (WRA), which concludes "much of North America is again at an elevated risk of having insufficient energy supplies to meet demand in extreme operating conditions." The WRA does state that resources are adequate for normal winter peak demand, but extended, wide-area cold snaps will be challenging.

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Industry News

India's Financial Credibility on the Ropes

LCG, June 4, 2001"There has been a lot of slippage" over the past year in India's efforts to build credibility with foreign investors, according to Moody's Investors Service which has pegged the country's credit at Ba2, two notches below investment grade since mid-1998, but Moody's has no plans to change its positive outlook for the time being.

"We do discuss whether the rating is appropriate given the risks we see and whether the positive outlook is still warranted," Kristin Lindow, Moody's lead India analyst, said Friday, "But as of this moment we have not decided to change that."

Standard & Poor's said last week that it was concerned about the size of India's budget deficit and on Thursday a third credit rating agency, Fitch, lowered its rating outlook on India's sovereign debt from stable to negative, citing deterioration of the nation's foreign investment climate.

India's financial credibility suffers from high combined deficits of the federal and state governments, amounting to about 10 percent of gross domestic product, insufficient budget cutting efforts and problems associated with Enron Corp.'s investment in a huge power project in Maharashtra state.

Enron's Dabhol Power Co. is the single largest foreign investment in India and is in danger of collapse, due to failure of the Maharashtra State Electricity Board to honor contracts signed in the mid-1990s.

"The dispute indicates that India's government may not be willing to live up to its contractualobligations," Lindow said. "As a consequence, this would further deter foreign direct investment fromcoming into the country."

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