Paraguay and the United States formalized a civil nuclear cooperation memorandum that positions Asunción to potentially access American small modular reactor technology within the next five to ten years, contingent on completing a binding Section 123 agreement and domestic legislative approval. The framework arrives as government projections indicate Paraguay’s surging internal electricity consumption could absorb all current hydroelectric production between 2030 and 2035, forcing the world’s fourth-largest hydropower exporter to diversify its generation portfolio or curtail its lucrative energy sales to Argentina and Brazil.