EU's nuclear energy plans require 241 billion euro investment, draft shows ...Middle East

EU countries have set out plans to expand their nuclear power capacity to 109 gigawatts by 2050, up from 98 GW today, the Commission said in a draft analysis of investment needs for the sector, due to be published on Friday.

Nuclear power generated around 24% of the EU's electricity last year. With recent nuclear projects in Europe running over budget and facing long delays, the Commission said more financial instruments were needed to attract private investors put off by these risks and huge upfront costs.

“A combination of diverse sources of financing complemented by de-risking instruments may be the response,“ the Commission said.

As a result, EU energy policies have typically not singled out nuclear with incentives or targets, and the EU budget does not support the building of new nuclear power plants. The draft document said the Commission and the European Investment Bank will launch a 500-million-euro pilot programme of power purchase agreements, for which nuclear projects will be eligible.

($1=0.8666 euros)

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