BAKU, Azerbaijan, June 13. Delivering EU member states' plans regarding nuclear energy will require significant investments, of around €241 billion until 2050, both for lifetime extensions of existing reactors and the construction of new large-scale reactors, Trend reports citing the European Commission.
The Commission notes that additional investments are needed for Small Modular Reactors (SMRs), Advanced Modular Reactors (AMRs) and microreactors and in fusion for the longer-term future, the Commission has assessed in its eighth nuclear illustrative program (PINC).
“For some EU countries, nuclear energy is an important component of decarbonisation, industrial competitiveness, and security of supply strategies. The Commission estimates that over 90% of electricity in the EU in 2040 will be produced from decarbonised sources, primarily renewables, complemented by nuclear energy. Nuclear installed capacity across the EU is projected to grow from 98 GWe in 2025 to 109 around GWe by 2050. Crucially, all zero and low carbon energy solutions are needed to decarbonise the EU's energy system,” reads the latest report from the Commission.
Brussels believes it is therefore important to maintain the EU's industrial leadership in this sector.
“This nuclear illustrative program will help drive member states' actions towards priority areas. Ensuring the highest standards of nuclear safety, security and safeguards, as well safe and responsible management of radioactive waste will remain a top priority for the EU. More efforts are needed on the development of infrastructure for the disposal of radioactive waste and spent nuclear fuel, alongside effective decommissioning and cost efficiency.
Cooperation between national regulatory authorities will help speed up licencing, while international collaboration with reliable partners will ensure stable and diversified fuel supply and avoid dependencies. Upskilling the existing workforce, engaging new talents and supporting start-ups will spur innovation. The commercialization and market uptake of cutting-edge nuclear technologies, including Small Modular Reactors (SMRs), Advanced Modular Reactors (AMRs), microreactors and fusion for the longer term, will also be central for the sector's future in Europe and beyond,” reads the report.