The EU's nuclear power expansion plan has been announced, with a 241 billion euro investment gap awaiting to be filled.

The European Commission revealed on Friday that if member states push forward with plans to expand nuclear energy, it is estimated that there will be a need for investment of up to 241 billion euros (approximately 278 billion US dollars). To reduce the risks for private investors, new types of financing tools will also be needed. According to a draft analysis of investment needs in the nuclear energy sector that was scheduled to be released by the Commission on that day, EU countries have set targets: by 2050, to increase nuclear power capacity from the current 98 gigawatts to 109 gigawatts. The draft indicates that this will require 205 billion euros for the construction of new nuclear power plants, with an additional 36 billion euros for extending the lifespan of existing reactors, with funding coming from both public and private sectors. Last year, nuclear energy accounted for 24% of the total electricity generation in the EU. However, in recent years, European nuclear projects have generally faced issues of cost overruns and delays. The Commission acknowledges that more financial tools are needed to attract private capital investors often hesitate due to the high project risks and large initial investments. The report warns that if new nuclear projects are delayed by five years, the cost will increase by an additional 45 billion euros by 2050. "The combination of diverse financing channels and risk mitigation tools may be the key to breaking the deadlock," the Commission noted in the draft. For a long time, EU member states have had serious disagreements on whether nuclear energy should be a key pathway for achieving carbon emission targets. France, as a country heavily reliant on nuclear power, stands in stark opposition to Germany, which was once staunchly against nuclear energy. As a result, EU energy policy rarely provides incentives or targets specifically for nuclear power, and the EU budget does not directly support the construction of new nuclear power plants. The draft indicates that the Commission and the European Investment Bank will launch a pilot program totaling 500 million euros for power purchase agreements, including nuclear projects within the scope. Currently, 12 out of the 27 EU member states operate nuclear reactors, with France having the highest number of nuclear power units; Slovakia and Hungary are constructing new units, and countries like Poland are also planning to embark on new chapters of nuclear power construction.