European Union member states will require an investment of €241bn ($278bn) to meet their nuclear energy plans by 2050, according to an assessment by the European Commission (EC).
These plans include extending the operational life of existing reactors and constructing new large-scale facilities.
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Further funding is essential for the development of small modular reactors (SMRs), advanced modular reactors (AMRs), microreactors and long-term fusion technology projects, as outlined in the EC’s eighth edition of the nuclear illustrative programme (PINC).
As stipulated under Article 40 of the Euratom Treaty, PINC stipulates an exhaustive overview reflecting current trends in nuclear development alongside outlining anticipated investment scopes across member states.
Nuclear power plays a pivotal role in several EU countries’ plans for decarbonisation, industrial competitiveness and security of supply.
The latest PINC aims to guide member states towards prioritising areas within this field.
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By GlobalDataThe commission projects that more than 90% of electricity within the EU will be generated from decarbonised sources by 2040, mainly from renewables, with nuclear energy as a crucial complement.
Estimates indicate an increase in nuclear installed capacity across the EU from 98GW in 2025 to around 109GW by 2050.
Zero and low-carbon energy solutions are essential for the decarbonisation of the EU’s energy system.
Ensuring high standards of safety, security, safeguards and responsible radioactive waste management will remain key for the EU.
Enhanced cooperation among national regulatory authorities could expedite licensing processes, while international partnerships will help to secure stable fuel supplies and prevent dependencies.
The EC also noted that investing in workforce development and start-up support will drive innovation, while promoting commercialisation and market adoption of advanced nuclear technologies such as SMRs and AMRs will be crucial for the future of the sector in the region.
The final version of PINC will be published following feedback from the European Economic and Social Committee.
Further discussions with member states are scheduled during the Energy Council meeting in June 2025 in Luxembourg.
In February 2024, the EC initiated an industrial alliance focused on the development of SMRs to enable their commercial introduction in Europe by the early 2030s.
This announcement forms part of the commission’s evaluation of a climate target for the EU set for 2040.
