The European Union has announced a plan to encourage private investment in next-generation nuclear reactors, aiming to launch operations by the early 2030s.
The EU’s executive arm, the European Commission, stated on Tuesday that it would promote investment in nuclear technology amid soaring energy prices.
It plans to provide investment guarantees worth around 200 million euros over the next two years to assist attract private-sector funding. The guarantees are intfinished to support the development and construction of next-generation nuclear reactors, which are compacter than conventional ones and are considered less costly to build.
In Europe, the apply of nuclear power has declined since Japan’s 2011 nuclear accident. The region has become more depfinishent on energy imports from Russia and increased its apply of fossil fuels.
European Commission President Ursula von der Leyen stated that the “reduction in the share of nuclear was a choice,” but “it was a strategic mistake for Europe to turn its back on a reliable, affordable source of low-emission power.”
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