Europe Unveils Strategy to Advance Small Modular Nuclear Reactors

(MENAFN) European Commission President Ursula von der Leyen revealed on Tuesday a fresh initiative aimed at hastening the progress of small modular nuclear reactors (SMRs), with the objective of having the technology fully operational throughout Europe by the early 2030s.

Addressing attendees at the World Summit on Nuclear Energy in Paris, von der Leyen stated that the European Commission plans to provide a €200 million ($231 million) guarantee to stimulate private sector investment in groundbreaking nuclear technologies.

The initiative will be funded through proceeds from the EU Emissions Trading System and is designed to minimize financial exposure for investors while attracting further capital into the nuclear sector.

“Our goal is very simple. We want this new technology to be operational in Europe by the early 2030’s so that it can play a key role alongside traditional nuclear reactors in a flexible, safe and efficient energy system,” von der Leyen emphasized.

The strategy for SMRs also seeks to reinforce Europe’s leadership in next-generation nuclear innovation, which von der Leyen suggested could emerge as a lucrative export market for the region.

She urged EU member states to collaborate more closely to harmonize regulatory standards, accelerate permitting processes, and cultivate the skilled workforce necessary to support the expansion of the nuclear industry.

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