Tsvetana Paraskova
Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.
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By Tsvetana Paraskova – Jun 18, 2025, 6:00 PM CDT
- The European Union estimates it will require $277 billion in investments for conventional nuclear power expansion by 2050.
- Some EU countries are considering Small Modular Reactors and other advanced nuclear technologies as alternatives or supplements to traditional large-scale nuclear plants.
- The EU is also pursuing nuclear fusion research as a potential long-term solution for energy independence and decarbonization.
The European Union countries planning to expand their nuclear power capacities will need as much as $277 billion (241 billion euros) in investments by 2050, according to Brussels’ estimates.
That’s only the investment needed for the conventional large-scale nuclear reactors currently in the plans of nearly half of the EU member states. The sum doesn’t include investment in Small Modular Reactors (SMRs), Advanced Modular Reactors (AMRs), or microreactors, or investment in nuclear fusion efforts.
Some EU countries are open to returning to nuclear power generation, but only via SMRs and other advanced nuclear energy technology—not conventional large-scale nuclear power plants. These will require additional billions of U.S. dollars in investment.
Delivering the EU’s current plans to boost nuclear energy capacity will require $277 billion (241 billion euros), both for lifetime extensions of existing reactors and the construction of new large-scale reactors, the European Commission said in its latest assessment of nuclear investment needs by 2050.
While the EU’s biggest economy, Germany phased out nuclear power in 2023, some other EU countries see nuclear energy as an important part of their decarbonization, industrial competitiveness, and security of supply strategies.
Back in 2023, nuclear power plants in 13 EU countries produced 22.8% of the bloc’s electricity. Nuclear installed capacity across the EU is projected to grow from 98 GWe this year to around 109 GWe by 2050.
The Commission estimates that more than 90% of electricity in the EU in 2040 will be produced from low-carbon sources, primarily renewables, complemented by nuclear energy.
“Crucially, all zero and low carbon energy solutions are needed to decarbonise the EU’s energy system,” the Commission said as the EU acknowledges that nuclear energy will be needed to complement renewables.
“To truly deliver the clean energy transition, we need all zero- and low-carbon energy solutions,” said Dan Jørgensen, Commissioner for Energy and Housing.
“Nuclear energy has a role to play in building a resilient and cleaner energy system.”
Many EU countries have drafted plans to increase nuclear power capacity or even return to nuclear energy after decades of no nuclear generation, as they look to reduce imports of fossil fuels and meet emissions reductions and net-zero goals with more nuclear power.
Some EU countries have started considering a return to nuclear power after four decades—the latest examples include Denmark and Italy, which are looking at small modular reactors (SMRs) to complement their renewable energy generation.
These reactors are believed to be simpler and cheaper to build and install. Because of their smaller size, it is possible to install SMRs on sites that are not suitable for bigger reactors. They are also expected to be more affordable and faster to construct than conventional reactors, though real-world costs and timelines have yet to be fully proven. SMRs can also be built incrementally to meet growing energy demand.
But the required investment in SMRs will be in addition to the $277 billion the EU estimates is necessary for large-scale conventional reactors.
So, the price tag of Europe’s nuclear power ambitions will be much higher. While SMRs hold promise, they are unlikely to be deployed commercially before the 2030s, and large-scale conventional reactors are notoriously facing delays and cost overruns.
Europe is also looking to support nuclear fusion—the opposite of nuclear fission used in current power plants.
The EU is preparing for a future with nuclear fusion energy too, the Commission said in its assessment report.
The EU’s flagship project ITER, based in France, is the world’s largest fusion experiment aimed at demonstrating the scientific and technological feasibility of fusion. The multinational endeavor, including the EU, has just completed the final component of its pulsed superconducting electromagnet system—the world’s largest and most powerful—in a landmark moment for fusion research.
“It is very important to anchor further investments in ITER and fusion in general in a broader European action aimed at mastering fusion not just as a research topic, but also as a tool for long-term energy independence, decarbonisation as well as nearer-term European industrial competitiveness,” the Commission said.
In a move forward for nuclear fusion experiments, Germany-based start-up Proxima Fusion this month announced the raising of a $150 million financing round—the largest private fusion investment in Europe to date.
By Tsvetana Paraskova for Oilprice.com
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Tsvetana Paraskova
Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.
