Europe’s Nuclear Revival: Accelerating SMR Development

After years of focusing on renewable energy, the European Union is channeling resources into developing small modular reactors (SMRs) and strengthening its nuclear infrastructure.

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The European Union (EU) is initiating a significant shift toward nuclear energy with a clear political commitment and concrete initiatives. This strategic pivot occurs amidst growing economic, geopolitical, and energy transition challenges.

After a decade dominated by investments in renewable energy, Europe now acknowledges the need to diversify its decarbonized energy sources. According to Attila Steiner, Hungarian State Secretary for Energy and Climate, nuclear energy is “inevitable” to ensure energy independence and achieve climate goals. Hungary, holding the EU presidency in 2024, played a key role in aligning the 27 member states around a unified approach.

A New Model for SMRs

The European Commission announced the creation of the SMR Alliance (Small Modular Reactors) in February 2024. This consortium brings together businesses, financial institutions, research centers, and NGOs to accelerate the deployment of these technologies. The goal is to install the first modular reactors in Europe by the early 2030s, meeting demands for both speed and industrial standardization.

Massimo Garribba, Deputy Director-General for Energy at the European Commission, emphasized that Europe must “catch up” with Asia and the United States, which have invested heavily in nuclear energy over the past two decades.

Financing and Competitiveness

The EU is also exploring innovative financing mechanisms. Among them, a “competitiveness fund” proposed by Commission President Ursula von der Leyen could include direct support for nuclear projects. Discussions around this fund are planned for the 2028–2034 budget, with initial projects potentially proposed by 2025.

The role of the European Investment Bank (EIB) is also under review. Historically focused on renewables, the EIB is now considering investments in SMRs, offering new momentum for the European nuclear sector.

Legal and Reputational Challenges

Challenges remain, however. Nuclear energy’s reputation, often marred by cost overruns and delays, needs rebuilding. Alan Woods, Director at Rolls Royce SMR, stressed that a standardized approach with units built in factories is essential to convince investors and ensure timely delivery.

Moreover, legal adjustments are necessary to address specific issues surrounding SMRs, particularly safety and liability concerns. As Ximena Vasquez-Maignan, legal counsel at White & Case, noted, while Europe’s legal framework is robust, it requires adaptation to tackle these emerging challenges.

Geopolitical Motivations

This pivot toward nuclear energy also serves as a strategic response to recent energy crises exacerbated by Russia’s 2022 invasion of Ukraine. Disruptions in natural gas supplies and the urgency to accelerate decarbonization have prompted a reevaluation of energy priorities in Europe.

Simultaneously, national and European elections have strengthened political coalitions favoring nuclear energy, marking a decline in influence for Green parties that remain skeptical about this technology.

The General Court of the European Union has rejected Austria’s appeal against the inclusion of gas and nuclear energy in the classification of sustainable investments.
Kazakhstan has signed an agreement with Nukem Technologies Engineering Services GmbH to benefit from German expertise in nuclear decommissioning and radioactive waste management.
The European Court of Justice annulled the European Commission's authorisation of Hungarian state aid for the Paks II nuclear project, questioning compliance with EU public procurement rules.
A Chinese consortium has secured a CNY4.2bn ($594mn) contract for the construction of conventional islands for the Xuwei nuclear project, combining third and fourth generation reactors.
Rosatom and China National Nuclear Corporation signed a memorandum of understanding to strengthen bilateral cooperation in talent development and skills training in the nuclear sector.
Iran has reached a new agreement with the International Atomic Energy Agency to formalise the resumption of inspections, following months of suspension linked to military tensions and criticism of its nuclear programme.
The French Energy Regulatory Commission outlines a structured plan to accelerate the deployment of small modular reactors, focusing on industrial heat and series effects to enhance competitiveness.
US-based Nuclearn has secured $10.5mn to scale its artificial intelligence platform, already deployed in over 65 nuclear reactors, to automate critical operations amid rising energy demand.
The steel dome of the CAP1000 Haiyang 4 reactor has been positioned, a major construction milestone paving the way for upcoming maintenance and technical installation phases.
The Groupement des Industriels Français de l'Énergie Nucléaire and the Belgian Nuclear Forum formalise a partnership aimed at strengthening industrial exchanges and joint projects between the two countries’ nuclear sectors.
US-based Oklo will build the country’s first privately funded nuclear fuel recycling centre in Oak Ridge, investing $1.7bn and creating over 800 jobs.
The Tennessee Valley Authority partners with ENTRA1 Energy to develop up to 6 gigawatts of modular nuclear capacity, in an unprecedented project supporting energy growth across seven U.S. states.
A report by the International Atomic Energy Agency puts Iran’s 60% enriched uranium at 440.9 kg before Israeli and U.S. strikes, while the agency’s access to enrichment sites has remained suspended since the operations.
US-based Westinghouse has signed six industrial agreements in the UK to supply critical components for its AP1000 and AP300 nuclear projects in Britain and abroad.
NANO Nuclear Energy receives direct funding from the US Air Force innovation branch to assess the integration of its KRONOS MMR™ microreactor at the Washington D.C. military base.
EDF extends the operation of Heysham 1 and Hartlepool by one year after favourable safety inspections, ensuring continuity of nuclear production and safeguarding more than 1,000 jobs.
Russian nuclear group Rosatom has confirmed advanced discussions with India and Turkey to launch new power plants, including advanced and floating reactor technologies.
The International Atomic Energy Agency has identified uranium particles of industrial origin in samples taken from a Syrian site suspected of hosting an undeclared nuclear reactor.
Norwegian authorities begin the first regulatory phase for two modular nuclear reactor projects, marking a strategic step in the national review of the potential role of nuclear energy in the country’s power mix.
With eleven reactors under construction and major projects such as Jaitapur, India is preparing a nuclear build-up that could place it among the world’s five leading nations in the sector.

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