Orano secures €400M loan from EIB for uranium enrichment plant expansion

Orano has secured a €400 million loan from the European Investment Bank to finance the expansion of its Georges Besse II uranium enrichment plant at Tricastin, aiming to increase its capacity by 30% by 2028.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

The French uranium cycle specialist Orano has announced it has secured a €400 million loan from the European Investment Bank (EIB). This funding is intended to support the expansion of the Georges Besse II uranium enrichment plant, located at the Tricastin site in the Drôme and Vaucluse departments. The project aims to increase the plant’s enrichment capacity by 30% by 2028, raising its annual production to approximately 10 million separative work units (SWU).

The total investment for this expansion is estimated at €1.7 billion, with part of it covered by the EIB loan. The project includes the construction of four new enrichment modules, adding to the existing fourteen. This expansion is designed to meet growing demand for enriched uranium, particularly from countries seeking to diversify their supply sources due to current geopolitical tensions.

Geopolitical and strategic context

Russia’s invasion of Ukraine in February 2022 has highlighted the dependence of many Western countries on Russian-enriched uranium. Rosatom, the Russian state atomic energy corporation, controls approximately 45% of the global uranium enrichment market. This situation has prompted companies such as Orano to increase their production capacity to strengthen their clients’ energy independence.

The role of the EIB in nuclear financing

The EIB, regarded as the financial arm of the European Union, had not financed nuclear projects in France since 2008. The approval of this loan by a majority of its board of directors marks a significant shift, reflecting a growing recognition of nuclear energy’s role in the energy transition.

According to Ambroise Fayolle, vice-president of the EIB, this financing “contributes to European energy independence.” He also emphasised that decarbonised energy sources are essential to enabling the European Union to meet its climate neutrality targets by 2050.

Amazon unveils new visuals of its upcoming nuclear site, marking a key step in its partnership with X-energy to deploy up to 960 MW of modular nuclear capacity in Washington state.
Canadian uranium producer NexGen Energy has completed a A$1bn ($639mn) equity raise split between North American and Australian markets to support the development of its Rook I project.
Tokyo Electric Power Company Holdings is examining the permanent closure of units 1 and 2 at the Kashiwazaki-Kariwa nuclear power plant, the oldest at the site, while continuing efforts to restart unit 6.
The formal expiration of the 2015 nuclear deal with Iran comes as international sanctions have already been reinstated and diplomatic negotiations remain stalled.
Oklo, newcleo and Blykalla partner to develop advanced nuclear fuel infrastructure in the United States, backed by a planned $2bn investment.
enCore Energy has identified three new uranium roll fronts at its Alta Mesa project, with ongoing drilling aimed at defining their extent and accelerating development work.
California-based Radiant will build its first microreactor production facility in Oak Ridge, on a former Manhattan Project site, with production targeted at 50 units per year by 2028.
EDF restarted the Flamanville EPR reactor after repairing non-compliant valves, delaying the target of reaching full power output of 1,620 MW until the end of autumn.
Nano Nuclear and the University of Illinois will begin drilling operations for the KRONOS MMR™ reactor on October 24, marking a key step toward commercialisation of the nuclear project on the Urbana-Champaign campus.
Natura Resources is finalising construction of the MSR-1, an advanced liquid-fuel nuclear reactor, with a planned launch in 2026 on the Abilene Christian University campus.
JPMorganChase commits $10bn in direct investments as part of a $1.5tn plan to boost energy independence and strategic technologies, including next-generation nuclear power.
A roadmap under development aims to establish regulatory and technical foundations for the deployment of small modular reactors, with the goal of strengthening national energy security and attracting private capital.
EDF adjusts its 2025 nuclear production forecast to between 365 and 375 TWh, supported by the performance of its industrial programme START 2025 focused on maintenance efficiency.
The United Nations nuclear agency is urging Ukraine and Russia to establish a local ceasefire to repair damaged power lines at the Zaporizhzhia plant, which remains on alert after losing all external power supply.
Deep Isolation is calling on First Mover States to incorporate radioactive waste management into their joint strategy to ensure the industrial viability of new nuclear reactors.
Canada’s nuclear regulator has approved the launch of a new building that will store used steam generators from Bruce Power's refurbishment programme.
Costain has been selected to upgrade essential utilities at the Sellafield nuclear site under a contract worth up to £1bn over fifteen years.
A 5,000-megawatt nuclear programme will be launched by the South African government with NECSA to support national electricity supply and reduce power cuts.
Canada’s IsoEnergy will acquire Australia’s Toro Energy for AUD75mn ($49mn), creating a diversified uranium production platform with assets across Australia, Canada and the United States.
The upcoming Sizewell C nuclear power plant secures its fuel supply through agreements signed with Urenco and Framatome, marking a key step in strengthening the United Kingdom’s long-term energy stability.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.