The European Commission president today announced a €200 million guarantee to support private investment in innovative nuclear technologies, aimed at avoiding “the vulnerabilities” exposed by the Middle East’s oil and gas imports.
“We need to mobilise investment and today I can announce that we will create a €200 million guarantee to support private investment in innovative nuclear technologies. The resources will come from the Emissions Trading System — not only to reduce the risk of investments in these low-carbon technologies, but also to send a clear signal for other investors to join,” said Ursula von der Leyen.
Speaking at the Nuclear Energy Summit in Paris, she recalled that “Europe is not a producer of oil or gas.”
“For fossil fuels, we depend entirely on expensive and volatile imports, which places us at a structural disadvantage compared to other regions. The current crisis in the Middle East is a clear reminder of the vulnerabilities this creates,” she added.
Noting that “electricity prices in Europe are structurally too high,” von der Leyen argued that “affordable electricity is not only important for citizens’ cost of living, but also decisive for industrial competitiveness.”
The alternative, in her view, lies in nuclear energy, which “is reliable, providing electricity all year round, 24 hours a day.” “The most efficient system combines nuclear energy and renewables, supported by storage, flexibility and electricity grids,” she added.
The European Commission believes that the combination of nuclear and renewable energy could strengthen the bloc’s energy independence.
Von der Leyen’s announcement includes a new European strategy for small modular reactors — a next-generation nuclear technology that Brussels wants to see operational in Europe in the early 2030s. The goal, according to the Commission president, is to strengthen European industrial competitiveness and ensure affordable energy for the future.
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The strategy also foresees simplifying regulatory rules, creating testing environments for innovative technologies and strengthening cooperation between member states to accelerate licensing and develop skills in the sector.
