Brussels: The European Commission emphasized that this significant funding is essential to support member states’ efforts in extending the life of existing nuclear reactors and constructing new large-scale facilities. The investment also aims to accelerate the development of small modular reactors and nuclear fission projects.

According to the Commission, financing must come from both public and private sectors to ensure the long-term success of this strategy. It reiterated that all zero- or low-carbon energy sources—particularly renewables like wind and solar, as well as nuclear—are critical to the EU’s decarbonization goals.

By 2040, the EU expects over 90 percent of its electricity to be generated from carbon-free sources, with nuclear playing a supporting role alongside renewables.

The announcement comes as countries like France and Belgium continue to champion nuclear energy, while Poland plans to break ground on its first nuclear power plant in 2028.