Plan NuclearEurope: 241 billion euros for the EU's energy sovereignty.

The European Nuclear Association (NuclearEurope) has published a new action plan calling for urgent acceleration of investments in nuclear energy. With an estimate that by 2050 at least 241 billion euros in investments are needed, the document clearly defines nuclear energy as the backbone of European decarbonization, energy stability and competitiveness

As Europe continues to rely on energy imports (even 58.4% in 2023), NuclearEurope proposes a shift toward “strategic autonomy”. The plan foresees increasing installed nuclear capacity from the current 98 gigawatts to 109 by 2050, with optimistic scenarios reaching as much as 150 gigawatts – which would be enough to power more than 250 million households.

Five key points for changing course

The association proposes five concrete steps to overcome bureaucratic and financial barriers:

1. Long-term energy vision: abandoning ideological divisions and adopting a technology-neutral policy that treats nuclear energy and renewable sources on an equal footing.
2. Fair financial framework: enabling equal access to public and private funds, with mandatory integration of nuclear energy into the taxonomy of sustainable investments.
3. Regulatory acceleration: shortening permit procedures and harmonization of standards among member states.
4. Strengthening the supply chain: focus on the fuel cycle, including recycling, to reduce dependence on external suppliers.
5. European industrial chain: support for European technologies to preserve strategic independence.

Why has nuclear energy suddenly become a “must-have”?

President of NuclearEurope, Havier Ursat (Xavier Ursat), emphasizes that this is a technology that is not only low-carbon but also a cost-effective long-term foundation of the system. “Nuclear energy is a domestic technology that will ensure energy sovereignty. It is an ideal partner in the decarbonization of the economy,” Ursat said.

Certainly, it is clear that this plan comes as a direct response to the energy crisis and geopolitical instabilities, but also at a moment of the long-awaited renaissance of nuclear energy, which is slowly but turning out to be an indispensable resource. Additionally, we must reflect that this European renaissance has two sources: geopolitical (the stance toward Russia and the drive for emancipation from Russian gas (but, as noted, not from other energy producers)) and technological, namely the emergence of a new and energetically very energy-hungry technology.

And at a time when European industry faces high energy prices, and demand for electricity is rising due to the expansion of the AI sector and data centers, nuclear energy offers what other sources currently cannot – stability and availability 24 hours a day and 7 days a week.

Thus, a scenario of 150 gigawatts, which the plan mentions, could reduce Europe’s gas consumption by as much as 180 billion cubic meters per year, which would fundamentally change the EU’s economic structure.

However, the key challenge remains the same: speed (and closely tied to it: price). NuclearEurope is calling for urgent investments, but European policy still faces internal divisions: a hard core of countries that simply do not want to have nuclear energy in their energy mix (let's name just the most high-profile ones: Germany, Austria, Greece) remains relatively small but fixed, and their positions are quite firm and do not seem to change soon.

So the question is whether European institutions will have enough political courage to “unlock” the money before the energy crisis knocks on the door again.