nucleareurope discusses nuclear’s role in energy transition at Politico Sustainable Future Week

On 4 December 2024, nucleareurope Director General Yves Desbazeille participated in a panel discussion exploring whether nuclear can be a non-carbon energy alternative, taking place as part of the Brussels held Politico Sustainable Future Week.

In his intervention, Yves stressed that all net-zero technologies will be necessary to reliably meet electricity demand, and called for technology neutrality in EU policy, highlighting that policymakers should focus on reaching decarbonisation targets, rather than cherry picking technologies. Yves further insisted on the importance of avoiding to enter into a ‘nuclear versus renewables’ debate, and the need to focus on mobilising all available net-zero sources.

Questioned about the financing of new nuclear, Yves noted that nuclear could mobilise public investments from governments as well as private finance. He added that given that nuclear projects provide important returns on investment in the long-term, the implementation of policies providing a long-term vision is key to derisk investments in nuclear.

“Multiple financing models exist, and there is definitely a business case for nuclear, with for example tech giants such as Microsoft, Google and Amazon investing in both large and small nuclear reactors” said Yves, adding that nuclear projects could also be a good fit for pension funds investments, with similar return on investments timelines.

As the discussion shifted to the political situation in Germany, and a potential change of the country’s stance on nuclear energy, Yves commented that the dismantling of Germany’s nuclear capacity has led to an important reduction in dispatchable electricity capacities in Europe, with coal based, carbon intensive production rising when there is little wind or sun, as was the case in early November.