European Strategic Investment in Small Modular Reactors to Boost Decarbonisation and Energy Security
The European Commission is preparing a significant energy strategy centred on the deployment of small modular reactors (SMRs) to reinforce energy independence and accelerate decarbonisation efforts. A detailed plan, supported by an investment of approximately 240 billion euros, aims to extend the lifespan of existing nuclear plants and build new reactors by 2050.
European Vice President Teresa Ribera has announced that she will present a comprehensive plan positioning SMRs as a key tool for achieving energy sovereignty, supporting industries with difficult electrification like chemical manufacturing, steel, and refining. This move aligns with broader EU goals to reduce reliance on fossil fuels and foster technological innovation in nuclear energy.
The strategy emphasises establishing Europe-wide co-operation among regulators and industry to streamline licensing procedures and standardise safety protocols. It advocates prioritising certain innovative designs, including light water SMRs and Generation IV advanced reactors, to facilitate serial manufacturing, reduce costs, and shorten deployment timelines.
By promoting a fleet approach, the EU intends to create an industrial ecosystem capable of producing significant capacity — potentially between 17 and 53 gigawatts by 2050 — which would bolster local job creation and technological sovereignty. Additionally, the strategy highlights the importance of linking SMRs to industries such as hydrogen production, data centres, and urban heating networks to maximise economic and environmental benefits.
To mitigate investment risks, dedicated financial instruments will be deployed, encouraging private capital participation. An essential component of the plan involves activating cross-border cooperation to deliver harmonised standards and safety protocols, essential for fostering public trust and investor confidence.
The EU envisions that initial commercial deployment of SMRs could occur in the early 2030s, marking a new phase in Europe's nuclear renaissance. The broader investment strategy estimates the total funding needed until 2050 to sustain nuclear infrastructure renewal, supporting the sector's role in Europe's transition to a low-carbon energy system.
Europe aims for more than 90 per cent of electricity to be decarbonised by 2040, with nuclear power playing a complementary role alongside renewable sources. The installed nuclear capacity is expected to increase from 98 gigawatts today to around 109 gigawatts by mid-century, ensuring a robust and dependable low-carbon backbone for European energy systems.
Throughout this process, the focus remains on maintaining high safety standards, improving waste management infrastructure, and ensuring cost-effective decommissioning measures. These priorities reflect Europe's broader commitment to secure and sustainable energy futures, balancing technological innovation with safety and environmental protection.