nuclear-news

France postpones financing decision of 6 new reactors – report

the firm’s Flamanville latest European pressurised reactor project cost EUR 19bn, almost six times the initial cost and faced significant delays.

(Montel) The official body responsible for a financing decision regarding six French new generation reactors has postponed approval from December until early next year amid political uncertainty, French daily Les Echos reported on Thursday.

Reporting by: Muriel Boselli28 Nov 2024

The government was mulling a zero interest loan to help EDF finance the project, it added, though there was a current budget stand-off following a snap election this summer.

This loan option, considered quicker to implement, would cut financial risks due to a mechanism approved by the European Commission, already used in the Czech Republic for its new nuclear project, the daily reported.

The loan would include a zero interest rate for the duration of the works, before moving to a “reasonable” rate once the reactors had been commissioned, the sources said.

This financial package could reduce the total cost of the project, estimated at EUR 67.4bn.

EDF aims to build six and possibly 14 new reactors by 2050, with construction due to start at the Penly nuclear power plant on the Channel coast by 2027. The utility plans to take a final decision in 2026.

However, the firm’s Flamanville latest European pressurised reactor project cost EUR 19bn, almost six times the initial cost and faced significant delays.

December 2, 2024 - Posted by Christina Macpherson | business and costs, France