nuclear-news

European Investment Bank makes first investment in modular nuclear reactors

by Global Banking & Finance Review, September 15, 2026

Quick Summary

The European Investment Bank has extended a €40 million loan to Finnish startup Steady Energy to support its development of a 50 MW small modular reactor for district heating—its first investment in SMR technology, anchored within the EU’s broader strategy to deploy SMRs by the early 2030s.

………….Currently, only two commercial SMRs are in operation, in Russia and China. The European Commission wants Europe to have its first SMRs up and running by the early 2030s.

Industry and Political Reactions

“The EIB’s support to nuclear sends a positive signal to investors,” said Emmanuel Brutin, the head of industry association nucleareurope.

EU Policy and Nuclear Energy

EU countries have long been at loggerheads over whether to promote atomic power, reflecting a split between members like France and Sweden which have nuclear power plants, and traditionally anti-nuclear countries like Germany and Austria, which cite concerns over safety and nuclear waste management.

As a result, the EU budget does not directly fund nuclear plants, although the EIB loan to Steady Energy comes with an EU budget guarantee. 

Future Prospects for SMRs

More than 80 SMR designs are in development worldwide, according to the International Atomic Energy Agency. ($1 = 0.8662 euro)………………………………………………………………..

EIB’s Loan to Steady Energy

The EIB will provide a €40 million ($46.18 million) loan to Finnish nuclear energy startup Steady Energy, which is developing a small modular reactor for producing heat, for a local district heating network, the bank said in a statement.

The loan is the first in a pipeline of SMR investments the EIB has planned, an official told Reuters. 

Technical Details of the Project

The 50-megawatt reactor, which is still in the concept stage, will use existing light water reactor technology, in which water moderates the nuclear chain reaction and cools the reactor. It is designed to be built underground, to [?] increase the reactor’s security.

Currently, only two commercial SMRs are in operation, in Russia and China. The European Commission wants Europe to have its first SMRs up and running by the early 2030s.

Industry and Political Reactions

“The EIB’s support to nuclear sends a positive signal to investors,” said Emmanuel Brutin, the head of industry association nucleareurope.

EU Policy and Nuclear Energy

EU countries have long been at loggerheads over whether to promote atomic power, reflecting a split between members like France and Sweden which have nuclear power plants, and traditionally anti-nuclear countries like Germany and Austria, which cite concerns over safety and nuclear waste management.

As a result, the EU budget does not directly fund nuclear plants, although the EIB loan to Steady Energy comes with an EU budget guarantee. ……………………………………………….https://www.globalbankingandfinance.com/eib-makes-first-investment-modular-nuclear-reactors/

September 18, 2026 - Posted by Christina Macpherson | EUROPE, Small Modular Nuclear Reactors