Exclusive E.U. Says Investments Of Up To €500 Billion Needed in Nuclear Energy

The European Commission is calling on Europe’s utility companies to make major investments in nuclear energy in a report which Handelsblatt has seen in advance of its publication. In its new report on the state of the nuclear industry, the Commission estimated that to secure energy supply across the 28-nation bloc, investments of between €450 billion and €500 billion are needed in nuclear power by 2050. The report, which is to be released in the coming weeks, states that because of Europe’s growing electricity needs, nuclear power is unavoidable. Of the sums the report suggested, between €45 billion and €50 billion would be needed to maintain power stations while the rest would need to be invested in building new plants. The proposal directly opposes Germany’s decision to phase out nuclear and fossil-fueled energy in favor of renewables. Read more in Wednesday’s Handelsblatt Global Edition at 12:00 CET. Picture source: Imago