EU Commission approves French aid for nuclear energy support

The European Commission has approved a Âpound 300 million French measure to support Electricité de France's (EDF) subsidiary Nuward in researching and developing small modular nuclear reactors ('SMRs'), in accordance with EU State aid rules. This initiative aligns with the objectives of the European Industrial Strategy and the European Green Deal, as highlighted in the Commission's statement on Friday. The project aims to develop simple and modular processes for designing and constructing small modular nuclear reactors (SMRs) with a power output of 300 MWe or less. This is the third phase of Nuward's overall project, which has five phases. In December 2022, the Commission approved a Âpound 50 million French measure to support the second phase of the project, focused on gaining new knowledge for SMR design and construction. The aid will be issued as a direct grant of up to Âpound 300 million, funding the Research and Development project until early 2027. The Commission acknowledged the potential role of SMRs in meeting the energy and climate goals outlined in the European Green Deal. In its February 2024 recommendation for a 2040 emission reduction target, it emphasized the necessity of zero and low-carbon solutions to achieve the EU's climate neutrality objective by 2050. The Commission is creating a new European Industrial Alliance to speed up the development, testing, and use of SMRs in Europe by the early 2030s. They've just put out a call for members to join. Source: Kuwait News Agency