Company says target date for commissioning first reactor at Penly is set for 2038
The provisional cost estimate for EDF’s programme to build six new-generation EPR2 nuclear reactors at the Penly, Gravelines and Bugey sites in France is €72.8bn ($85.4bn), the company told its board of directors on 18 December.
The French state power company said in a statement the provisional budget will be audited in the first quarter of 2026 by the Interministerial Delegation for New Nuclear Energy, a government body established to oversee and coordinate the nation’s ambitious nuclear new-build plans, especially the EPR2 reactor programme.
For 2026, the EDF board has approved a budget allocation of €2.7bn for the programme.
EDF said the target date for commissioning the first reactor at Penly is set for 2038, with a schedule of 12 to 18 months for the commissioning of subsequent unit.
The EPR2 programme will be supported by state aid measures, details of which were submitted to the European Commission for approval on 19 November with a view to a final investment decision at the end of 2026.
Measures include a subsidised loan to finance at least half of the construction costs, a 40-year contract for difference (CfD) and a risk-sharing arrangement between the state and EDF. A CfD is a subsidy model that guarantees a specific price – known as the “strike price” – per unit of electricity once a nuclear plant up and running.
EDF has already submitted an application for authorisation to build two EPR2 plants at Penly in Normandy, northern France. A second pair of EPR plants is being planned for Gravelines, about 170 km northeast of Penly.
EDF said in October that it was planning to submit an application for an environmental permit and begin preparatory work as early as 2027 for a two EPR2s at the Bugey site, in southeastern France.
Bugey would be the third project in a major French plan to deploy new EPR2 units.
Macron Aiming For ‘Rebirth’ Of Nuclear Industry
The plans were announced by president Emmanuel Macron during a speech in 2022. He said the new units would be part of a programme for a “rebirth” of France’s nuclear industry with the possible construction of 14 EPR2 units and operating extensions for older nuclear plants from 40 years to 50 years or more.
In addition to the six EPR2 units at Penly, Gravelines and Bugey, another eight could also be built on existing sites.
Macron is bullish on nuclear. His government has asked state nuclear operator EDF to accelerate efforts to finalise its plans to build the six new EPR2 plants.
France’s share of generation from its fleet of 56 nuclear plants last year was about 62% – the highest in the world. However, it only has one commercial plant under construction, the Flamanville-3 EPR plant, a project which has been hit by cost overruns and delays. Flamanville-3 was connected to the grid in December 2024, but has not yet begun full commercial operation.
Eleven pro-nuclear European governments led by France have said nuclear should be part of the EU’s energy policies and the European Commission should facilitate the development of the technology in Europe.
