Financing for nuclear projects within the European Union remains the central bottleneck for a real nuclear renaissance and clearer public policies are required to stimulate private investment, Brussels-based thinktank the Centre for European Policy Studies (CEPS) says.

CEPS said that while the advent of small modular reactors (SMRs) might eventually alter the dynamic, strong public backing, as well as funding, remained indispensable.

“This doesn’t diminish the role of private investment,” CEPS said. “Strong political and policy support, including de-risking options such as state-backed guarantees, are essential for underpinning private investment and lowering financing costs.”

CEPS added that private investors would only commit to financing projects if EU states provide “robust, transparent risk-sharing to kickstart deployment”.