Europe Invests €500 Billion in Nuclear Plants until 2050

European Commissioner  Thierry Breton has predicted that the new generation nuclear power plants in Europe will require investments of € 500 billion until 2050.

The European Commissioner for the Internal Market said that only existing nuclear power plants need an investment of € 50 billion until 2030. Another €  500 billion will be needed by 2050 for the new generation of plants, according to the French newspaper Le Journal du Dimanche.

Breton emphasized the classification of nuclear power as an economy where investment does not harm the climate.

He announced that it is waiting to achieve "carbon neutrality", which it expects to achieve by 2050, and nuclear power and natural gas combustion could be included in the plan.

He believes that this decision will facilitate attracting investment in infrastructure that contributes to the fight against climate change.

For Breton, greening nuclear power will be central to the transition to clean energy, as the goal of achieving carbon neutrality by 2050 requires massive investment.

He believes that "the inclusion of nuclear energy in the rating is critical to enabling the industry to attract the capital it needs," according to the paper.

The European Commissioner explained: “The environmental transformation will necessitate an industrial revolution on an unprecedented scale.

As well as competition for capital between different energy sources. For example, only renewable energy will need to invest € 65 billion annually.

He pointed out that the European countries have to add   € 45 billion in annual investments to create additional network infrastructures.

Breton believes that by 2050, nuclear power will make up at least 15% of the EU's energy balance.