DEN 19 | Europe’s Bid to Turn Nuclear Innovation into Industrial Capacity

As electrification, AI infrastructure, and energy-security goals increase electricity demand, nuclear energy offers low-carbon, dispatchable baseload power that complements variable renewable generation. However, traditional large-scale nuclear projects face high upfront capital requirements, extended construction timelines, and severe financial exposure to high interest rates.  SMRs offer an alternative deployment model. By leveraging standardized factory production, modular scalability, shorter construction cycles, and lower absolute investment thresholds, SMRs aim to reduce capital risk and broaden project financing options. This strategy is exemplified by the European Commission's SMR Strategy and France's NUWARD initiative.  For Greece, integrating SMRs presents a prospective long-term opportunity to enhance energy security, reduce dependency on imported natural gas, and decarbonize energy-intensive industries and maritime transport. Capturing these benefits requires prioritizing early institutional readiness, regulatory harmonization, and spent-fuel management frameworks to establish a viable pathway.