EU launches first nuclear Project of Common Interest (IPCEI)

The European Commission (EU) has formally initiated the design phase of the inaugural Important Project of Common Interest (IPCEI) concerning nuclear energy. This announcement was made in Brussels during a high-level meeting of the Joint European Forum on Important Projects of Common European Interest. The IPCEI project, under the leadership of France with the support of Italy and Romania and open to subscription by other Member States, will be entirely dedicated to the atom, involving mini modular reactors and advanced reactors, uranium processing, supply chain, research and development of nuclear fusion technologies and diversification of nuclear production for medical purposes. The IPCEI project is a manifestation of the collaborative approach between Member States, which is deemed essential to address current energy challenges, as emphasised by Executive Vice-President Teresa Ribera. This collaborative approach enables the joint financing of strategic and innovative industrial projects that exceed the economic capacity of a single country. Stéphane Séjourné, the other Executive Vice-President, also emphasised the importance of investing in technological innovation for creating a globally competitive European nuclear ecosystem while respecting the achievement of common climate objectives.