The inclusion of nuclear energy in the EU Taxonomy opens up private financing opportunities for this type of projects, it is shown in a release of the Roman Atomic Forum ROMATOM.

“Romania’s nuclear industry currently provides 12,600 jobs and has an annual contribution to GDP of 5.7 billion euro. These figures will increase in the context of starting new projects with a strategic role in the nuclear field, already undertaken by Romania: completion of Units 3 and 4 from Cernavoda NPP that will double the amount of safe and clean energy produced in our country from nuclear sources, the refurbishment of Unit 1 that will allow the extension of life by another 30 years, the development of Generation IV reactor Alfred from Pitesti, of the detritification plant,” said Lucian Rusu, president of ROMATOM.

Romania also aims to be at the forefront of implementing small modular reactor (SMR) technology in Europe, by selecting the first potential location in Doiceşti. The location of the production chain for SMR in Romania will lead to the creation of new jobs and the development of the horizontal industry, research, education, business environment.

“Also, ADC, through the possibility of attracting private financing, will allow the development of new projects such as the production of hydrogen from nuclear sources or radioactive cobalt for the medical field, projects explored by ROMATOM and the operator SN Nuclearelectrica SA. Hydrogen from emission sources low in carbon, such as nuclear power, is a vehicle for the decarbonisation of the energy-intensive industry, its role being clearly recognized by the new REPowerEU plan recently launched by the European Commission,” Rusu added.

The adoption of ADC with clear support at European level is all the more important in the current geopolitical context, in which member states have committed themselves to reducing their dependence on energy imports from Russia. Nuclear energy and natural gas, from indigenous and diversified external sources, will play a key role in ensuring security of supply, energy independence coupled with the achievement of decarbonization objectives. Nuclear power has the lowest lifetime greenhouse gas emissions of all energy sources, currently providing 30% of total primary energy produced in the EU and 18% of national domestic consumption. Also, through the low dependence on external imports (the cost of raw materials being very low in the cost of production) and the low volatility of the market for raw materials (uranium is mined both in the EU and imported from third countries, located in stable geopolitical areas, a high degree of diversity of suppliers), nuclear energy can help stabilize the price of energy for consumers.

“The inclusion of nuclear energy in the EU Taxonomy is a well-deserved victory, a recognition of the importance of this energy source for the EU’s energy and economic stability and for achieving climate neutrality in 2050. In the context in which the European Union is facing a humanitarian crisis, doubled by an energy crisis, the financing of nuclear projects on an efficient and equitable basis is a signal for the rebirth of the European nuclear program. Decarbonisation, the EU’s economic recovery after the pandemic and the war and independence from energy imports would not be possible without increasing the contribution of nuclear energy,” also said Teodor Chirica, honorary president of ROMATOM.