| Project Detail |
The project is to expand the existing uranium enrichment capacity in Oranos Tricastin nuclear fuel facilities in the France. The new installations will use modern centrifuge technology. Additionality and Impact The Project will increase the uranium enrichment production capacity by more than 30% at the Promoters site in Tricastin. The Project fulfils the EU objective of nuclear fuel diversification and security of supply, as reflected in the Euratom policy and in the REPowerEU Plan. In line with Frances NECP, the investment will contribute to strengthening European uranium enrichment capacities. The overall rating of the projects contribution to policy goals is rated as good, considering that the site is partially located in a Cohesion Region. The investment contributes towards increasing security of supply by reducing dependency on enriched uranium imports. Moreover, the investment will enable the production of dispatchable low-carbon energy. The Project will yield very good quality and results due to a very good economic rate of return, good broader social benefits, fair employment creation and a very good ESG rating. The combination of a longer maturity and relatively favourable pricing are benefiting the Company. The loan provides diversification of the Borrowers financing sources as this operation will be the first with the Bank, and it complements other funding sources, a combination of bank debt and debt capital market instruments which, given the current market conditions, are more volatile. Objectives Enhancing capabilities in uranium enrichment contributes to EU energy strategic autonomy, reducing dependence on non-EU countries for critical materials and services. With its own enrichment facilities, the EU can ensure a stable and controlled supply of fuel for its nuclear reactors. Sector(s) Energy - Manufacturing Proposed EIB finance (Approximate amount) EUR 400 million Total cost (Approximate amount) EUR 1896 million |
