Brussels, April 23, 2026 EU funds small modular nuclear reactors with 200 million euros
The European Commission announced plans to invest €200 million in the development of small modular nuclear reactors (SMRs) as part of a broader strategy to revive nuclear energy in Europe.
Strategic Shift in European Energy Policy
European Commission President Ursula von der Leyen declared that abandoning nuclear power had been a misstep, stating verbatim in German: *"Die Abkehr von der Kernenergie sei ein strategischer Fehler gewesen"* ("The move away from nuclear energy was a strategic mistake"). The funding initiative marks a significant policy reversal, aiming to position Europe as a leader in next-generation nuclear technology.
Small modular reactors, which produce between 50 and 300 megawatts of electricity, are seen as a flexible alternative to traditional nuclear plants, which typically generate 1,000 megawatts or more. Their smaller size and modular design make them easier to integrate into existing power grids, reducing infrastructure challenges. The Commission emphasized that while SMRs may not lower electricity costs, they mitigate financial risks associated with large-scale reactor projects, which often face delays and budget overruns.
Advantages and Global Competition
Private investors are showing growing interest in SMRs due to their lower upfront costs compared to conventional nuclear plants. Rolls-Royce, Terra Power (backed by Bill Gates), and other firms are actively developing SMR technologies, with deployment in Europe expected by the early 2030s.