27 Jul (NucNet): The European Investment Bank (EIB) has decided after a review of its lending policies that it will provide loans to finance new nuclear power plant construction in Europe.
The bank said this week that its financing of nuclear investments has historically been kept in line with European Community policy. Its revised policy decision was made in line with recent European Union energy policy developments, particularly EU goals for greenhouse gas reductions and security of supply concerns.
Nuclear projects raise complex issues that need to be assessed with extreme care, the EIB said. “Among other things, nuclear generation projects imply not only the mobilisation of a large amount of capital (due to their high initial construction cost) but also significant future costs related to cost of nuclear waste disposal and plant decommissioning.”
The bank said such issues will constitute an integral part of the EIB’s own assessment of the proposed investment. More generally, it is important for the EIB to ensure that its involvement in the financing of nuclear activities will also provide a quality check.
>>Related reports in the NucNet database (available to subscribers)
EU Energy Chief Urges Nuclear Industry To help Shape European Policy (News in Brief No. 3, 28 March 2006)
UK Debate Can Become A Model For Europe, Says Industry Group (World Nuclear Review No. 13, 23 March 2007)