The UAE Contemplates Investing in European Nuclear Power Initiatives

1. UAE’s state-owned nuclear energy group, ENEC, is interested in investing in nuclear power projects in Europe.
2. ENEC has held discussions with British officials about potentially investing in projects like Sizewell C.
3. The Barakah nuclear power plant in the UAE is delivering electricity to the grid, with plans for all four reactors to be fully operational.

The United Arab Emirates (UAE) state-owned nuclear energy group has shown interest in supporting nuclear power projects in Europe, following the successful operation of the fourth unit of the Barakah nuclear power plant, a top plant in 2021. The Emirates Nuclear Energy Co. (ENEC) has discussed potential minority investments in European nuclear power assets with European leaders, particularly in the UK, after signing a memorandum of understanding on civil nuclear cooperation in December. Both the UAE and Saudi Arabia aim to diversify their oil-dependent economies by investing in new sources of energy, such as nuclear power.

British officials have expressed a desire for additional private investment in the Sizewell C nuclear power project, from which China General Nuclear was removed due to strained relations with the Chinese government. ENEC, in collaboration with Korea Electric Power Corp., constructed the Barakah Nuclear Energy Plant, which will have 5,600 MW of generation capacity when all four reactors are operational. The growth and investment plans of ENEC include exploring collaboration opportunities in civil nuclear projects and clean energy technologies, including potential investment partnerships for new nuclear energy projects in Europe.

Nuclear power is gaining traction in Europe as a way to meet net-zero carbon goals and reduce dependence on Russian-sourced natural gas after the invasion of Ukraine. The start-up of the fourth unit of the Barakah Plant marks a significant achievement in the UAE’s efforts to decarbonize its power sector and increase clean electricity production.

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