How will the inclusion of nuclear generation in the green taxonomy affect Europe?

The electronic publication Strana Rosatom published a column by Sergey Kondratiev, Deputy Head of the Economic Department of the Institute for Energy and Finance, about the prospects for nuclear generation in the EU.

The special green terms

Not everyone will get green status, but only some new projects. To take advantage of the green taxonomy, investors in new gas-fired thermal power plants must obtain building permits by the end of 2030, ensure low greenhouse gas emissions from electricity generation (no more than 270 g CO2/kWh) and install equipment for burning a low-carbon gas mixture - methane with by adding hydrogen.

New nuclear power plants can only be qualified for green status if a building permit is obtained before 2045 and the owners provide "detailed plans for a radioactive waste disposal facility."

Four months to discuss

In the next four months, all 27 the EU countries will discuss the green taxonomy project, and this discussion is unlikely to be easy. The Austrian authorities have already stated that “neither natural gas nor nuclear energy can be classified as green energy”, and that they are ready to sue the European Commission if it does not withdraw its proposals. Germany adheres to a similar position: immediately after the publication of the draft taxonomy, the Minister of the Environment, Steffi Lemke, called the priorities chosen by the European Commission “incorrect”.

To block the project, 20 countries must oppose, the population of which in total is at least 65% of the total population of the EU. However, many immediately spoke in favor. The inclusion of nuclear power plants in the list of green types of generation was welcomed by France, Finland and most countries of Eastern Europe. If the project passes, a real renaissance will shine for the nuclear power industry. According to Thierry Breton, European Commissioner for the Internal Market, investments in the construction of nuclear power plants in the European Union in the next 30 years may exceed 500 billion euros.

Inclusion in green generation will be only the starting point for major changes for the nuclear industry.