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EU Bank Funds Finnish Nuclear Revival
15 Sep
Summary
- European Investment Bank invests €40 million in Finnish SMR startup.
- The investment signals a break from a four-decade nuclear hiatus.
- Steady Energy Oy is developing a 50-megawatt light-water reactor.
The European Investment Bank (EIB) has announced a €40 million ($46 million) investment in Steady Energy Oy, a Finnish company specializing in small modular reactors (SMRs). This financial backing represents a notable shift, ending a four-decade period where the EIB had not invested in nuclear energy projects.
Europe is intensifying its pursuit of innovative clean energy solutions, and this investment underscores that commitment. Steady Energy Oy is at the forefront of this movement, actively developing a 50-megawatt light-water reactor. This initiative is part of a broader continental effort to diversify and bolster clean energy portfolios.
The decision by the EIB to re-engage with nuclear power development signals a potential broader trend in clean energy financing across the continent. As countries aim to meet ambitious climate goals, technologies like SMRs are gaining increasing attention.
