Financial world rejects nuclear

Macron Grossi NES

Despite all the fanfare and hot air at the heavily promoted March 21 Nuclear Energy Summit in Brussels, representatives from the 30 countries in attendance, along with their host, the International Atomic Energy Agency, got an abrupt wake-up call from a panel of financial representatives who told them nuclear was their “last” choice and the project risks were all too high. Instead, the financiers recommended a turn to renewables.

The Bloomberg article headlines said it all:

Filling Nuclear Power’s $5 Trillion Hole Is Beyond the Banks

European lenders say their focus will remain on wind, solar

Taxpayers are needed to foot the bill to achieve 2050 targets

The article went on to say that conference attendees “left humbled by the tepid reaction of bankers assessing the price tag of their ambitions.”  During the meeting, they were told bluntly by the banks that their lending priorities lean toward renewables and transmission grids and that “nuclear comes last”.

Headline photo of French president, Emanuel Macron, and IAEA director general, Rafael Grossi, at the Nuclear Energy Summit, by Dean Calma / IAEA.


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