The European Investment Bank ( EIB ) has formalized a €400 million loan agreement with Orano , with the aim of financing the expansion of the Georges Besse 2 uranium enrichment plant , located in Tricastin, France.
The French uranium enrichment plant
The Tricastin plant will be expanded by 30%, allowing for an increase of 2.5 million SWU ( Separative Enrichment Unit ) per year. This increase in production capacity is essential to ensure the supply of enriched uranium needed for low-carbon energy production in Europe. The start of operation of the expansion is planned for 2028, with full completion of the plant scheduled for 2030.
The financing agreement is part of the EIB ‘s strategy to support energy infrastructure projects that strengthen Europe’s energy sovereignty. Furthermore, Orano , with its extensive experience in the sector, will utilize European technologies and primarily rely on the services of French companies to carry out the plant expansion.
The project has been welcomed by European authorities, who consider it an important step toward strengthening the security of energy supply in the region. Furthermore, the European Commission, through its REPowerEU program, has supported the initiative, recognizing its contribution to the EU’s decarbonization goals.
With this financing, the EIB is strengthening its commitment to the energy transition and the reduction of greenhouse gas emissions in the region. In 2024, the EIB allocated a record €31 billion to finance energy security projects, with a particular focus on renewable energy, energy efficiency and interconnection networks.
This significant EIB financing contributes to European energy independence. Decarbonized energy is essential for the European Union to meet the ambitious climate-neutrality goals it has set for itself.
Ambroise Fayolle, vice-president of the EIB.
The EIB’s financing for the expansion of the capacity of our Georges Besse 2 enrichment plant is perfectly aligned with this objective, as the project will increase the number of homes supplied with low-carbon energy to a total of 120 million.
Nicolas Maes, CEO of Orano.
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Source and photo: Orano
