UAE Explores Investing in Nuclear Power in Europe

 

The United Arab Emirates is looking into investing in nuclear power projects across Europe. The Emirates Nuclear Energy Corporation (ENEC), which is owned by Abu Dhabi's ADQ holding company, has expressed interest in taking minority stakes in upcoming nuclear plants. ENEC officials have discussed potential opportunities with leaders in Britain specifically. 

This news comes shortly after the fourth reactor at ENEC's Barakah nuclear power plant in the UAE came online. Once fully operational, Barakah will be one of the largest nuclear sites in the world, producing 5,600 MW of carbon-free electricity. As the primary owners and operators of Barakah, ENEC has gained significant experience in developing and operating nuclear facilities. Now, they want to leverage this expertise by participating in other nations' nuclear plans.

One project ENEC is looking at is Sizewell C in England. British officials removed China from involvement in the plant due to political tensions and have sought new investors to work with EDF, the lead developer. Investing in Sizewell C would allow ENEC to expand its international portfolio while supporting the UK's nuclear energy ambitions. Nuclear power will be crucial for many European countries to meet climate targets and gain energy security following Russia's war in Ukraine. Partnerships with experienced operators like ENEC could help accelerate these important low-carbon goals.