France's EDF plans 10 small nuclear plants in Europe by 2035

EDF Plans 10 Small Modular Nuclear Reactors in Europe by 2035

EDF's Ambitious SMR Expansion in the European Union

By Francesca Landini

MILAN, Sept 18 (Reuters) - France's EDF plans to build 10 small modular nuclear reactors (SMRs) in the European Union by 2035 under a project aiming to help the bloc reduce its dependency on fossil fuel imports, an EDF executive said on Friday.

The state-owned French power group plans to use a technology developed by its NUWARD subsidiary for the SMRs, EDF Senior Vice President Vakisasai Ramany said at an event hosted by its Edison unit and attended by Italian companies that will be part of the supply chain.

Planned Locations and Partnerships

The first SMR is due to be built in France with another expected to be located in Italy with assistance from Edison and potential support from energy contractor Saipem and construction group Webuild among others.

Ramany added that EDF was also in discussions with governments over the possibility of building some of the small nuclear plants in Poland, Belgium and Finland. 

Industry Context and Competitive Landscape

Catching Up on Small Modular Reactors

EDF, Europe's largest nuclear power developer, is rushing to catch up with the United States and others that already have plans in place to start manufacturing by the end of the decade.

The French group was originally planning a more ambitious reactor project. But design issues and fears of delays and cost overruns prompted a rethink and switch to a simpler, more proven technology. 

"It is not the best technology that hits the market, it is the technology that addresses as best as possible a number of expectations," Ramany said.

Technical and Financial Details

NUWARD SMR to Produce Power and Heat

NUWARD's small reactor is expected to produce 400 megawatts of power and have the flexibility to deliver heat too, making it suited to providing stable baseload power for industry.

Investment and Cost Projections

Ramany said the entire project would require "tens of billions" of euros in investments and added that construction of 10 reactors would help to spread the costs and be more efficient.

"The targeted cost for electricity (from NUWARD SMRs) is about €100 ($115) per megawatt hour ... We are talking about dispatchable energy, which should not be compared with the cost of renewable energy, but rather with gas generation," said Edison CEO Nicola Monti.

Regulatory Developments in Italy

Italy's government is expected to give its final approval next week to a law on nuclear power generation, opening the way to nuclear power stations in a country that banned them almost 40 years ago following a referendum.

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(Reporting by Francesca LandiniAdditional reporting by Forrest Crellin in ParisEditing by Giulia Segreti, David Goodman and Joe Bavier)