EDF, Europe’s largest electricity company, is negotiating with Engie and the Belgian government about a potential takeover of the Doel 4 and Tihange 3 nuclear reactors, aimed at keeping both plants operational longer, specifically until 2045.
This is according to La Lettre, a French online newspaper that mainly reports on politics, business, and the media in France. According to the news site, EDF, which the French government wholly owns, is considering the possibility of taking over both reactors from 2035.
The French state is not enthusiastic
Energy Minister Mathieu Bihet (MR) has stated that no comment will be made on ongoing negotiations. Engie is also refraining from comment. The unions are not surprised. “We are aware of this,” says ACV Construction – Industry & Energy. EDF is said to have emerged as the most realistic alternative for the continued operation of Doel 4 and Tihange 3, as Engie is not inclined to keep them open beyond 2025.
However, the takeover is far from a done deal. The French state is said to be opposed to a takeover, given the scale of the necessary investments and because the costs of the future decommissioning of the reactors remain a major unknown; the costs are estimated to be between €800 million and €1 billion per power plant.
In addition, EDF already has several financially burdensome projects on the table, including several nuclear projects in the United Kingdom and in its own country.
50% owner of Tihange 1
EDF, the operator of France’s nuclear reactors and a major player in the nuclear energy sector, is already active in Belgium. The French are the principal shareholders in the energy company Luminus and, through its subsidiary EDF Belgium, own 50% of Tihange 1, a 50-year-old power plant that will be taken offline at the end of September. However, the Belgian government also hopes to keep Tihange 1 open for longer.
Many countries are showing renewed interest in nuclear energy as demand for electricity increases and they seek to reduce their dependence on fossil fuels. However, the construction of new nuclear power plants is progressing much more slowly than expected, and costs are rising sharply.
The Federal Planning Bureau recently calculated that, if Belgium considers only the financial aspect, investing in nuclear energy and offshore wind turbines is the most cost-effective option for generating enough electricity to achieve climate neutrality by 2050.
In concrete terms, “making full use” of nuclear energy and offshore wind means installing 8 gigawatts of nuclear energy and 8 gigawatts of offshore wind by 2050.
