Endesa's owner relaunches its commitment to new nuclear power plants in Europe

The Italian energy group Enel, majority owner of the Spanish electricity company Endesa with 70% of the capital, confirms its commitment to nuclear power continuing to play a key role in the European energy system of the future and to opening more reactors with new-generation technologies.

The Enel Group has sealed an alliance with the nuclear technology company Newcleo to develop fourth-generation nuclear technology projects, based on reactors that are smaller than the current ones, generate less waste and make it possible to reuse radioactive waste as fuel for the facilities.

Enel, which through Endesa has stakes in six of Spain's seven nuclear power plants, will collaborate with Newcleo on projects related to advanced nuclear technology, providing some of the company's qualified personnel. The alliance includes Newcleo's commitment to secure Enel an option as the first investor in the first nuclear power plant to be built in Europe using its technology.

The new alliance of Endesa's owner comes at a time when the Spanish nuclear industry and some political parties (particularly PP, Vox and Ciudadanos) are trying to reopen the debate on the closure of Spanish nuclear power plants, with a progressive closure schedule between 2027 and 2035 agreed between the Government and the major electricity companies.

Enel and Endesa itself have been suggesting in recent months that the government should rethink the closure of Spanish plants and negotiate it with the companies that operate the plants (in addition to Endesa itself, also Iberdrola, Naturgy and EDP).

Both companies see it as unlikely that some of the new renewables targets set out in the National Integrated Energy and Climate Plan (PNIEC), Spain's decarbonization roadmap until 2030, will be met, and that is why it would be necessary to keep the reactors in operation for longer than currently planned.

Enel has extensive experience in nuclear technology and currently has more than 3,300 megawatts (MW) of nuclear capacity in Spain, in addition to owning a stake of around 33% in Slovakian company Slovenské Elektrárne, which recently connected to the grid the first of two turbogenerators at unit 3 of the Mochovce nuclear power plant, the second new-build nuclear power plant to be connected to the European grid in 15 years.

"Innovation is crucial for the development of technologies that can guarantee clean, reliable, affordable energy that is as independent as possible from geopolitical factors. For this reason, we continue to explore any area of the energy spectrum," said Francesco Starace, CEO of Enel. "This collaboration with Newcleo is the latest example of our tireless search for the best companies to join us on our journey towards a clean future, and we look forward to supporting Newcleo on its challenging but promising roadmap to deliver zero-emission electricity in a safe, affordable and sustainable way."

London-based Newcleo's plans involve supplying innovative reactors that significantly reduce volumes of radioactive waste and plutonium. The company intends to first launch the design and construction of a first-of-its-kind 30 MW fast lead mini-reactor, to be built in France in 2030, followed by the manufacture of a 200 MW commercial unit in the UK. At the same time, newcleo will invest directly in a MOX fuel plant (mixed uranium and plutonium oxide, fabricated from existing nuclear waste) to power its reactors.