During the second Nuclear Energy Summit in Paris, EDF announced the creation of the Financing and Investing in Nuclear Advisory Board EDF (FINABe), dedicated to facilitating the financing of and investment in new nuclear projects globally. The board brings together leading experts including ABN AMRO Bank, BNP Paribas, Bpifrance Assurance Export, Crédit Agricole CIB, HSBC, La Caisse (Caisse de dépôt et placement du Québec), Royal Bank of Canada and SFIL. Vakis Ramany, Senior Vice President, International Nuclear Development at EDF, has been appointed Chair of FINABe.
EDF noted that, according to the International Energy Agency’s prospective scenarios, global installed nuclear capacity could increase by 50-100% over the next 20-30 years, from around 400 GWe today to 600-1,000 GWe. This will require massive public- and private-sector investment. EDF said it is well placed to help clients structure the bankable models needed to secure robust financing solutions for new nuclear projects “drawing on its unique experience in delivering large and complex industrial projects, and as it advances the French and UK nuclear programmes while contributing to numerous projects worldwide – including through its subsidiaries Framatome and Arabelle Solutions”.
FINABe aims at identifying market expectations, promoting best practice sharing and contributing to the gradual development of robust financial mechanisms supporting investments in new nuclear projects, both for large-scale and small modular reactors (SMRs).
Claude Laruelle, CFO at EDF noted: “For many countries considering new nuclear programmes, securing credible financing solutions is now as critical as selecting the right technology. Through FINABe, we seek to capitalise on our unique expertise and work hand-in-hand with leading financial institutions to craft robust financing frameworks and support the development of new nuclear capacities.”
Arthur van Dijk, head of New Energies & Infrastructure at Netherlands-based ABN AMRO, said the bank will participate in FINABe in an advisory capacity. “We recognise the growing need for affordable and secure energy in a resilient Europe and the importance of diversified financing to support largescale energy and infrastructure projects,” he said. “Nuclear energy can, when deployed responsibly and within national frameworks, play a role within a broader energy mix.”
