The Belgian State, Power group Engie and Electrabel (an Engie subsidiary) have signed a Letter of Intent (LOI) setting out the framework for exclusive negotiations for the potential acquisition by the Belgian State of all of Engie’s and Electrabel’s nuclear activities. The LOI does not constitute a binding commitment to conclude the transaction, the completion of which remains subject to, “among other things, the negotiation and execution of definitive agreements and the required third-party and regulatory approvals”, Engie said. The final transaction will still require regulatory approval, including from the Federal Agency for Nuclear Control (FANC).
The transaction will comprise the full scope of the nuclear activities currently owned and operated by Engie and Electrabel and their affiliates, including the nuclear fleet of seven reactors, associated personnel, all nuclear subsidiaries, as well as all associated assets and liabilities, including decommissioning and dismantling obligations.
This reflects the Belgian Government’s strategic decision to assume direct ownership of nuclear assets, in support of plans to extend the operation of existing reactors and to develop new nuclear capacity. “By doing so, the Belgian Government is taking responsibility for Belgium’s long-term energy future, with the objective of building a financially and economically viable activity that supports security of supply, climate objectives, industrial resilience and socio-economic prosperity,” Engie said in a press release.
According to the LOI, the Belgian State will conduct a comprehensive due diligence review of the nuclear activities after which negotiations will take place with the objective of concluding heads of terms by 1 October. The contemplated transaction “should not unduly affect, neither adversely nor positively, the overall financial position of Engie and Electrabel,” Engie noted.
Interim arrangements have been agreed to preserve the value and integrity of the nuclear activities, including the suspension of ongoing decommissioning and dismantling works, to ensure that all options remain available to the Belgian State.
Engie reaffirmed its commitment to support employees concerned throughout the process, through continued dialogue with employee representatives and the provision of appropriate support as the discussions progress.
Belgium has seven nuclear power reactors – three at Tihange near Liege and four at Doel near Antwerp. All seven are pressurised water reactors operated by Electrabel, part of Engie. Apart from Doel 1&2, which are 430 MWe plants, the others have a capacity of approximately 1000 MWe.
The potential nationalisation of Belgium’s entire nuclear fleet is a strategic pivot marking a significant reversal of Belgium’s decades-long nuclear phase-out policy in favour of long-term energy security.
In May 2025, Belgium’s Chamber of Representatives voted to repeal a 2003 law setting out plans to phase out nuclear power. The 2003 law set a date for the closure of Belgium’s seven nuclear plants and prohibited the construction of new nuclear capacity. Over the past two decades, the law has been amended several times to allow a number of plants to remain open longer.
Under the phase-out law, Doel 1 was to be taken out of service in 2015. However, the law was amended in 2013 and 2015 allowing it to operate for an additional 10 years. Doel 3 was closed in 2022 and Tihange 2 in 2023. Tihange 1 closed in September 2025 and Doel 2 the following December. Doel 4 and Tihange 3 were scheduled to close in November 2025 but the conflict in Ukraine and subsequent sanctions on Russian oil and gas resulted both being allowed to operate for 10 more years.
The Belgian government, led by Prime Minister Bart De Wever, stated that direct ownership is necessary to ensure secure, affordable and sustainable energy. “This government is opting for secure, affordable and sustainable energy,” he wrote on X. “With less dependence on fossil fuel imports and more control over our own supply.”
By taking control, the state aims to: secure the continued operation of existing reactors beyond previous agreements; facilitate the potential development of new nuclear capacity and small modular reactors; and reduce dependence on imported fossil fuels and exposure to volatile global energy prices.
For Engie, its exit aligns with its global strategy to reduce exposure to nuclear risk and capital-intensive legacy assets while shifting focus toward renewable energy. The talks followed growing tensions between Engie and the government over the estimated cost of decommissioning Belgium’s nuclear fleet. Engie reportedly disputed projections that the process could cost nearly €3bn ($3.5bn) more than the €8.7bn already set aside for the work. The state will compensate Engie for costs already incurred through decommissioning activities during the negotiation period.
Some reactors had already begun the decommissioning process. According to reports in De Standaard, key control equipment at Tihange 1 was due to be removed in the coming weeks. However, the reactor is reportedly viewed within government circles as one of the strongest candidates for a possible restart. The takeover would also give the state control over the Doel 5 site, one of the few locations in Belgium considered suitable for the future construction of new reactors.
