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Fission for funds: The financing of nuclear power plants

Author

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  • Weibezahn, Jens
  • Steigerwald, Björn

Abstract

The increasing decarbonisation pressure together with recent energy price shocks is fuelling a revived debate on new nuclear generation capacity in many European states. In this paper, we provide a synopsis of financing models currently being applied or under development for newly built nuclear power plants in Europe (with excursions to Türkiye and the United States), catering to the special risk profile of such projects. We find that nuclear power plant projects in Europe to a large extent only become bankable if a government is involved in de-risking the investment for private investors – eventually involving the exposure of taxpayers or ratepayers to the project risks.

Suggested Citation

  • Weibezahn, Jens & Steigerwald, Björn, 2024. "Fission for funds: The financing of nuclear power plants," Energy Policy, Elsevier, vol. 195(C).
    • Handle: RePEc:eee:enepol:v:195:y:2024:i:c:s0301421524004026
    DOI: 10.1016/j.enpol.2024.114382
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    More about this item

    Keywords

    Nuclear power; Financing models; Risk analysis; Europe; Case study;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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