American investors push for nuclear comeback in Germany

The United States is actively exploring opportunities to revive nuclear power generation in Germany, signaling a potential shift in the European nation’s energy strategy.

American companies are conducting in-depth assessments of the costs and feasibility associated with recommissioning Germany’s dormant nuclear power plants, Caliber.Az reports via German media.

Sources indicate that reactivating as many as nine nuclear facilities in Germany is deemed technically and economically viable by US stakeholders. This development comes amid ongoing debates over energy security and sustainability across Europe.

A recent gathering of politicians, industry representatives, and lobbyists took place on May 22 at the Hotel de Rome in central Berlin, where the prospects of reintegrating nuclear energy into Germany’s power mix were discussed extensively.

Leading this initiative is a consortium of American investors aiming to spearhead a strategic ‘turnaround’ in Germany’s energy policy, which has traditionally favored a transition away from nuclear power in recent years.

Germany, which for years staunchly opposed the European Union’s efforts to classify nuclear power on equal footing with renewable energy sources as part of the green transition, has recently abandoned this stance under the leadership of Chancellor Friedrich Merz. This pivot is poised to facilitate smoother adoption of EU energy policies.

Under former Chancellor Olaf Scholz, Germany, alongside Austria, led the resistance against recognizing nuclear energy as a “green” power source, opposing its equivalence with solar and wind within the EU’s framework to achieve net-zero emissions by 2050.

However, according to French and German officials, Germany under Merz is now signaling a notable shift, softening its previous anti-nuclear position in EU energy policy discussions.

 In April 2023, Germany formally concluded its nuclear power era by shutting down its last three reactors, a decision rooted in Chancellor Angela Merkel’s post-Fukushima commitment to phase out nuclear energy after more than six decades of commercial use. This move occurred despite mounting concerns over energy security following Russia’s invasion of Ukraine and the cessation of Russian pipeline gas supplies, which had previously accounted for the majority of Germany’s natural gas imports.

Since the 2022 energy crisis, Germany and France have clashed over the role of nuclear energy in Europe’s green transition. Yet, the recent rapprochement between the two economic powerhouses on nuclear’s role in the EU’s net-zero agenda holds the promise of breaking the impasse that has long stalled progress on EU energy legislation and policy reform, analysts and officials affirm.

By Vafa Guliyeva