BAKU, Azerbaijan, November 22. A delegation from the European Investment Bank (EIB) visited Orano’s Georges Besse 2 uranium enrichment site in southern France on Thursday, observing progress on the plant’s 1.7 billion euros expansion, Trend reports via the bank.
The visit follows a 400 million euro financing agreement granted by the EIB in March to support the project, which aims to strengthen Western energy sovereignty and reduce the European Union’s reliance on imported Russian fuels and enriched uranium under the EU’s “RePowerEU” program.
The expansion involves constructing four new enrichment modules to supplement the 14 already in operation. The new modules are scheduled to come online progressively from 2028 and be fully operational by 2030, potentially supplying low-carbon energy to the equivalent of 120 million households annually.
About 180 companies, mostly French and many regional, are involved in the construction, which is progressing on schedule and within budget, with over 70% of the concrete already poured.
“Low-carbon energy sources are a key factor in enabling Europe to achieve climate neutrality and energy security,” said Ambroise Fayolle, EIB vice-president. “This is why the EIB is pleased to support Orano in increasing uranium enrichment capacity.”
Orano CEO Nicolas Maes described the project as “strategic,” noting it will eventually provide power to nearly 60% of EU households and enhance European energy independence.
Orano’s Director of Chemistry & Enrichment, François Lurin, added that the visit marked almost one year since the project’s first stone was laid, thanking teams, partners, clients, and shareholders for their commitment.