Financing clean energy security

Financing clean energy security - Allied Nuclear

Collaboration and co-creation led by Allied Nuclear offer an antidote to Russia’s energy weaponization. The delivery of privately financed and built nuclear energy projects strengthens – rather than undermines – a partnering country’s sovereignty and energy security. Our customer-driven energy offerings are market-based solutions. They enable private businesses to create energy security partnerships between sovereign countries without undermining international norms for nonproliferation, nuclear safety or regulatory oversight.

As part of Europe’s Green Deal, nuclear energy has been excluded from the European Union’s drafted taxonomy for sustainable activities. However, several countries continue to lobby the European Commission to consider nuclear as a clean energy resource favored under the new taxing scheme. The Commission will reconsider its exclusion of nuclear – as well as natural gas – in the coming months.

Ditte Juul-Jørgensen, director-general for energy of the European Commission, told Axios that nuclear energy is a “very important part of the European energy mix” but said that it is up to each country whether they pursue nuclear technology.

As Berlin pushes back against favoring nuclear as a clean resource for sustainable investments, other EU countries are taking matters into their own hands. On July 20, the Czech government approved an interest-free loan to utility CEZ for a new nuclear energy project. “We are securing a stable source, affordable price of electricity,” Czech Industry Minister Karel Havlicek said on Twitter.

As part of the financing equation for new nuclear builds, the U.S. International Development Finance Corporation announced July 23 an end of its ban on financing nuclear power projects and “will prioritize the support of advanced nuclear technology in emerging and frontier markets.” The DFC is the infrastructure investment arm of the U.S. government and the lifting of its ban increases the attractiveness of American nuclear companies and suppliers pursuing foreign projects.

Allied Nuclear’s projects gain to benefit from the DFC move and, such projects, would shore up – rather than undermine – NATO regional security by strengthening the national sovereignty and energy security of the partnering host country. Through Allied Nuclear’s buyside advisory role, financing strategies and ‘best in class’ consortium model, Allied Nuclear ensures commercially driven nuclear projects are built cost efficiently and on time with public transparency and stringent oversight by the host country.

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