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UAE eyes investments in European nuclear energy

ENEC has set its sights on investment opportunities in the UK

UAE eyes investments in European nuclear energy
[Source photo: Krishna Prasad/Fast Company Middle East]

The UAE is reaching beyond its borders in the nuclear energy sector, marking a new chapter in the UAE’s journey towards a diversified economy and positioning itself as a potential powerhouse in the global nuclear industry.

The UAE has initiated discussions with European nations, including the UK, to assess their interest in potential investments in the UAE’s burgeoning nuclear power sector.

According to Reuters, the state-owned Emirates Nuclear Energy Company (ENEC) is looking to become a minority stakeholder in European nuclear assets, aiming to diversify its portfolio beyond the UAE’s sole nuclear power plant.

Owned by Abu Dhabi’s ADQ, ENEC has set its sights on investment opportunities in the UK, with discussions reportedly underway regarding the Sizewell C nuclear project. This collaboration aligns with both nations’ goals: the UAE seeks to reduce reliance on fossil fuels, while the UK aims to secure additional funding for its clean energy ambitions.

Among the proposals under consideration, sources disclosed to Reuters that ENEC could emerge as a key partner in developing new nuclear energy infrastructure across European nations, leveraging its expertise gained from overseeing the construction of the UAE’s first nuclear power plant, operational since 2021.

The Innovation By Design Summit is in Doha on April 24. Attendance at the summit is by invitation only. Delegates can register here to receive their exclusive invite.


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