The European Investment Bank (EIB) and Orano have signed a 400 million euro loan agreement to support the expansion of the Georges Besse 2 uranium enrichment plant in Tricastin, France, Trend reports.

The project aims to enhance Europe’s energy security and reduce reliance on fossil fuel imports.

The expansion will increase the plant’s uranium enrichment capacity by 30%, adding 2.5 million SWU. The additional four modules will complement the existing fourteen, utilizing proven technology to ensure safety, efficiency, and a reduced environmental footprint. The project is expected to begin operations in 2028 and reach full capacity by 2030.

The European Commission approved the project under the Euratom Treaty, recognizing its role in securing Europe's energy supply. The EIB loan is part of the EU’s REPowerEU initiative, which supports energy transition and strategic autonomy. In 2024, the EIB provided 31 billion euros in energy security financing, mobilizing over 100 billion euros in investments.

EIB Vice-President Ambroise Fayolle emphasized that the financing contributes to Europe’s energy independence and climate goals. Orano CEO Nicolas Maes highlighted the project’s role in expanding access to low-carbon energy for up to 120 million households and strengthening the EU’s supply security.