Regulatory News:
Today, Orano management welcomed a delegation from the European Investment Bank (EIB) to the Tricastin site (Drôme/Vaucluse, southern France). The delegation was able to observe the significant progress made on the extension of the Georges Besse 2 enrichment plant. This visit follows the €400 million financing granted by the EIB on March 10, 2025, to support a major industrial project estimated at more than €1.7 billion.
Initiated by Orano in October 2023, the Georges Besse 2 expansion project aims to strengthen Western energy sovereignty and is fully aligned with the European "RePowerEU" program. The project will contribute to reducing the European Union's reliance on imported Russian fuels and enriched uranium.
Central to the project is the construction of four new uranium enrichment modules, which will supplement the 14 already in service. The modules will be brought online progressively from 2028, and will be fully commissioned by 2030. With this expanded capacity, the uranium produced will allow low-carbon energy to be supplied to the equivalent of 120 million households each year.
Furthering the collaboration that began in March with the award of the loan, the EIB delegation was able to observe the great steps forward made on the construction site and follow the progress of this strategic project for Europe, one year on from the laying of the first stone.
The construction project brings together around 180 companies, mostly French, with a significant proportion of regional firms. Work is progressing on schedule and within budget: to date, over 70% of the concrete has been poured.
Ambroise Fayolle, vice-président de la European Investment Bank:"Low-carbon energy sources are a key factor in enabling Europe to achieve climate neutrality. They are also a means of ensuring our sovereignty and energy security, in an uncertain geopolitical context, by becoming more autonomous in terms of resources. This is why the EIB, the European Union's bank, is pleased to support Orano in its projects to increase uranium enrichment capacity."
Nicolas Maes, Chief Executive Officer of Orano, commented: "The extension of the Georges Besse 2 enrichment plant is a strategic project, which in time will allow power to be supplied to nearly 60% of EU households. This increase in production capacity represents a decisive element supporting European and Western energy sovereignty, significantly enhancing the security of supply of low-carbon energy."
François Lurin, Orano's director of Chemistry Enrichment, added: "It is almost one year now since we laid the first brick in this monumental project. Today, we meet again to take stock of the progress made so far. I would like to take the opportunity to thank our teams and our partners, whose commitment is vital to the success of this project. I would also like to thank our clients and shareholders for their faith and confidence. Thanks to them, we are moving forward towards greater energy independence for the West."
About Orano
As a recognized international operator in the field of nuclear materials, Orano delivers solutions to address present and future global energy and health challenges. Its expertise and mastery of cutting-edge technologies enable Orano to offer its customers high value-added products and services throughout the entire fuel cycle. Every day, the Orano group's 18,000 employees draw on their skills, unwavering dedication to safety and constant quest for innovation, with the commitment to develop know-how in the transformation and control of nuclear materials, for the climate and for a healthy and resource-efficient world, now and tomorrow
Orano, giving nuclear energy its full value.
About EIB
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, it finances investments that pursue EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.
View source version on businesswire.com: https://www.businesswire.com/news/home/20251120356948/en/
Contacts:
Orano
+33 (0)1 34 96 12 15
press@orano.group
EIB
Andrea Morawski
Tel: +352 691 284349
Email: a.morawski@eib.org
