EDF told its board Thursday the provisional cost to build six EPR2 nuclear reactors in France is €72.8 billion, as the state utility seeks government-backed financing and targets 2038 to start the first unit.
EDF said the estimate covers six reactors planned for the Penly, Gravelines and Bugey sites and will undergo a government audit in early 2026 as France accelerates a major nuclear expansion.
The French state-owned power company said its board approved a €2.7 billion budget allocation for 2026 to advance the program, including engineering and preparatory work. The provisional budget will be audited in the first quarter of 2026 by the Interministerial Delegation for New six EPR2 nuclear reactors Energy, which oversees France’s nuclear new-build plans.
“The board was informed of the provisional cost estimate and the next review milestones,” EDF said in a statement to directors on Thursday. The company emphasized the figure remains subject to regulatory approvals and financing decisions.
Board Approves Budget as Audit and State Aid Reviews Loom
EDF said the EPR2 program will rely on state aid measures that were submitted to the European Commission on Nov. 19 for approval. The company aims to reach a final investment decision by the end of 2026.
The proposed support includes a subsidized loan covering at least half of construction costs, a forty-year contract for difference and a risk-sharing arrangement between the French state and EDF. Under a contract for difference, the government guarantees a fixed “strike price” for electricity generated once the plants are operating.
EDF has already filed an application to build the first two EPR2 reactors at Penly, on France’s northern coast in Normandy. A second pair is planned for Gravelines, about 170 kilometers northeast of Penly, while a third pair is planned for Bugey in southeastern France.
First Penly Reactor Targeted for 2038 Commissioning
The company said the first reactor at Penly is targeted for commissioning in 2038, with subsequent units to follow at intervals of twelve to eighteen months.
EDF said it plans to submit an environmental permit application for the Bugey project and begin preparatory work as early as 2027. Bugey would be the third site developed under the current expansion plan.
The schedule reflects lessons learned from earlier projects, EDF said, as it seeks to standardize designs and reduce risks that have plagued past builds. France currently has only one reactor under construction, the Flamanville-3 EPR.
Flamanville-3 was connected to the grid in December 2024 but has yet to enter full commercial operation after years of delays and cost overruns, a history that continues to shadow France’s six EPR2 nuclear reactors ambitions.
Macron Pushes Nuclear Expansion Amid EU Energy Debate
President Emmanuel Macron announced the EPR2 plans in 2022, calling them part of a “rebirth” of France’s nuclear industry. He has said France could ultimately build up to fourteen EPR2 reactors and extend the operating lives of existing plants beyond forty years.
Macron’s government has urged EDF to accelerate planning for the first six reactors, citing energy security and decarbonization goals. six EPR2 nuclear reactors power supplied about sixty-two percent of France’s electricity generation last year, the highest share globally, from a fleet of fifty-six reactors.
At the European level, France is leading a group of eleven pro-nuclear governments pressing the European Commission to include six EPR2 nuclear reactors power in the bloc’s energy policies. The governments argue the technology is essential to meeting climate targets and ensuring stable power supplies.
EDF said further decisions on additional reactors beyond the initial six will depend on regulatory approvals, financing terms and construction progress.
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