URENCO secures EIB debt facility
URENCO is the first nuclear organisation to sign a loan agreement for funding from the European Investment Bank (EIB) since the recent publication of the document, ‘Clean Energy for Europe: a reinforced EIB contribution’.
The €200 million debt facility forms part of the company’s medium-term investment programme. It will fund the continued capacity expansion at the company’s British and Dutch sites, needed to meet the current commitments of its strong order book which now extends beyond 2025.
URENCO underwent a due diligence process and stringent environmental assessments which were required by EIB to ensure that URENCO’s operations met the strict criteria set for such loans.
The EIB’s loan to the URENCO expansion project is in line with the EU energy policy, seeking diversification of secure energy sources. As outlined in its recent briefing, the Bank funds only those projects which have received a favourable opinion from the European Commission and the Member State concerned. As with all investments undertaken, nuclear projects must be technically, economically, financially and environmentally viable and comply with EU and national law.
URENCO is an independent, global energy and technology group with operations in Germany, the Netherlands, United Kingdom and a fourth enrichment plant currently under construction in New Mexico, United States. Focus is on providing safe, cost effective and reliable uranium enrichment services for civil power generation within a framework of high environmental, social and corporate responsibility standards. Our goal is to further increase worldwide market share while maintaining high profitability and to become the leading supplier in the extended global enrichment market.