Does the UAE aim to control European nuclear energy too?
The United Arab Emirates is considering investing in Europe's nuclear power segment, approaching several European nations to gauge their receptiveness to a collaboration, sources familiar with the talks told Reuters this week.
With these investments, the Emirates aim to control the energy market even outside their borders, taking advantage of the energy hunger of European countries and the need for huge capital for the development of modern nuclear energy. Furthermore, this proposal demonstrates how the Emirates' scientific capacity is now serious and of a good level.
The United Arab Emirates has discussed the possibility of its state-owned Emirates Nuclear Energy Company (ENEC) investing in European energy assets, including British ones, to become a minority shareholder.
According to Reuters' sources, ENEC aspires to expand its area of operation, becoming an international nuclear energy company that holds minority stakes in other countries. His aspirations stop at the desire to manage or operate these holdings, limiting himself to minority ownership. The move would help the oil-rich nation diversify its economy away from fossil fuels.
For Britain, an investment could mean relief for its massive Sizewell C nuclear project, which has said it has raised $25 billion in investment so far as it seeks to complete it.
As part of its “international growth and investment plans, ENEC is working with a multitude of partners to explore opportunities for collaboration in both new civil nuclear projects and civil nuclear technologies and related clean energy technologies, such as clean hydrogen,” ENEC told Reuters.
While several European nations are looking to expand their nuclear footprint to help them reach their ambitious net zero goals, others are divided over whether nuclear power should be classified as green energy.
While Britain appears to need investors for Sizewell C , UAE investors have found themselves at odds, with the British government blocking a UAE investment to acquire The Telegraph and showing concern over an investment by a United Arab Emirates telecommunications company, saying it raised national security concerns. So nuclear investment could be an alternative to media investment.
Ultimately, the UAE is positioning itself as a key player on the global energy stage, not only as a supplier of fossil fuels, but also as a pioneer of renewable energy. Through strategic agreements and targeted investments, the country aims to control an ever-increasing part of the energy value chain, while ensuring a future of prosperity and economic stability. All this, in a constantly evolving geopolitical context, where energy security takes on an increasingly central role.
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The article Does the UAE also aim to control European nuclear energy? comes from Economic Scenarios .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/gli-emirati-arabi-uniti-mirano-a-controllare-anche-lenergia-nucleare-europea/ on Sat, 30 Mar 2024 06:15:01 +0000.