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Home / Financial Sector

EIB and Orano Sign €400 Million Loan Agreement to Expand Uranium Enrichment Facility

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EIB supports Orano’s €400M investment to expand the Georges Besse 2 uranium enrichment facility, enhancing Europe's energy security and low-carbon energy efforts. (Image Credits: X/ @Oranogroup)
Published on 11th March 2025
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European Investment Bank (EIB) and Orano have signed a €400 million loan agreement to fund part of the investment needed for the upscaling of the Georges Besse 2 uranium enrichment facility in Tricastin, located in France’s Drôme and Vaucluse regions. The investment is significant for Europe’s fossil fuel reduction strategy and accelerating the pace towards low-carbon energy.

Raising Europe’s Strategic Autonomy

The new Georges Besse 2 uranium enrichment facility expansion by EIB and Orano will raise the capacity of uranium enrichment by 30%, and 2.5 million Separative Work Units (SWU) will be added. It is in line with Orano’s determination to serve rising demand from its utility clients for secure and stable supply. The project aims to enhance Europe’s total enrichment capacities, adding another layer to the continent’s energy security. First production will start in 2028, with commissioning completed by 2030.

Implementing Proven Technology for Renewable Energy

The project will entail four new modules alongside the current fourteen, all built using the same proven and well-established technology. This will ensure competitiveness, energy efficiency, as well as environmental safety, with minimal environmental footprint. By supporting this project, the EIB’s loan will contribute to an overall investment of nearly €1.7 billion, using European technologies and relying primarily on French companies for construction and operations.

Also read: EIB Grants €200 Million Loan to Latvenergo for Electricity Network Modernization

EIB’s Support for Energy Transition

The funding supports the EU’s REPowerEU strategy, which promotes speeding up the energy transition and also increasing Europe’s energy self-sufficiency. In 2024, the EIB lent a record €31 billion to European energy security, backing over €100 billion of investment in renewable energy, energy efficiency, and storage schemes.

On 9 October 2024, the European Commission approved the project’s conformity with the Euratom Treaty, enhancing the energy security of Europe.

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Home / Oil and Gas

DOE Approves Extension to Delfin LNG Project

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Pipelines used to represent LNG project.
Delfin LNG receives an extension to begin LNG exports from its offshore Louisiana project, continuing US energy leadership in the global market.
Published on 11th March 2025
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US Secretary of Energy Chris Wright has granted Delfin LNG LLC an extension on its liquefied natural gas (LNG) export permit, providing the company with additional time to begin exports from its proposed offshore Louisiana project. Secretary Wright announced the extension during his opening speech at CERAWeek in Houston, a major energy conference.

Advancing US Energy Leadership

Secretary Wright emphasized the importance of embracing all affordable, reliable, and secure energy forms. He also noted the visible enthusiasm for US leadership in energy exports, as reflected by allies and trading partners at CERAWeek. Wright concluded by expressing his excitement about signing the order to help another US LNG project progress.

Since President Trump took office, the Department of Energy (DOE) has granted four LNG-related approvals, including Delfin LNG’s extension. Earlier this year, the DOE approved exports for Commonwealth LNG on February 14, removed barriers for using LNG as a bunkering fuel on February 28, and granted more time for the Golden Pass LNG terminal to commence exports on March 5.

Also read: DOE Approves $15 Billion Loan for PG&E’s Polaris Project

Support for Delfin LNG’s Progress

Tala Goudarzi, Principal Deputy Assistant Secretary of the Office of Fossil Energy and Carbon Management, said, “With this decision, I am pleased to see DOE help this project progress after the regulatory setbacks it faced during the Biden administration.”

Delfin LNG, a majority-owned venture by Fairwood Peninsula, Talisman Global Alternative Master, L.P., and Talisman Global Capital Master, L.P., is aiming to make a final investment decision later this year. The company plans to begin constructing its offshore floating liquefied natural gas vessel (FLNGV). The latest order extends the deadline for Delfin to begin exporting up to 1.8 billion cubic feet per day (Bcf/d) of natural gas as LNG to non-free trade agreement countries until June 1, 2029.

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