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French utility EDF signed an agreement with Italian subsidiary Edison, equipment firms Ansaldo Energia and Ansaldo Nucleare, and steelmakers industry body Federacciai to consider joint investment opportunities in nuclear energy, it said.
The memorandum of understanding would promote the construction of small modular reactors (SMRs) and the transmission of nuclear energy in the mid to long term from French reactors to Italy over the coming decade, it added.
WHY IT'S IMPORTANT
Several European countries are looking into building nuclear reactors in order to meet 2050 climate goals.
SMRs, or small reactors that can be hosted at specific sites, are being developed to offer less costly and more targeted options for heavy emitters such as steel plants.
EDF recently said it was switching to using existing technologies for the design of its SMRs rather than continuing to develop its own to lower costs and meet deadlines.
BY THE NUMBERS
The steel industry was responsible for around 5 per cent of carbon emissions in the European Union in 2022, data from the European Commission showed.
Italy imports about 15-20 per cent of its energy from neighbours, and the development of a national supply chain for the production of new nuclear energy will provide the country with greater independence, the statement on Tuesday cited Edison as saying.
KEY QUOTES
"We will work to ensure that this first important agreement can set an example for all hard-to-abate industrial sectors: this is the only viable way to meet the most ambitious decarbonisation targets," said Antonio Gozzi, president of Federacciai.-Reuters