Paris, March 10 (QNA) - European Commission (EC) President Ursula von der Leyen confirmed Tuesday that Europe's abandonment of civil nuclear energy was a strategic mistake, underscoring that Brussels will allocate EUR 200 million to bolster innovation in nuclear energy technology.

Speaking at the opening of a nuclear energy summit in Paris, von der Leyen stated that it was a strategic error for Europe to relinquish a reliable, cost‑effective, low-emission energy source.

She explained that the EUR 200 million support is designed to coalesce investment in advanced nuclear technologies, especially Small Modular Reactors (SMRs), as part of the EU's strategy to operationalize this technology by the early 2030s.

Leyen pointed out that soaring energy prices due to the Middle East conflict are a stark reminder of Europe's fragility and dependence on fossil fuel imports, highlighting the urgent need to diversify energy sources.

She also noted that the allocated funds will come from the EU Emissions Trading System, reinforcing a controlled approach to energy transition.

In addition, Leyen stressed that the EU, which leaned on nuclear power for roughly one-third of its electricity in 1990, now sees the reduction to around 15% as a decision incompatible with today's energy security landscape.

The Paris nuclear summit convenes amid major tectonic shift in terms of energy and geopolitical challenges in Europe, with high energy prices and Middle East tensions impacting global fuel markets, prompting the EU to reassess the role of nuclear energy as a critical component of energy security and a measure to reduce dependency on fossil fuels. (QNA)