The World Nuclear Energy Summit in Paris through the eyes of Milko Kovachev
The World Nuclear Energy Summit, held on March 10 in Paris under the patronage of the International Atomic Energy Agency (IAEA), brought together 10 heads of state, over 30 ministers, and key industry representatives. Bulgaria was represented by Prime Minister Andrey Gyurov and Minister of Energy Traicho Traikov.
Milko Kovachev also took part in the summit as a representative of Bulatom. He participated in the announcement of the nuclear industry declaration, which was also signed by Bulatom.
Milko Kovachev outlined the following key highlights from the forum, which clearly reflect the changing global energy landscape:
Energy sovereignty and decarbonization – leading themes of the summit
French President Emmanuel Macron opened the forum with a firm message: nuclear energy is a strategic tool for achieving energy sovereignty and decarbonization. He emphasized that nuclear technologies allow countries to reduce their dependence on hydrocarbons, which are often used as instruments of geopolitical pressure—especially against the backdrop of instability in the Middle East.
The European Union changes course: nuclear energy is once again a priority
European Commission President Ursula von der Leyen described Europe’s previous withdrawal from nuclear energy as a “strategic mistake.”
She announced a new European guarantee of €200 million to support innovative nuclear technologies, including small modular reactors (SMRs), with the goal of enabling the first deployments in the early 2030s.
In parallel, the European Commission also published the official EU strategy for small modular reactors—a document that further solidifies the shift in European energy policy.
Global momentum: four more countries join the declaration to triple nuclear capacity
Belgium, Brazil, China, and Italy joined the international initiative to triple global nuclear capacity by 2050. This brings the total number of signatory countries to 38. The commitment underscores the growing recognition that nuclear energy is a key factor for energy security, economic growth, and achieving climate goals.
Financing and international cooperation – new support mechanisms
One of the central topics of the summit was access to financing for nuclear projects.
The IAEA and the World Bank signed a historic agreement to facilitate the financing of nuclear initiatives—an important signal of changing attitudes among international financial institutions toward the sector.
Representatives of leading institutions took part in the panels, including:
• World Bank
• European Investment Bank
• European Bank for Reconstruction and Development
• BNP Paribas
• HSBC
• Apollo
In addition, France’s EDF announced the creation of an international advisory body, FINABe, which includes leading banks and insurers and will support the financing of new nuclear projects.
Protests and criticism: nuclear energy remains a controversial topic
The summit was temporarily interrupted by Greenpeace activists protesting Europe’s dependence on Russian enriched uranium—around 40% of European supplies come from Russia.
The activists unfurled a banner reading “Nuclear energy fuels Russia’s war,” highlighting the ongoing ties with Rosatom despite the conflict in Ukraine.
Innovation and technology: the future of nuclear energy
Discussions focused on:
• small modular reactors (SMRs)
• advanced reactors (AMR, Gen-IV)
• digitalization and automation
• the use of artificial intelligence
• hybrid energy systems combining nuclear power with renewables and hydrogen production
These technologies are emerging as key components of next-generation energy systems.
G7 and the stability of the oil market
Parallel to the forum, G7 energy ministers met to discuss the release of strategic oil reserves in response to market instability caused by the conflict in the Middle East. The IEA proposed its largest-ever release of oil reserves—400 million barrels—to stabilize prices. The decision was made on March 11, 2026, with an implementation date of March 16, 2026.
Conclusion
Milko Kovachev emphasized that the 2026 World Nuclear Energy Summit in Paris clearly demonstrated that nuclear energy is returning as a key element of global energy strategy. Leaders highlighted the need for innovation, international cooperation, and new financial mechanisms, while the protests served as a reminder of the ongoing societal and geopolitical debates surrounding the sector.
During the forum, Milko Kovachev, on behalf of Bulatom, held a meeting with the president of the Brazilian association ABDAN, Celso Cunha, who invited Bulatom to participate with a delegation in ABDAN’s major conference in May 2027.
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