Council of the EU approves new ITER financing for fusion energy – 5.61 billion euro

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The Council adopted a decision securing the continuation of the European financing of the International Thermonuclear Experimental Reactor (ITER) project during the Multiannual Financial Framework period 2021-2027. The indicative European contribution to the project for the period 2021-2027 is set at €5.61 billion in current prices.

The International Thermonuclear Experimental Reactor (ITER) agreement was signed in November 2006 by Euratom, the United States, the Russian Federation, Japan, China, South Korea and India. Euratom, which is according to the ITER Agreement the Host Party, has taken the lead in this project. This international fusion energy project is a first-of-a kind long-term project to build and operate a reactor to test the feasibility of fusion as an energy source.

According to Commission estimates, the important achievement of the first plasma will probably take place in December 2025, with the full operation estimated in 2035. Fusion energy as a viable commercial energy source is not expected to produce electricity before 2050.

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