Belgium and Engie Extend Nuclear Asset Transaction Deadline to 12 December
Deadline Extended Again
The Belgian government, Engie, and Electrabel have agreed to extend the target date for concluding heads of terms on a proposed nuclear asset transaction to 12 December. The parties had previously shifted the original 1 October deadline to 4 November to allow additional time for analysis and discussion. The latest extension grants one additional month, which the parties describe as a maximum period.
In a joint statement, the three parties acknowledged that in-depth discussions over recent months had produced progress and strengthened mutual understanding, but noted that significant differences remain, particularly regarding the valuation of the transaction. They stated their intention to use the additional time to reconcile their positions.
Scope of the Proposed Transaction
Negotiations are based on a Letter of Intent agreed in late April, which covers the full scope of nuclear activities currently owned and operated by Engie and Electrabel and their affiliates. The proposed transaction encompasses all seven reactors in the Belgian fleet, associated personnel, all nuclear subsidiaries, and all related assets and liabilities, including decommissioning and dismantling obligations.
A key financial element of the broader framework already agreed is the transfer of nuclear waste liabilities from Engie to the Belgian state for EUR 15 billion, payable in two instalments. The transaction reflects the Belgian government's stated strategic objective of assuming direct ownership of the country's nuclear assets, with a view to extending existing reactor operations and developing new nuclear capacity.
LTO Overhauls Completed for Doel 4 and Tihange 3
Both of Belgium's currently operating reactors have recently completed long-term operation overhauls. Tihange 3 was taken offline on 5 April 2025 for an extensive inspection and maintenance programme. Following review by regulator FANC and its technical subsidiary Bel V, the 1,020 MWe pressurised water reactor was cleared for safe restart and returned to service on 10 July. Doel 4 was shut down on 30 June for its own LTO overhaul and restarted on 8 October.
Both units had submitted comprehensive LTO files, including safety studies and action plans, to regulators in December 2024 as a prerequisite for continued operation to 2035.
Policy and Regulatory Background
Belgium's federal parliament voted by a large majority in May 2025 to repeal the 2003 law that had mandated a phase-out of nuclear power and prohibited construction of new nuclear generating capacity. The repeal clears the legislative path for long-term operation and potential new build.
Of the original seven-reactor fleet, five units have now ceased operation. Doel 3 closed in September 2022, Tihange 2 at the end of January 2023, Doel 1 in February 2025, Tihange 1 on 30 September 2025, and Doel 2 in December after 50 years of operation. Doel 4 and Tihange 3 remain in service and are authorised to operate until 2035, with Belgium's coalition government having announced in February 2025 plans to extend their operation by a further ten years beyond that date.