Nuclear Power Plant Could Generate €4.5 Billion for Greece

by · Greek City Times

A 1,600 MW nuclear power plant in Greece could contribute approximately €4.5 billion to the country’s gross domestic product (GDP) throughout its construction period and support up to 12,000 jobs, according to a new economic study by Greek company Athlos Energy and international consultancy Helixos.

The study estimates that the project could require an investment of approximately €11 billion, with more than 40% – around €4.6 billion – spent within Greece. This expenditure could benefit domestic businesses operating in construction, metal products, electrical equipment and technical services.

At peak construction, the project could support approximately 12,000 jobs, including around 4,000 directly involved in the plant’s construction.

Once operational, the facility could sustain approximately 1,900 jobs across the power station and the wider economy. These positions would include engineers, skilled tradespeople, plant operators, scientists and administrative staff.

Read more: 42% of Greek Workers Say Overtime Goes Unpaid

The study estimates that the plant could contribute around €160 million annually to Greek GDP during its operational life. It also projects government tax revenues of approximately €1.2 billion throughout construction and €60 million annually during operation.

Greek industry could benefit from nuclear investment

Although Greece does not have an established domestic nuclear industry, the study argues that existing industrial capabilities could allow Greek businesses to participate in the project.

Construction spending could create opportunities for local suppliers and contractors, while workforce training and specialised technical skills could support long-term employment.

The researchers emphasise that preparing businesses and developing the necessary workforce would help Greece capture a greater share of the economic benefits, extending opportunities to companies and communities beyond the nuclear sector.

Separate study examines 300 MW small modular reactor

The analysis also considers a separate scenario involving a 300 MW small modular reactor (SMR).

Under this scenario, construction could contribute approximately €590 million to Greek GDP and support around 2,100 jobs at peak activity.

During operation, the smaller reactor could sustain approximately 500 jobs across the facility and the wider economy.

The study also recommends considering a phased expansion through additional SMR modules in future project planning. This approach could generate economies of scale and increase the contribution to Greek industry, employment and economic growth.

Energy security and Greece’s nuclear ambitions

Helixos co-founder Alexander Borovskis said growing interest in nuclear energy across Europe and internationally reflected concerns about energy security, rising electricity demand and the need for reliable, low-carbon power.

He said Greece had an opportunity to examine the implications of nuclear energy for its future energy mix and economic development.

The study, he added, indicates that even a first nuclear power plant could generate billions of euros in economic benefits and thousands of jobs by drawing on existing Greek industrial capabilities and skilled workers.

Athlos Energy co-founder Efstathios Vlassopoulos said a single nuclear power plant could generate substantial economic activity and create opportunities for Greek businesses across multiple industries.

He added that appropriate preparation would help Greece capture a significant share of those benefits.

Greece examines the potential role of nuclear power

Founded in September 2024, Athlos Energy aims to establish the institutional foundations and provide responsible, objective information to the public about the potential use of nuclear energy in Greece. The company also seeks to support the development and implementation of the country’s first nuclear programme.

The company described the study as part of its preliminary assessment of the requirements for developing Greece’s first nuclear power project. Its findings add an economic dimension to the country’s consideration of nuclear energy, examining potential effects on GDP, employment, tax revenues and domestic industry.

Greece has never operated a nuclear power plant. However, in March 2026, Prime Minister Kyriakos Mitsotakis announced at the Second Nuclear Energy Summit in Paris that the country would examine the potential role of small modular reactors in its energy mix.

In August 2026, the Greek Council of Ministers established an Inter-Ministerial Committee to explore the potential of SMRs.

Mitsotakis had also said the previous year that Greece should play a leading role in research and debate on using nuclear energy to decarbonise shipping.

(Source: World Nuclear News)

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