European Council Approves Continued Financing for ITER

The European Council in a press release on 22 February said it had adopted a decision securing the continuation of European financing for the International Thermonuclear Experimental Reactor (ITER) project during the Multiannual Financial Framework (MFF) period 2021-2027. The European contribution to the project for that period is set at €5.61 billion ($6.8bn) in current prices.

The International Thermonuclear Experimental Reactor (ITER) agreement was signed in 2006 by Euratom, the USA, Russia, Japan, China, South Korea and India. Euratom, which is according to the ITER Agreement the Host Party, has taken the lead in this project.

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