Belgian state to take over Engie's seven Belgian reactors as De Wever pivots back to nuclear
Source · Energy desk
— Summary
Engie and the Belgian state signed a letter of intent on Thursday opening exclusive talks for the state to buy Engie's entire Belgian nuclear business, run through subsidiary Electrabel. Engie owns seven reactors in Belgium, of which only two are still in operation. Decommissioning operations are "suspended with immediate effect", Prime Minister Bart De Wever announced on X — a pause that, according to Belgian daily La Libre, will trigger compensation to Engie. The two parties have set a deadline of 1 October 2026 for a full memorandum of understanding, but stress the LOI is "not a firm commitment to close the transaction". Engie's stock rose more than 2% after the news.
The deal flips a decade of policy. Belgium had planned to exit nuclear by 2025, but the Ukraine war and energy security worries changed the equation. The Flemish-conservative government led by De Wever, in office for a year, made extending the existing fleet (4 GW) and building 4 GW of new capacity central to its programme. Engie, which had only conceded extending two of seven reactors, refused to build new ones. Reactors Doel 3 and Tihange 1 were stopped late 2022/early 2023, with demolition pencilled in for 2027 — hence the urgency for Belgium, which now wants to study restarting Tihange 1.
After repurchasing the fleet, the Belgian state could keep Doel 4 and Tihange 3 running beyond 2035 and look for an industrial partner: EDF and US Westinghouse have been mentioned. Per La Lettre last September, EDF executive Cédric Lewandowski had explored a takeover of Electrabel's nuclear arm, but France's APE — which manages the state's 100% stake in EDF — was not in favour. For Engie, this is a chance to draw a line under a Belgian nuclear file that has poisoned its outlook for years. Source: Les Echos, 30 April 2026, Sarah Dumeau and Hortense Goulard.
Belgian state to take over Engie’s seven Belgian reactors
The story in one line: The Belgian government has signed a letter of intent to buy Engie’s entire Belgian nuclear fleet, suspending decommissioning immediately and reversing a decade-old exit plan.
Key numbers
7 reactors to be acquired (2 active, 5 idle)
Government extension target: 4 GW existing + 4 GW new
Deadline for a memorandum of understanding: 1 October 2026
Doel 3 and Tihange 1 idled since late 2022/early 2023; demolition was scheduled for 2027 — now suspended
Doel 4 and Tihange 3 could be kept running beyond 2035
Engie has been trying for years to exit Belgian nuclear; the file weighed on its outlook because of decommissioning-cost uncertainty. The state taking the assets removes that overhang and lets Engie focus on gas and renewables. For Belgium, the move locks in a U-turn on the 2025 phase-out and matches similar nuclear restarts being studied across Europe (Italy, the Netherlands, the UK). The compensation Engie will receive for stopping decommissioning operations is the next number to watch — La Libre flags it but does not put a figure on it.
The choice of industrial partner is the bigger geopolitical decision. EDF is the natural fit but France’s state shareholder agency has resisted. Westinghouse is a credible alternative and would extend the US footprint in European nuclear at a moment when Trump’s tariff diplomacy is reshaping transatlantic energy ties.
Takeaway
For Engie, this is a clean exit and a re-rating catalyst — assuming the price isn’t punitive. For the Belgian state, it commits to running and possibly building reactors, with all the capex and political risk that entails. Watch the 1 October memorandum, the compensation figure, and which industrial partner gets the operating role.
Source: Les Echos, 30 April 2026, Sarah Dumeau and Hortense Goulard.