A nuclear plant could add billions to Greek GDP and support thousands of jobs
A new study by Athlos Energy and Helixos estimates that building a 1,600 MW nuclear power plant could contribute about €4.5 billion to Greece’s gross domestic product (GDP) over the full construction period. The project could support around 12,000 jobs at peak construction and create opportunities for Greece’s existing industrial base. The findings add an economic perspective to Greece’s assessment of the potential role of nuclear power in its future energy mix, focusing on GDP, employment, tax revenues and opportunities for Greek industry. It forms part of Athlos Energy’s preliminary assessments of the requirements for developing the country’s first nuclear power project.
Greek businesses could participate from the start
The study assumes investment of about €11 billion, with more than 40%, or approximately €4.6 billion, spent within Greece. This could create work in construction, metal products, electrical equipment and technical services. The findings highlight the potential for Greece’s existing industrial base to participate, even without an established domestic nuclear industry. Preparing businesses and developing the relevant skills would help Greece capture this opportunity.
“Across Europe and around the world, we're seeing growing interest in nuclear energy, driven by energy security, rising electricity demand, and the need for reliable, low-carbon power. Greece now has an opportunity to consider what nuclear energy could mean for its own energy future and economic development,” said Alexander Borovskis, Co-founder of Helixos, a global nuclear energy consultancy. “Our study shows that even without an established domestic nuclear industry, a first nuclear power plant could generate billions of euros in economic benefits and create thousands of jobs, capitalizing on existing Greek industry and talent.”
Thousands of jobs and opportunities for skilled careers
At peak construction, total employment could reach about 12,000 jobs, including around 4,000 directly on the project. The remainder would be supported through suppliers and workers’ spending across the wider economy.
During operation, the plant could support about 1,900 jobs across the station and the wider economy. Roles include engineers, skilled tradespeople, plant operators, and scientific and administrative staff. Many require specialised technical skills, creating opportunities for workforce development and long-term employment. The corresponding contribution to Greek GDP during operation is estimated at about €160 million a year.
Economic activity reaches beyond the plant
Orders would support suppliers, while workers’ spending would benefit other businesses and local markets. During construction, the study estimates €2.18 in total gross value added across the Greek economy for every €1 created directly. These effects could reach businesses and communities beyond the nuclear industry. Government tax revenues are estimated at about €1.2 billion over the construction period and €60 million a year during operation.
“This study shows that even a single nuclear power plant could generate billions of euros in economic activity, support thousands of jobs, and create opportunities for Greek businesses across a wide range of industries,” said Efstathios Vlassopoulos, Co-founder of Athlos Energy. “With the right preparation, Greece has the potential to capture a significant share of these benefits.”
Nuclear power could complement renewable generation
Beyond direct economic benefits, nuclear energy could also play an important role in Greece's longer-term energy strategy. As the country navigates rising electricity costs, continued reliance on natural gas, and growing demand for reliable power, nuclear energy offers the potential to provide a dependable source of low-carbon electricity alongside Greece's expanding renewable energy capacity.
Smaller projects offer another scale to consider
The analysis also examines a separate 300 MW small modular reactor (SMR) scenario. Its contribution to Greek GDP is estimated at about €590 million over the construction period, with around 2,100 jobs supported at peak construction. During operation, the plant could support about 500 jobs across the station and the wider economy. Phased expansion through additional SMR modules should also be considered in future project planning. This approach could offer economies of scale and further increase the project’s contribution to Greek industry, employment and economic growth.
