European Union countries' plans to expand nuclear energy will require 241 billion euros ($278 billion) in investments, and new funding instruments to make these huge costs less risky for private investors, the European Commission said on Friday.

EU countries have set out plans to expand their nuclear power capacity to 109 gigawatts by 2050, up from 98 GW today, the Commission said in a draft analysis of investment needs for the sector, due to be published on Friday.