Germany's nuclear waste fund grows to €28 bln, eyes role in state pension fund

RWE AG

15/07/2026 11:49

BERLIN, July 15 (Reuters) - Germany's nuclear waste management fund Kenfo grew its assets to around €28 billion ($31.97 billion) last year, earning a 6.2% return and transferring €823 million to the federal government to cover disposal costs, it said on Wednesday.
The fund was created to manage the long-term financing of nuclear waste storage and shield taxpayers from its costs 
Set up in 2017 with an initial €24 billion, Kenfo was financed by German utilities E.ON, RWE, EnBW and Vattenfall in exchange for transferring their nuclear waste storage liabilities to the state
Chief Executive Anja Mikus said in Berlin that Kenfo was well-positioned to also manage a planned state capital pension fund due to start in 2028
Mikus said Kenfo has the needed skills, a proven investment structure and low costs
The selection process for the capital pension manager has not yet started, Mikus said
The fund delivered a return of 7.9% in the first half of 2026 despite headwinds from the war in Iran, Mikus said


($1 = 0.8759 euros)

 (Reporting by Holger Hansen, Writing by Kirsti Knolle, Editing by Miranda Murray)
 ((kirsti.knolle@thomsonreuters.com))