14 financial institutions support nuclear expansion by 2050

Fourteen major financial institutions have pledged to support the global expansion of nuclear power to triple its capacity by 2050, marking a key step in the energy transition.

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At Climate Week in New York, fourteen leading financial institutions expressed their support for tripling global nuclear power capacity by 2050. This announcement echoes the Declaration to Triple Nuclear Power, launched at COP28 in Dubai in 2023.
Banks and investment funds recognize that nuclear power, as a complement to renewable energies, is crucial to achieving global decarbonization targets. The inclusion of nuclear power in discussions on energy transition represents an important turning point.
Indeed, these financial institutions emphasize that nuclear power offers a reliable source of low-carbon electricity, helping to stabilize energy grids while reducing greenhouse gas emissions.
Among the banks involved in this initiative are Barclays, Morgan Stanley, BNP Paribas and Société Générale.
These establishments emphasize the need to develop new financial tools to support nuclear projects in the development phase.

Financing nuclear expansion

The financial requirements for the development of new nuclear infrastructures are considerable.
The high cost of projects, combined with regulatory complexity, is still holding back large-scale deployment.
However, Climate Week participants stressed that traditional financial mechanisms must evolve to support this strategic sector.
They believe that government-backed loans and risk-sharing mechanisms could make nuclear projects more attractive to investors.
For financial institutions, the challenge lies in mobilizing long-term capital and creating suitable financing models.
Sweden’s Energy Minister, Ebba Busch, has outlined her government’s proposal for guaranteed loans, Contracts-for-Difference and risk-sharing schemes to accelerate the construction of new power plants.
These initiatives aim to make nuclear power competitive with other low-carbon energy sources, while meeting the growing need for electricity.

Growing demand

The acceleration of the energy transition requires us to meet a growing demand for electricity, particularly with the development of new technologies such as artificial intelligence and data centers.
These sectors require reliable and abundant energy, which makes nuclear power a preferred solution for meeting these needs without increasing CO2 emissions.
The role of banks in this energy transformation is fundamental.
Leaders at Climate Week stressed the need to develop partnerships between the financial sector and energy companies to facilitate the financing of long-term nuclear projects.
Financial players must collaborate with energy producers, regulators and governments to create favorable environments for investment in nuclear power.

A favorable political framework

In addition to the financial aspects, speakers also stressed the importance of a clear policy framework to encourage the development of nuclear power.
Many countries, including France, Sweden and the United States, have already integrated nuclear power into their decarbonization strategies, recognizing its central role in stabilizing power grids and reducing emissions.
These countries are exploring new ways to make the nuclear sector more competitive, notably through regulatory reforms and financial incentives.
Discussions around the financing and regulatory framework for nuclear power are taking place against a backdrop of strong demand for low-carbon energy solutions.
With global targets set for reducing greenhouse gas emissions, the nuclear sector presents itself as a key solution for supporting the energy transition without compromising security of supply.

Growing international support

The initiative to triple nuclear capacity is enjoying growing international support.
Twenty-five countries have already endorsed the Declaration to Triple Nuclear Power, including Japan, the UK, Poland and Canada.
These nations recognize the importance of mobilizing funding to make nuclear power competitive in the long term, while respecting the objectives of the Paris Agreement.
Discussions around this nuclear expansion are also supported by private sector players, particularly in energy-intensive industries.
For these companies, access to reliable, low-carbon electricity is essential to ensure their global competitiveness.
Leaders at Climate Week agreed that the development of new reactors and the modernization of existing infrastructure are crucial steps towards achieving the 2050 targets.
By combining public and private financing, nuclear projects can become viable on a large scale, supporting the energy transition.

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EDF adjusts its 2025 nuclear production forecast to between 365 and 375 TWh, supported by the performance of its industrial programme START 2025 focused on maintenance efficiency.
The United Nations nuclear agency is urging Ukraine and Russia to establish a local ceasefire to repair damaged power lines at the Zaporizhzhia plant, which remains on alert after losing all external power supply.
Deep Isolation is calling on First Mover States to incorporate radioactive waste management into their joint strategy to ensure the industrial viability of new nuclear reactors.
Canada’s nuclear regulator has approved the launch of a new building that will store used steam generators from Bruce Power's refurbishment programme.
Costain has been selected to upgrade essential utilities at the Sellafield nuclear site under a contract worth up to £1bn over fifteen years.
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The upcoming Sizewell C nuclear power plant secures its fuel supply through agreements signed with Urenco and Framatome, marking a key step in strengthening the United Kingdom’s long-term energy stability.
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A nationwide debate on radioactive waste strategy begins on October 13 for four months. It will accompany the preparation of the next five-year roadmap regulating storage, treatment and funding policies through 2031.
Holtec International has ended its planned interim nuclear storage facility in New Mexico, citing ongoing legal hurdles and political deadlock over spent fuel management.
An international audit led by the International Atomic Energy Agency confirms that Spain has fully addressed the recommendations made in 2018 regarding its nuclear waste management programme.
EDF anticipates a 35 MW decrease in output for the Flamanville EPR between 2026 and 2031, citing a degraded performance level with no official technical explanation to date.
Nuclear Power Corporation of India Ltd has pushed the Bharat Small Reactors proposal deadline to 31 March 2026, aiming to expand private sector engagement in the captive nuclear energy project.
The Philippine government grants contractual advantages and priority dispatch to its first nuclear project, laying the groundwork for sustained sector development in the coming decades.
The merger between Terra Innovatum and GSR III Acquisition Corp. includes $130mn in proceeds aimed at supporting the industrial development of its SOLO™ micro-nuclear reactor.
US nuclear technology firm NANO Nuclear Energy has secured $400mn through an oversubscribed private placement, raising its cash position to approximately $600mn to accelerate development of its KRONOS MMR™ microreactors.

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