Global nuclear expansion to 2050

Nuclear power is gaining ground, prioritized as a key solution to climate change at the COP in December 2023. A major challenge lies ahead for 2050, despite the geopolitical challenges.
Triplement Capacité Nucléaire 2050

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The recent global conference, hosted by Sama Bilbao y León of the World Nuclear Association, marked a turning point with the announcement of an international commitment to triple nuclear capacity by 2050. This ambitious initiative reflects a strategic response to the energy insecurity exacerbated by current geopolitical tensions.

The challenges of nuclear expansion

According to ČEZ‘s Bohdan Zronek, achieving this goal will require a considerable increase in all components of the nuclear value chain. The estimated construction of 40 GWe of new nuclear capacity each year poses a major challenge, requiring the construction of around twenty large reactors and seventy SMRs annually.

Innovation and technological development

The conference also underlined the crucial importance of innovation and new technologies to support this expansion. Improving processes from uranium ore extraction to fuel fabrication is essential to meet the sector’s high expectations.

Uranium market dynamics and strategic collaborations

Kazatomprom, a major player in the market, via Dastan Kosherbayev, explained how joint ventures and strategic partnerships strengthen Kazakhstan’s position as a reliable supplier on the international uranium market. These strategic alliances are vital to the sustainability and reliability of the global nuclear energy supply.

The uranium market and geopolitical challenges

The current geopolitical context and possible sanctions against Russian uranium supplies underline the urgency of collaborative international initiatives to balance energy security and geopolitical stability. The emergence of new players in the market is essential for the sustainable growth of the sector.

The WNFC 2024 conference highlighted the complex challenges and opportunities facing the nuclear sector as it faces an urgent need for expansion. Collaboration and innovation are crucial to overcoming these challenges and ensuring a sustainable future for nuclear energy.

After several decades without funding nuclear projects, the World Bank has formed a strategic partnership with the IAEA to provide technical and financial support to countries integrating nuclear energy into their energy strategies.
South Korea's Nuclear Safety and Security Commission officially validates the decommissioning of reactor number one at the Kori plant, initiating an unprecedented project for the national industry scheduled to last until 2037.
Uranium producer enCore Energy surpasses three thousand pounds per day at its Alta Mesa ISR complex and sees three new Texas laws as a strong signal for faster nuclear production permits.
The International Atomic Energy Agency expresses concerns over Iran’s enriched uranium stockpiles following the abrupt suspension of inspections at key sites disrupted by recent attacks whose consequences remain uncertain.
NPCIL has announced an extension until September 30 for industrial proposals concerning Bharat Small Reactors (BSR), following increased interest from the Indian private sector.
A regional court has upheld the award of two new reactors in the Czech Republic to Korea Hydro & Nuclear Power, dismissing Électricité de France’s challenge to the €16bn contract in a decisive step for the national energy programme.
Facing rising temperatures, EDF anticipates cuts in nuclear production starting early July, primarily due to thermal constraints on rivers used for cooling the power plants.
The preliminary agreement launches planning and site assessment for a tailored AP1000 reactor, following two years of feasibility study, and enlists Westinghouse and Hyundai to support Fortum’s regional nuclear expansion.
Donald Trump's unprecedented decision to dismiss Christopher Hanson, a member of the NRC, provokes outrage among former federal officials and raises concerns over the regulatory independence of the U.S. nuclear sector.
Uranium Energy Corp strengthens its position in Anfield Energy Inc., now holding approximately 32.4% of the company’s shares following an investment of CAD19.55mn ($14.82mn), significantly expanding its strategic influence in the uranium market.
New York State plans an advanced nuclear power plant with a 1-gigawatt capacity to meet long-term energy and economic goals, involving significant investment to enhance regional energy independence.
Niger announces its intention to nationalize SOMAÏR, a mining company jointly owned with Orano, provoking strong opposition from the French company and paving the way for further international legal tensions.
Russia strengthens its economic presence in Mali with new agreements, notably in nuclear energy and gold refining, consolidating strategic cooperation within a rapidly evolving geopolitical context.
The US government grants a fourth payment of $100.45 mn to Holtec International to restart the Palisades Nuclear Plant, pending regulatory approval, marking an unprecedented event in the United States.
EDF announces a major agreement with Apollo to raise up to £4.5 billion via bonds to finance the British nuclear project Hinkley Point C, whose costs continue to rise significantly.
The Élysée proposes Anne-Isabelle Étienvre, current Director of Fundamental Research at the CEA, as General Administrator to replace François Jacq, recently appointed President of CNES.
Greek Prime Minister Kyriakos Mitsotakis has announced his country's interest in small modular nuclear reactors to meet national energy challenges and decarbonize the maritime sector within the next fifteen years.
TerraPower, an American nuclear company, secures $650 million funding from investors, including NVIDIA, to develop its Natrium modular reactors in the United States and internationally.
EDF and the French state finalize a €70 billion financing plan for six EPR2 nuclear reactors, including a specific territorial coordination framework in Gravelines led by Michel Marbaix, awaiting European approval by 2026.
Maire S.p.A and Newcleo form strategic partnership to industrialise the development of 200 MW modular nuclear power plants, via a joint venture majority-owned by Nextchem.