Nuclear: Between Ambitions and Contrasting Realities

Nuclear power is regaining popularity in the face of the climate crisis. However, a recent report highlights the limits of its expansion, dominated by China and Russia.

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The renaissance of nuclear power against a backdrop of climate emergency offers a glimmer of hope. Nations are desperately seeking alternatives to fossil fuels, and nuclear power, despite its controversial past, is re-emerging as a viable option. However, the latest WNISR report, analyzing trends and statistics in the sector, reveals a complex reality. With 407 reactors in operation in 32 countries, the global nuclear scene looks dynamic. However, these figures represent a slight drop on previous years, with 4 fewer units than in 2022, and 31 fewer than at the 2002 peak. This reduction indicates not only a slowdown, but also the challenges inherent in maintaining aging fleets and building new capacity.

Reactor Construction: A Monopoly of Power

Nuclear expansion is, worryingly, highly concentrated. Between December 2019 and mid-2023, 28 new reactors began construction. However, this growth is driven almost exclusively by two players: China and Russia. China, with its ambitious nuclear development program, and Russia, through its giant Rosatom, dominate the reactor construction landscape. This geopolitical concentration raises questions about the diversity and resilience of the global nuclear market. While other countries such as France, the UK and the USA contribute modestly, with a few projects each, the predominance of China and Russia raises concerns about the balance of power and technological dependence in the sector.

The Challenges of Nuclear Renewal

The WNISR report highlights several challenges facing the nuclear sector. Firstly, the management of aging fleets poses an increased risk of failure and high maintenance costs. In addition, the sector is marked by chronic delays and significant cost overruns in new construction projects. This trend is illustrated by projects such as the Flamanville EPR in France, which has suffered delays and cost overruns. The 549-page report describes a sector struggling to maintain its relevance and competitiveness in the face of rapidly evolving energy alternatives, such as renewable energies. The ambitious goal of tripling nuclear production by 2050, often cited in political and industrial circles, is deemed “highly unrealistic” by the report’s authors, given these obstacles.
The WNISR report provides a balanced overview of the current state of the nuclear industry. Although nuclear power has regained some favor in the context of the climate crisis, its future expansion is far from assured. Structural challenges, construction delays, high costs and the geopolitical concentration of production limit its growth potential. The future of nuclear power, while promising in theory, remains uncertain and will depend on the industry’s ability to overcome these obstacles.

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A report by the International Atomic Energy Agency puts Iran’s 60% enriched uranium at 440.9 kg before Israeli and U.S. strikes, while the agency’s access to enrichment sites has remained suspended since the operations.
US-based Westinghouse has signed six industrial agreements in the UK to supply critical components for its AP1000 and AP300 nuclear projects in Britain and abroad.
NANO Nuclear Energy receives direct funding from the US Air Force innovation branch to assess the integration of its KRONOS MMRâ„¢ microreactor at the Washington D.C. military base.
EDF extends the operation of Heysham 1 and Hartlepool by one year after favourable safety inspections, ensuring continuity of nuclear production and safeguarding more than 1,000 jobs.
Russian nuclear group Rosatom has confirmed advanced discussions with India and Turkey to launch new power plants, including advanced and floating reactor technologies.
The International Atomic Energy Agency has identified uranium particles of industrial origin in samples taken from a Syrian site suspected of hosting an undeclared nuclear reactor.
Norwegian authorities begin the first regulatory phase for two modular nuclear reactor projects, marking a strategic step in the national review of the potential role of nuclear energy in the country’s power mix.
With eleven reactors under construction and major projects such as Jaitapur, India is preparing a nuclear build-up that could place it among the world’s five leading nations in the sector.
France and Germany have validated a joint energy roadmap, including a commitment to the non-discrimination of nuclear energy in European financing.
Russia and Iran seek to strengthen their nuclear cooperation as the E3 activates the sanctions mechanism against Tehran, reigniting tensions over compliance with the 2015 Vienna agreement.
US-based Natura Resources has secured strategic funding and key permits for its MSR-1 nuclear reactor, backed by public funds and enriched fuel allocation from the Department of Energy.
The United States and South Korea have agreed to initiate discussions on reprocessing spent nuclear fuel, marking a potential strategic shift in the long-standing bilateral agreement.
The United States Nuclear Regulatory Commission has granted a 40-year extension for the AP1000 reactor design certification, supporting its long-term construction domestically and deployment abroad.
Nano Nuclear Energy has signed a memorandum of understanding with Dioxitek, Argentina’s only uranium supplier for nuclear fuel, to assess the development of local conversion and enrichment capacities.
Stockholm plans to restart uranium extraction by lifting the 2018 ban, aiming to secure strategic supply chains and support domestic nuclear electricity production.
The French Atomic Energy Commission has signed a letter of intent with start-up Calogena to study the installation of a 30 MW thermal small nuclear reactor at its Cadarache site.
A Guidehouse Research report anticipates strong growth in the global nuclear modular reactor market, with revenues rising from $375.8 million in 2025 to $8.1 billion in 2034.
KHNP, Doosan, POSCO and Samsung C&T join US partners to develop 5 GW of modular reactors, expand uranium enrichment and build an 11 GW energy complex in Texas.
The US Department of Energy is creating an industrial consortium to accelerate domestic enriched uranium production and reduce reliance on foreign imports ahead of the Russian supply ban in 2027.

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