Nuclear revival: 25 GW needed each year to reach 1,160 GW by 2050

The nuclear sector, crucial to the fight against climate change, is struggling to triple its global capacity by 2050. An expert report reveals financial and structural challenges, underscoring the urgent need for concerted action to revitalize the industry.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

The nuclear sector, which has long been on the back burner, is enjoying renewed interest in the current context of the fight against climate change. However, despite the ambitions expressed by industry players, the promise to triple global nuclear capacity by 2050 remains largely unfulfilled.
An expert report, the “Annual Report on the State of the Global Nuclear Industry”, highlights the challenges facing this revival, pointing out that, apart from a notable increase in Asia, particularly China, progress remains limited.
The report states that to meet carbon neutrality targets, it would be necessary to triple global nuclear capacity.
This would involve a combination of existing reactors, new generation units and modular mini-reactors.
The OECD’s Nuclear Energy Agency estimates that around 25 gigawatts of capacity would need to be added each year, taking installed capacity from 394 GW in 2020 to 1,160 GW in 2050.
However, in 2023, only five new reactors, representing a capacity of 5 GW, were commissioned, while five others were shut down, resulting in a net decrease of 1 GW.

The challenges of nuclear revival

Mycle Schneider, coordinator of the report, points out that “just to maintain current capacity, we would already need to commission 10 reactors a year”, which would mean doubling the rate of construction observed in 2023.
He adds that “tripling capacity by 2050 would mean building between 800 and 1,000 additional reactors, which is impossible”.
These statements highlight the structural obstacles standing in the way of a nuclear revival, in particular the need to rebuild an appropriate training and supply chain.
The report also points out that the sector faces considerable financial challenges.
Nuclear projects are long and costly, making them difficult to finance.
By mid-2024, 59 reactors were under construction in 13 countries, but the majority of these projects are concentrated in China and Russia.
China, with 27 reactors under construction, is concentrating on its domestic market, while Russia, the international market leader, is overseeing 26 projects, 20 of which are in other countries.

Stagnant market share

Nuclear power’s share of electricity generation remained stable at 9.15% in 2023, reaching its lowest level for four decades.
On July 1, 2024, 408 reactors were in operation, representing a capacity of 367 GW, an increase of one reactor on the previous year, but well below the peak of 438 reactors reached in 2002.
This stagnation raises questions about the long-term viability of nuclear power as a solution for meeting decarbonization targets.
The future prospects for nuclear power therefore depend on the ability of industry players to overcome these challenges.
The need for international coordination and strong political support is more relevant than ever.
Ongoing discussions between OECD member countries on the levers for action to revive the atom could play a crucial role in revitalizing this sector.
The stakes are clear: without concerted action and significant investment, nuclear power risks remaining an unfulfilled promise in the fight against climate change.
Industry players have to navigate in a complex environment, where expectations are high but industrial and financial realities pose major challenges.
The revival of nuclear power, while essential to the energy transition, requires a pragmatic and realistic approach to avoid running up against insurmountable obstacles.

NANO Nuclear Energy receives direct funding from the US Air Force innovation branch to assess the integration of its KRONOS MMR™ 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.
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.
The kamikaze drone damaged an auxiliary transformer at the Kursk plant, halving the output of its only reactor in operation, according to Rosatom and the International Atomic Energy Agency.
The four production units at the Gravelines nuclear power plant, shut down in mid-August by a massive jellyfish incursion, are back online, restoring the site’s full capacity.
enCore Energy Corp. has completed a $115 million fundraising through convertible notes maturing in 2030, strengthening its financial capacity for upcoming operations.
Vattenfall advances its nuclear project in Sweden by selecting two modular reactor suppliers, GE Vernova and Rolls-Royce SMR, for a potential installation on the Värö Peninsula.

Log in to read this article

You'll also have access to a selection of our best content.

or

Go unlimited with our annual offer: $99 for the 1styear year, then $ 199/year.