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.

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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.

A strategic partnership between the United Kingdom and the United States aims to shorten nuclear licensing timelines and strengthen industrial cooperation around fusion and modular reactors.
The International Atomic Energy Agency projects global nuclear capacity to reach 992 GW by 2050, driven by small modular reactors and lifetime extensions of existing plants.
Premier American Uranium and Nuclear Fuels have announced a target date of around September 19 to finalise their strategic consolidation, pending final approval from the TSX Venture Exchange.
The General Court of the European Union has rejected Austria’s appeal against the inclusion of gas and nuclear energy in the classification of sustainable investments.
Kazakhstan has signed an agreement with Nukem Technologies Engineering Services GmbH to benefit from German expertise in nuclear decommissioning and radioactive waste management.
The European Court of Justice annulled the European Commission's authorisation of Hungarian state aid for the Paks II nuclear project, questioning compliance with EU public procurement rules.
A Chinese consortium has secured a CNY4.2bn ($594mn) contract for the construction of conventional islands for the Xuwei nuclear project, combining third and fourth generation reactors.
Rosatom and China National Nuclear Corporation signed a memorandum of understanding to strengthen bilateral cooperation in talent development and skills training in the nuclear sector.
Iran has reached a new agreement with the International Atomic Energy Agency to formalise the resumption of inspections, following months of suspension linked to military tensions and criticism of its nuclear programme.
The French Energy Regulatory Commission outlines a structured plan to accelerate the deployment of small modular reactors, focusing on industrial heat and series effects to enhance competitiveness.
US-based Nuclearn has secured $10.5mn to scale its artificial intelligence platform, already deployed in over 65 nuclear reactors, to automate critical operations amid rising energy demand.
The steel dome of the CAP1000 Haiyang 4 reactor has been positioned, a major construction milestone paving the way for upcoming maintenance and technical installation phases.
The Groupement des Industriels Français de l'Énergie Nucléaire and the Belgian Nuclear Forum formalise a partnership aimed at strengthening industrial exchanges and joint projects between the two countries’ nuclear sectors.
The International Atomic Energy Agency warns that little time remains to reach an agreement with Iran on fully resuming inspections, as European sanctions could be reimposed within 30 days.
Slovenia’s JEK2 project moves forward with two nuclear technologies judged technically compatible, estimated between EUR9.31bn ($10.1bn) and EUR15.37bn ($16.66bn).
US-based Oklo will build the country’s first privately funded nuclear fuel recycling centre in Oak Ridge, investing $1.7bn and creating over 800 jobs.
The Tennessee Valley Authority partners with ENTRA1 Energy to develop up to 6 gigawatts of modular nuclear capacity, in an unprecedented project supporting energy growth across seven U.S. states.
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.

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