As bolstering energy security and accelerating clean energy transitions have climbed up the political agenda in recent years, countries have shown renewed interest in nuclear power – an important source of stable electricity supply that also plays a vital role in the IEA’s pathway for achieving Net Zero emissions from the global energy sector by mid-century.
Twenty-five countries have now pledged to work towards tripling global nuclear power capacity by 2050. However, investment is not keeping up with ambition, as real and perceived cost, policy, and construction risks restrain growth in the sector. Nuclear power also faces tough market competition, and developing and implementing innovative technologies that could accelerate growth will be crucial.
Conference participants discussed these impediments as well as possible solutions, including mechanisms for managing and reducing project risks. Their insights will serve as a key input to a report the IEA is preparing on this topic scheduled for early 2025.
IEA Executive Director Fatih Birol chaired the session on how public-private cooperation can enhance nuclear power, while IEA Director of Energy Markets and Security Keisuke Sadamori delivered the opening and closing remarks.
