Global Nuclear Energy Surges with 70 GW Under Construction: IEA

17 Jan 2025 CW Team

Nuclear energy is gaining global traction, with over 70 GW of capacity under construction—the highest in 30 years—according to the IEA’s latest report, The Path to a New Era for Nuclear Energy. Technological advancements, policies, and investments, including small modular reactors (SMRs), are fueling this growth.

The report further stated that more than 40 countries are expanding nuclear's role, but challenges like project delays, financing, and supply chain risks persist.

China leads the sector, with 25 reactors under construction since 2017, positioning itself to surpass the US and Europe in nuclear capacity by 2030. Meanwhile, Russia accounts for 40 percent of global uranium enrichment, reflecting the industry's market concentration risks.

SMRs offer faster construction and private sector interest, with potential capacity reaching 80 GW by 2040. Annual investments must double to US $ 120 billion by 2030 to meet demand. Stable policies, financing, and regulatory frameworks are key to attracting private capital, as nuclear energy becomes increasingly viable for data centers and AI operations.

The IEA underscores nuclear’s role in the energy transition, emphasizing low-carbon power's importance in a growing global electricity market.

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