The International Energy Agency (IEA) hosted a conference in Paris, gathering about 80 global experts to discuss expanding nuclear power’s role in the energy transition. The event included representatives from government, industry, finance, international organizations, and academia. They focused on the challenges and potential solutions to increasing nuclear power capacity, highlighting its importance in strengthening energy security and addressing climate change.
IEA Executive Director Fatih Birol led the discussion on how collaboration between the public and private sectors can enhance nuclear power’s role. IEA’s Director of Energy Markets and Security, Keisuke Sadamori, provided the opening and closing remarks.
Since the global energy crisis triggered by Russia’s invasion of Ukraine, many countries have renewed their interest in nuclear power. As a stable source of electricity, nuclear energy is critical to the IEA’s pathway for achieving net zero emissions by mid-century. Currently, 25 countries have committed to tripling global nuclear power capacity by 2050.
However, investment in the nuclear sector has not kept pace with these ambitious targets. Concerns over costs, policies, and construction risks are slowing growth. Nuclear power also faces stiff competition in energy markets, which complicates its expansion. The development and implementation of innovative technologies will be key to overcoming these challenges.
During the conference, participants discussed ways to manage and reduce project risks, aiming to encourage more investment in nuclear power. These discussions will contribute to a report that the IEA is preparing, which is scheduled for release in early 2025. The report will provide further insights on how to support nuclear power’s role in the global energy transition.
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