The global nuclear power industry is at a pivotal moment, with 31 countries pledging to triple nuclear energy capacity by 2050. This commitment comes as electricity demand surges worldwide, driven by electric vehicles and data centers. The US, with the highest number of operational reactors, would need to add 200 gigawatts to its current 100 gigawatts if it triples its capacity. However, the US has stalled in building new conventional reactors, with only one new reactor at the Vogtle plant in Georgia coming online recently. Meanwhile, Asia, particularly China, is leading in nuclear expansion. China, which connected its first nuclear plant to the grid in 1991, now has the third-largest fleet globally and plans to commission four large reactors this year. Advanced reactors, known as Generation IV, are also progressing, with various designs using different coolants and fuels. The US is a hub for these innovations, with companies like Kairos Power and TerraPower advancing their projects. Additionally, there’s a trend towards extending the life of existing reactors, with many in the US and Europe receiving license extensions up to 80 years. The tech industry is also showing interest, with Microsoft, Google, and Amazon investing in nuclear projects to meet the growing energy demands of AI and data centers.
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