As the world pushes towards net zero by mid-century, the need for increased investments and challenges in financing nuclear newbuild projects is more pressing than ever. During a session addressing this issue, Mr Grossi discussed the potential for advanced nuclear technologies to be a new market for the technology sector. He highlighted that electricity consumption from data centers, artificial intelligence, and cryptocurrencies is currently at just 2% of global electricity consumption, but is projected to double by 2026 according to the International Energy Agency.
The IAEA actively participated in side events at the World Energy Congress, including sessions organized by the Asian Development Bank and the China National Nuclear Corporation. These events focused on integrated energy planning, financing approaches for clean energy projects, and advancements in reactor technologies. Additionally, the IAEA organized a side event with speakers from various organizations to discuss the opportunities and challenges that the nuclear energy sector will face in the coming years as countries work to achieve net zero emissions.
The Netherlands also made an appearance at the event, announcing their intent to expand their existing nuclear reactor fleet as part of their commitment to advancing both nuclear and renewable energy. Martijn Schut, Director for Nuclear Energy at the Netherlands’ Ministry of Economic Affairs and Climate Policy, emphasized his country’s comprehensive approach to achieving environmental sustainability and economic viability. With these developments taking shape on a global scale, it’s clear that advances in nuclear technology are playing an increasingly important role in shaping our future energy landscape.
