Today's Edition
Mohammed Salem Alsalmi*
Global interest in nuclear energy has resurfaced due to geopolitical tensions, disruptions in energy supplies, and the evident effects of climate change on our planet. This renewed focus offers a fresh opportunity for nuclear energy, which was previously phased out. Notably, since nuclear energy emits no greenhouse gases into the atmosphere, it performs better than other energy sources.
The international context has breathed new life into nuclear power generation. Initially, plans were made to close nuclear plants, but now there is a push for expansion. This shift comes from the realisation that wind and solar energy alone are insufficient for the transition to clean and renewable energy. Nuclear energy presents a viable solution as it requires limited amounts of uranium fuel, which can be stored for long periods, and provides a stable source of electricity, especially for energy-intensive industries.
This trend was highlighted at the COP28 climate summit in the UAE, where more than twenty countries, including the UAE, the US, and France, called for tripling the global nuclear energy capacity by 2050. Recognising the crucial role nuclear energy plays in achieving climate neutrality by 2050, the UAE is leading the Middle East and North Africa region in adopting nuclear power through the construction of the Barakah nuclear power plants as part of its energy diversification strategy.
By 2022, there were 440 active nuclear power plants across 33 countries, with a combined capacity of 417,000 megawatts. Projections suggest that global nuclear power generation will reach 650,000 megawatts by 2050, accounting for 15% of the world’s total electricity production. Currently, the US is the largest producer of nuclear electricity, followed by China, France, Russia, South Korea, and Canada.
France plans to build new reactors, particularly small modular reactors, which are smaller, cheaper, and faster to implement compared to full-sized reactors that can take decades to construct. China is building 11 new nuclear reactors and currently operates 56, contributing 5% of its total power generation. Large-scale nuclear power programs are also underway in the UK, Russia, India, the US, Egypt, and Türkiye.
We still need to develop nuclear technology for use beyond electricity generation in technologically advanced economies. Large light-water reactors must become effective alternatives to fossil fuels in power grids. Additionally, it is essential to develop smaller, less complex advanced reactors that meet the needs of countries lacking the technical expertise and institutional capacity to maintain, operate, and regulate traditional large reactors.
Nuclear energy faces financial challenges as most development banks exclude nuclear and hydropower projects from funding. Although nuclear reactors do not produce air-polluting gases or carbon dioxide, the mining, refining of uranium ore, and production of reactor fuel require significant energy. A primary environmental concern is radioactive waste, which has remained hazardous to human health for thousands of years. Furthermore, the high costs and long timeframes often associated with building new nuclear plants present obstacles to expansion in some countries.
Nuclear energy can enhance the resilience of global power systems. It is imperative to find solutions that optimise the costs and time required to build plants if it is to have a reliable future. This includes integrating digital solutions, using artificial intelligence, and adopting innovations and technologies such as small and medium-sized reactors with capacities not exceeding 300 megawatts and fourth-generation nuclear reactors. Lower capital costs, ensuring safety standards, effective waste management, reducing project risks, and maintaining grid flexibility could attract investment in nuclear energy, improving the nuclear production cycle.
Using nuclear energy for power generation diversifies energy sources, enhances energy security, and combats climate change by generating large, consistent amounts of electricity regardless of weather conditions. This also helps meet sustainability commitments by reducing carbon emissions. Consequently, operating more than 450 nuclear power plants in over 30 countries worldwide for electricity generation is proving insufficient. Many countries are either enhancing their existing capabilities or seeking to enter the nuclear energy market.
* The author is a Senior Researcher and the Head of Research & Advisory Sector at TRENDS Research & Advisory
