The International Energy Agency (IEA) gathered about 80 experts from around the world at its headquarters in Paris today for a conference focused on expanding the role of nuclear power in secure and affordable energy transitions.
Prominent stakeholders from government, industry, the financial sector, international organisations and academia discussed major hurdles and potential ways to address them, emphasising the importance of nuclear power in bolstering energy security and tackling climate change.
IEA Executive Director Fatih Birol chaired the session on how public-private cooperation can enhance nuclear power, while IEA Director of Energy Markets and Security Keisuke Sadamori delivered the opening and closing remarks.
Since the global energy crisis sparked by Russia's full-scale invasion of Ukraine, countries have shown renewed interest in nuclear power - an important source of stable electricity supply that also plays a vital role in the IEA's pathway for achieving net zero emissions from the global energy sector by mid-century. Twenty-five countries have now pledged to work towards tripling global nuclear power capacity by 2050.
However, investment is not keeping up with ambition, as real and perceived cost, policy and construction risks restrain growth in the sector. Nuclear power also faces tough market competition, and developing and implementing innovative technologies that could accelerate growth will be crucial.
Conference participants discussed these impediments as well as possible solutions, including mechanisms for managing and reducing project risks. Their insights will serve as a key input to a report the IEA is preparing on this topic scheduled for early 2025.
