Nuclear Energy and the Future of Clean Energy: Insights from Mr. Grossi
In a session discussing the need for increased investments and challenges in financing nuclear newbuild projects, Mr. Grossi highlighted the technology sector as a potential new market for advanced nuclear technologies. The International Energy Agency predicts that electricity consumption from data centers, artificial intelligence, and cryptocurrencies currently accounts for 2% of global electricity consumption, but this may double by 2026.
Mr. Grossi emphasized that the nuclear industry and the IAEA are exploring the future of nuclear energy by engaging with AI and data center companies that are interested in nuclear as a tailored solution for their clean firm electricity supply needs. This approach aims to make nuclear energy fit for purpose in the evolving energy landscape.
The IAEA actively participated in side events at the World Energy Congress, collaborating with organizations like the Asian Development Bank and the China National Nuclear Corporation to discuss integrated energy planning, financing approaches for clean energy projects, and advancements in advanced reactor technologies. These events brought together industry experts and stakeholders to explore opportunities and challenges in the nuclear sector to help achieve net zero emissions by mid-century.
In one of the side events, Martijn Schut, Director for Nuclear Energy at the Ministry of Economic Affairs and Climate Policy in the Netherlands, emphasized his country’s commitment to expanding its nuclear reactor fleet alongside renewable energy sources. He highlighted how environmental sustainability and economic viability can be achieved through a comprehensive approach to nuclear and renewable energy development.
As Mr. Grossi notes, “Nuclear energy has a critical role to play in meeting our climate change goals while ensuring a reliable electricity supply.” By engaging with technology companies interested in advanced nuclear technologies, we can explore new opportunities for innovation and collaboration that will help us achieve a sustainable future.
Overall, it is clear that there is still much work to be done when it comes to financing newbuild projects in the nuclear sector. However, by collaborating with industry experts and stakeholders across different sectors, we can overcome these challenges and ensure that we continue to make progress towards achieving net zero emissions by mid-century.