How Nuclear Energy is Evolving Worldwide

The headline that caught my eye this week was "A New Reckoning for Nuclear Energy." Here's my take: The nuclear energy narrative is experiencing a remarkable shift. For the first time since 1990, we've seen nuclear capacity additions in back-to-back years, and the Department of Energy is targeting a 60-fold increase in nuclear power over the next quarter century. But what's truly fascinating is how we got here. The story illustrates how quickly conventional wisdom can change when confronted with new realities. A decade ago, nuclear power was still largely viewed through the lens of past accidents and Cold War associations. Today, it's increasingly seen as a vital tool for decarbonization, with even Democrats endorsing it for the first time since 1972 and tech giants like Amazon, Google, and Microsoft making substantial investments. What's driving this shift? Two converging forces: the urgent need for carbon-free baseload power to address climate change, and the soaring power demands of AI and data centers. The latter is particularly intriguing — tech companies are now willing to pay above-market rates for reliable, clean nuclear power, creating a precedent we haven't seen before. I'd add a note of caution: the industry still needs to prove it can deliver on time and on budget. The climate crisis demands urgent action, but rushing nuclear deployment could risk repeating past mistakes. The door is open for nuclear power — the question is whether the industry can walk through it.

The nuclear energy landscape is undergoing a quiet but profound revolution. The latest OECD Nuclear Energy Agency (NEA) Small Modular Reactor (SMR) Dashboard, released on 23 July 2025, reveals that 127 distinct SMR designs are now being developed around the world — a sharp rise from 98 designs just a year ago. This surge signals not just a race to innovate, but a global recognition of SMRs as a cornerstone in future energy systems. This third edition of the Dashboard doesn’t merely count reactors — it maps a global ecosystem in motion. 51 designs are already in licensing or pre-licensing, and 85 conversations are underway between developers and site owners. These are not distant dreams; they are precursors to deployment, and in some cases, construction is already underway. Seven designs are operating or under construction, suggesting SMRs are no longer theoretical or confined to PowerPoint presentations. The NEA’s Director-General William D. Magwood, IV rightly points to the convergence of strategic drivers fueling this momentum: soaring electricity demand (spurred by data centers and AI), energy security concerns, and climate commitments. These are not regional challenges — they are global imperatives. And SMRs, with their scalability, enhanced safety, and versatility, are emerging as uniquely fit-for-purpose. Notably, private capital has taken notice. Over $5.4 billion in private investment is now backing SMR technologies, with heavyweights like Google, Amazon, Meta, and Dow Chemical entering the space. For a sector long plagued by financing challenges, this is a sea change — amplified further by the World Bank’s historic decision to consider funding nuclear projects, including SMRs. Fuel Supply: The Achilles’ Heel However, the report does not shy away from the hurdles. Over 30 SMR designs rely on HALEU (High-Assay Low-Enriched Uranium), yet more than half of them have not moved beyond preliminary supply agreements. Moreover, over 60% of SMRs under development plan to use fuel types not yet commercially available, including advanced forms like TRISO. These novel fuels offer enhanced safety and performance but require entirely new fabrication and licensing pathways — underscoring the urgent need for coordinated global action on fuel infrastructure. India’s Opportunity For countries like India, this moment presents both a challenge and an opportunity. With our vast need for clean, dispatchable power and industrial heat, SMRs could be game-changers for remote regions, industrial clusters, and urban microgrids. We have the engineering talent, the scientific institutions, and the manufacturing base. What we need now is political will, regulatory agility, and public engagement to seize the momentum. Nuclear for Climate Dr Jitendra Singh Nuclear Power Corporation of India Limited(NPCIL)-Official

Really enjoyed contributing to Financier Worldwide Magazine’s Q&A on Investment in Nuclear (April 2026, Special Report: Infrastructure & Project Finance). “Emerging technologies are reshaping nuclear investment, primarily through risk reduction, scalability and new delivery models.” Nuclear isn’t just moving forward—it’s moving differently--with some major shifts happening: (1) Demand is exploding. AI, data centers, and electrification all require always-on, firm power. Carbon free is an added bonus. Capacity isn’t keeping up, especially in already constrained markets. Nuclear delivers large-scale, reliable gigawatt-scale capacity for decades (60...80...100+ years). (2) The financing and development model is evolving. The most competitive first-of-a-kind projects still rely, in part, on government support—but as early projects are built and risk declines, capital broadens. Even now we're seeing offtakers, utilities, developers, and other stakeholders come together in unique ways. That’s the path forward for a number of these projects, and helps get you from FOAK to scalable, bankable Nth-of-a-kind infrastructure. (3) Technology has shifted, creating more options for offtakers. SMRs and advanced reactors are expanding the range of deployment models—smaller, more flexible, and better aligned with industrial users, data centers, and distributed demand. And, most importantly... (4) Execution will be the differentiator. Moving from FOAK to repeatable deployment is the entire game. No one is building just one reactor—this is about fleet deployment, driving down cost, timelines, and risk with each unit. And this is where everyone in the industry is laser focused. Nuclear isn’t just having a moment—this is the result of decades of pressure converging, including technology developments, decarbonization policies, geopolitics and conflict, and surging energy demand. Add new stakeholders, innovative financing and delivery models, regulatory reform, broad public-sector support, and the trajectory for nuclear looks stronger and stronger.

With 65 nuclear reactors currently under construction across 15 countries and nearly 90 more in the pipeline, the world is preparing for a future where clean, reliable, and high-availability energy isn’t optional—it’s essential. As AI data centers, electric vehicles, green hydrogen, and industrial reshoring ramp up demand, the pressure on grids is unprecedented. Nuclear is emerging not just as a clean energy alternative—but as a necessity for ensuring 24/7 uptime where outages aren’t just costly, they’re dangerous. But the path forward isn’t simple. As Joteep Mahato of Nagarro notes, factors like location, infrastructure, regulation, and public trust will define where and how fast this transformation unfolds. Innovations like modular construction and standardized designs are slashing build times, but public perception and regulatory hurdles still cast long shadows. What’s remarkable? AI itself may accelerate nuclear energy innovation—optimizing designs, improving safety, and streamlining approvals. The very technology that demands vast energy could become the key to making nuclear power safer, faster, and more scalable. The future of nuclear isn’t just about reactors. It’s about collaboration—between governments, tech giants, and research institutions—to ensure the energy we build today can power the breakthroughs of tomorrow.

⚡ More nations that once pulled back from nuclear power, or kept it minimal, are now reversing course. Pressed by urgent energy demands, tightening climate targets, and geopolitical uncertainties, countries like France, Japan, and South Korea are finding nuclear energy indispensable for reliable electricity and reduced fossil fuel dependence. The worldwide energy crunch has accelerated these decisions, making a once-controversial technology more attractive than ever. 🏗️ Take France, a longstanding nuclear heavyweight supplying around 70% of its electricity from reactors. It’s deploying six new EPR reactors and extending the lifespan of its existing fleet, backed by billions of euros in modernization funding. In Japan, the 2011 Fukushima disaster led to a major pullback, but the nation is now restarting reactors and planning next-generation facilities to meet its net-zero goals by 2050. Meanwhile, South Korea has flipped earlier phase-out plans and is now building new reactors, aiming to secure energy independence and bolster economic growth. 🌍 The shift isn’t limited to these three nations. Sweden, once poised for a full phase-out, now intends to keep current reactors running longer and may build additional units. Belgium, which had planned to exit nuclear altogether, is revisiting its policy to extend reactor lifespans amid rising energy concerns. In total, around 30 countries globally are considering, planning, or expanding their nuclear programs, reflecting a sweeping reevaluation of nuclear’s role in achieving climate and security objectives. 📈 According to the International Atomic Energy Agency (IAEA), the world could see nuclear capacity increase 2.5 times by 2050, while the demand for nuclear fuel is projected to surge by over 80% by 2040. More than 60 reactors are already under construction worldwide, and governments are streamlining approvals, channeling investment, and partnering with private firms to ensure rapid deployment. For many of these countries, nuclear is no longer a last-resort option; it’s fast becoming a cornerstone of strategic energy planning. 🔑 As the global community grapples with energy security and the urgent need to cut emissions, the renewed interest in nuclear, from nations that once hesitated, underscores its evolving status. Nuclear energy’s comeback story is still unfolding, but one thing is clear: it’s now central to the quest for a cleaner, more secure, and sustainable future. Picture: French President Emmanuel Macron and Japanese Prime Minister Fumio Kishida at the Hiroshima G7 summit. Sources: https://lnkd.in/dQt92xsU https://lnkd.in/dTjJY9mm https://lnkd.in/d3QGX2W5 #NuclearEnergy #EnergySecurity #CleanPower #SustainableFuture #Electricity #Innovation #ClimateAction #EnergyCrisis

In a new opinion piece in Boston Globe Media, Armond Cohen of Clean Air Task Force and I examine what it will take to meet the pledge made at COP28 to triple nuclear energy by 2050: https://lnkd.in/g9aXvc5T. To succeed, nations must rethink how to build, regulate, and finance nuclear technology. The world needs a new strategy for nuclear that furthers climate goals, enhances grid reliability, and ensures that achieving energy security doesn’t erode global security. Strong nonproliferation and security standards must be maintained to scale nuclear energy deployment. Nuclear can look to the aviation industry’s model, which certifies aircraft, subject to strict and uniform standards, across countries. It could also use an “orderbook” approach, common to aviation, to send a durable demand signal to the nuclear supply chain, pool resources, and unlock workforce development, thereby reducing risks and costs. Countries don’t need to wait to get started. A new system will need to deliver standardized products rather than costly and risky one-off multi-decade projects. It’s essential that the international community collectively reforms the system to enable success. #nuclearenergy #nuclear #COP28 #nonproliferation #energysecurity

Nuclear Power 🤯 Isn’t Just Energy—It’s Influence⚡️ As Africa weighs its nuclear energy future, let’s take a look at the global players exporting nuclear technology—and what’s really on the table. 1. Russia: The Global Front-Runner • Tech: VVER-1200 reactors • Model: BOOT/BOT (Russia builds, funds, operates, often owns) • Clients: Egypt, Turkey, Belarus, India, Bangladesh, multiple African nations • Edge: Full-package deals with state financing + construction + fuel supply + training • Catch: Long-term reliance on Russian infrastructure and servicing 2. China: Rising Power with State Muscle • Tech: Hualong One (HPR-1000) • Clients: Pakistan (Karachi reactors), Argentina (deal signed), Kenya (MOU) • Model: EPC or government-backed finance • Edge: Cheaper builds, rapid deployment • Catch: Political strings, debt concerns, tech still maturing globally 3. France: Legacy Exporter with Declining Share • Tech: EPR (European Pressurized Reactor) • Clients: Finland, UK, China (Taishan), India (deal signed but delayed) • Edge: Deep expertise, EU credibility • Catch: Overruns, delays, and loss of dominance to Russia/China 4. United States: Strong Tech, Weak Presence • Tech: AP1000, SMRs (Small Modular Reactors) • Clients: Poland (pending), Ukraine (expanding), South Korea (Westinghouse partnership) • Model: Private sector–driven, lacks state financing • Edge: Advanced innovation, especially in SMRs • Catch: Slow exports, no real footprint in Africa ⸻ Africa’s Energy Question Isn’t Just ‘Nuclear or Not’ It’s: • Who builds it? • Who controls the fuel? • Who profits long-term? • And who sticks around when it breaks down? ⸻ The continent has 600 million people without electricity. Nuclear can be part of the solution. But when you’re picking a partner in a 60-year commitment, you’re not just buying a power plant— You’re choosing your energy future. #NuclearEnergy #AfricaPower #RussiaChinaUSFrance #EnergySovereignty #Geopolitics #InfrastructureDeals #SMRs #BOOT #AfricaDevelopment

Nuclear power anchors global energy security with 416 operational reactors, fueling #AI data centers and electrification. Investments in new builds, small modular reactors (SMRs), and power purchase agreements (PPAs) surge amid net-zero goals and geopolitical tensions. The #UnitedStates leads with 94 reactors, followed by #China (58) and #France (57). #Russia (36) and #Japan (33) round out the top five. #South Korea (26), #India (24), #Canada (17), #Ukraine (15), and the #UnitedKingdom (9) complete the global top ten. In addition to the countries leading nuclear development, we must also highlight the power dynamics that are emerging due to tech giants building their own nuclear power “arsenals”, influencing energy policy, supply chains, security and ultimately diplomacy. This can lead to an erosion of state sovereignty and a reshaping of regional alliances. Tech giants, driven by AI energy demands, have invested over $10B in 2025, focusing on SMRs and PPAs. Microsoft: Invested $1B+, including a 20-year PPA with Constellation to restart Three Mile Island (835 MW) and SMRs for data centers. Economic impact: Cuts AI costs by 20%. Trade/supply chain: Bolsters U.S. manufacturing. Geopolitical and power dynamics: Microsoft’s reactor could push corporate priorities in U.S. policy and resilience against China, risking national security overreach. Amazon: Committed $500M+ to SMRs with Talen Energy, targeting 5 GW by 2039 for AWS. Economic impact: Creates 1,000+ jobs. Trade/supply chain: Secures U.S. uranium. Geopolitical and power dynamics: Amazon’s build-own model could undermine government authority, pressuring deregulation and shifting power to Silicon Valley, escalating tensions with energy exporters. Google (Alphabet): Signed first PPA for Kairos Power SMRs (500 MW by 2035), partnered with TVA. Economic impact: Saves billions for AI. Trade/supply chain: Funds salt-cooled tech, reducing Russian reliance. Geopolitical and power dynamics: Google’s global nuclear push could force policy alignments and intensify tech-energy rivalries. Meta Facebook Has Secured a 20-year PPA with Constellation for the Clinton plant, supporting the tripling of nuclear capacity by 2050. Economic impact: Powers metaverse/AI growth. Trade/supply chain: Eases U.S. grid strain. Geopolitical and power dynamics: Meta’s lobbying efforts advocate for deregulation, positioning corporations as equals in global forums and influencing data sovereignty. Oracle: Plans 1 GW+ in SMRs for AI cloud. Economic impact: Boosts cloud efficiency. Trade/supply chain: Fosters reactor ecosystems. Geopolitical and power dynamics: Oracle’s autonomy could compel governments to accommodate tech, risking fragmented policies and amplifying U.S. data dominance. #risk #governance #strategy #investment #economy #trade #supplychain #security #defense #future #politics #diplomacy #sustainability #energy

Why is Big Tech embracing #nuclearpower? Because reliability isn’t optional. In the past two months, every major name in tech has announced a deal to invest in or purchase nuclear power. That shouldn’t be surprising. Hyperscalers require massive amounts of #energy, and they need it to be there 24/7. According to the U.S. Department of Energy, the nuclear fleet has an average capacity factor of 93 percent. Nothing comes close to matching that level of reliability. Big Tech also wants the power it buys to be clean, and many companies have signed agreements to buy renewable energy. Impressive as those deals have been, they won’t be enough to meet soaring demand, and they can’t provide power to #datacenters around the clock. Reliability is winning the day over all other factors. Consider that Goldman Sachs projects data centers will increase U.S. demand for natural gas by 3 billion cubic feet per day. That’s enough to be a top 10 natural gas consuming state. GE Vernova recently said even if it had zero new orders for its gas turbines over the next ten years, they’d still be sold out from data centers. That should tell you the scale of demand and the need for reliability — even if it involves accepting more emissions, at least in the short term. Enter nuclear power, which isn’t just baseload power but also zero-emission. Power when you need it with no pollution? That’s a no brainer. Around the world, countries are focused on building more reliable energy. Nuclear is one of the big winners. There are 67 reactors currently under construction across three continents. China is building new reactors so fast it could overtake the United States as the world’s largest producer of nuclear power by the end of this decade. After the 2011 tsunami that damaged the nuclear facilities at Fukushima, the Japanese government pledged a future without nuclear. Last month, Japan announced it would be restarting one of the nearby reactors. Chief Cabinet Secretary Yoshimasa Hayashi said nuclear is an “important power source” and Japan “will maximize its use while ensuring safety.” There are those who suggest we can meet rising energy demand with things like demand response, battery storage, and “virtual power plants.” The fact that some of the world’s largest corporations are investing in those solutions but also determining they won’t be enough — and spurring a renaissance in nuclear — is more proof that nothing can replace reliable, baseload power.

Build or Stall: Why Nuclear Winners Look Very Different From Nuclear Talkers Energy transitions do not fail because of bad intentions. They fail because of weak execution. South Korea’s recent approval of a floating nuclear power platform built around the SMART100 reactor is a reminder of what functional engineering ecosystems still look like. Samsung Heavy Industries secured approval in principle for a floating offshore SMR platform designed to host multiple reactor types. This is not a concept deck. It is an engineered, regulated, and industrially integrated system. SMART100 itself is derived from the original SMART reactor, the first SMR to receive standard design approval in 2012. In 2024, it cleared full standard design approval again, completing a regulatory cycle many countries have not managed once. The structure matters. Samsung handled integration, nuclear systems, floating design, and multi-barrier containment. KAERI adapted the land-based reactor for offshore use. Research, regulation, and heavy industry moved in sequence. No paralysis. No endless resets. Floating SMRs unlock practical use cases: • Baseload power for coastal and island grids • Desalination at scale • Low-carbon hydrogen • Power for ports, shipyards, and industrial zones • Rapid deployment without land acquisition battles This is not ideology. It is engineering. The global contrast is sharp. The United States remains the world leader in nuclear energy. It dominates advanced reactor R&D, fuel cycles, and is actively modernizing its regulatory framework. No country matches the depth or breadth of US nuclear capability. Europe tells a different story. Nuclear capacity was shut down before replacements existed, damaging energy security and industrial competitiveness. France is a special case. French nuclear engineers are exceptionally skilled. Among the best anywhere. The issue is not competence but process. French projects often get trapped in an endless loop of optimization and refinement. Designs are improved, revisited, perfected, and improved again. Completion keeps moving. As a result, French nuclear projects frequently take two to three times longer than planned. Brilliant engineering, late delivery. Argentina is another overlooked example. Rarely mentioned, yet Argentine nuclear engineers are everywhere, embedded across global nuclear companies in senior roles. Argentina has preserved deep technical expertise despite economic instability. The limitation has never been talent. It has been capital and political continuity. The lesson is simple. Energy leadership does not belong to the smartest slide decks. It belongs to systems that can finish. Countries that retain the ability to build complex infrastructure keep strategic power. Countries that lose it become dependent, no matter how advanced their rhetoric sounds. Floating nuclear power will not save the world on its own. But it clearly shows who can still turn physics into infrastructure.