Advancing Nuclear Energy through Advanced Technologies: Exploring New Markets and Collaborating with Industry Stakeholders

At a session discussing the challenges of financing nuclear newbuild projects, Mr. Grossi emphasized the importance of exploring new markets for advanced nuclear technologies. The International Energy Agency predicts that electricity consumption from data centers, artificial intelligence, and cryptocurrencies will double to 4% of global electricity consumption by 2026.

Mr. Grossi highlighted the technology sector as a potential new market for nuclear energy, particularly in the development of clean firm electricity supply needs. The nuclear industry and IAEA are collaborating with AI and data center companies to explore this approach further and make nuclear energy fit for purpose in the evolving energy landscape.

During the World Energy Congress, the IAEA actively participated in side events alongside organizations like the Asian Development Bank and China National Nuclear Corporation. These events brought together industry experts and stakeholders to discuss integrated energy planning, financing approaches for clean energy projects, and advancements in advanced reactor technologies.

In one of these side events, Martijn Schut from the Netherlands emphasized his country’s commitment to expanding its nuclear reactor fleet while also pursuing renewable energy sources. He emphasized that this approach is crucial for achieving environmental sustainability and economic viability through a comprehensive approach to nuclear and renewable energy development.

Overall, it is clear that the future of nuclear energy is intertwined with advanced technologies such as AI and data centers. As such, it is important for industry leaders to explore new markets and collaborate with stakeholders to ensure that nuclear energy remains a viable solution for meeting our clean firm electricity supply needs while working towards net-zero emissions by mid-century.