The International Energy Agency has published a new report examining opportunities for the nuclear power industry to address concerns related to energy security and climate change. The Path to a New Era for Nuclear Energy explores areas of policy, innovation, construction, and financing with an emphasis on investment-related issues regarding small modular reactors.

The IEA report describes encouraging developments taking place in the nuclear energy industry, such as increasing investment, technology advances, and supportive policies in many countries. But it also notes that certain key challenges need to be overcome if nuclear energy is to meet the needs of rising electricity demand, including demands from artificial intelligence and data centers. In addition to examining the present global status of nuclear power, the report evaluates the long-term outlook, quantifying expected capacity and investment through 2050.

The 2024 edition of Climate Change and Nuclear Power has been released by the International Atomic Energy Agency. The 99-page report focuses on the need for a significant increase in investment to achieve goals for expanding nuclear power.

The report: According to the IAEA, the report delves into the financing of nuclear projects as ambitious climate targets draw nearer. It also explores the imperative for financial frameworks to help nuclear energy become a cornerstone of global decarbonization efforts and highlights the challenges and best practices in financing nuclear projects.

Startup company Last Energy has announced power purchase agreements for 34 units of its 20-MWe nuclear power plants with four industrial partners in Poland and the United Kingdom. In total, according to the company, the deals represent more than $18.9 billion in electricity sales.

The prospects for new nuclear energy construction in the Western world is the subject of a recent The Economist article, “Energy security gives climate-friendly nuclear-power plants a new appeal.” The article also explores the difficulties that EDF Energy has been experiencing in constructing its EPRs in Europe.