22 Countries, Including U.S., Pledge to Triple Nuclear Power Capacity

 Data from nuclear power analysts has shown that in countries with the most nuclear power capacity, many projects over the past several years have experienced delays and cost overruns.

Piercy added, "The Declaration to Triple Nuclear Energy also recognizes the key role of carbon-free nuclear energy in halting climate change-and calls on international financial institutions to craft nuclear-inclusive lending policies. A rapid, large-scale deployment of new reactors around the world can only happen with the end of financing bans against nuclear energy projects by multilateral banks like the World Bank." The U.S. Dept.

Of Energy in a statement said the agency "Recognizes the key role of nuclear energy in achieving global net-zero greenhouse gas emissions by 2050 and keeping the 1.5-degree goal within reach." Maria Korsnick, president and CEO of the Nuclear Energy Institute, the policy organization of the nuclear technologies industry, in an October speech said there is bipartisan support in Congress for nuclear power.

He said echoing statements from other energy analysts, that "You can't get to net-zero 2050 without some nuclear." Though nuclear power is carbon-free, opponents point to concerns about disposal of spent nuclear fuel-nuclear waste-and potential of accidents that could release radiation into areas near nuclear power plants.

Prime Minister Ulf Kristersson of Sweden, another country involved in the nuclear pledge, said the World Bank and other international financial institutions must help finance nuclear power projects.

The International Energy Agency has said China, which had installed nuclear generation capacity of 57 GW at the end of June 2023 according to government data, will become the leading producer of nuclear power by 2030.

The China Nuclear Energy Association last year said the country could add as many as 10 reactors annually over the next several years, and could have as much as 300 GW of nuclear power capacity online by 2035.

https://www.powermag.com/22-countries-including-u-s-pledge-to-triple-nuclear-power-capacity/