As COP29 kicked off November 11, industry advocates worldwide are hoping to draw attention and increase buy-in to the need for more nuclear capacity.

According to the World Nuclear Association’s newly released Nuclear Fuel Report: Global Scenarios for Demand and Supply Availability 2023–2040, there will be more of an increased demand than previously anticipated for nuclear fuel services and nuclear power capacity over the next several years. The report notes that the increased need for nuclear energy is associated with government efforts to decarbonize energy supplies and achieve energy security as well as growing interest in deploying new large nuclear reactors and small modular reactors (SMRs). The report is available to order now.

China is on track to overtake the United States in nuclear power capacity by 2026, according to GlobalData, a U.K.-based research and analytics company.

More than 160 GW of nuclear capacity will likely be added globally between 2020 and 2030, some 66 percent of which is anticipated to take place in China, India, and Russia, the company reported on September 9. China alone is set to account for more than 50 percent (83 GW) of the new capacity, followed by India with 8.9 percent (14.5 GW) and Russia with 6.4 percent (10.5 GW). GlobalData also projects that during the same period, more than 76 GW of nuclear capacity will be retired.