Unleashing Nuclear Energy’s Potential in the Digital Age: IEA Explores New Opportunities for Financing and Partnership

At a recent session discussing the challenges and opportunities for financing new nuclear projects, Mr. Grossi highlighted the technology sector as a potential new market for advanced nuclear technologies. The International Energy Agency predicts that electricity consumption from data centers, artificial intelligence, and cryptocurrencies currently accounts for just 2% of global electricity consumption but is expected to double by 2026.

The IAEA is working with companies in the AI and data center industries to explore the future of nuclear energy as a tailored solution for their clean energy needs. This approach aims to make nuclear energy fit for purpose in an evolving energy landscape.

During the World Energy Congress, the IAEA collaborated with organizations like the Asian Development Bank and China National Nuclear Corporation to discuss integrated energy planning, financing approaches for clean energy projects, and advancements in advanced reactor technologies. These events brought together industry experts and stakeholders to explore opportunities and challenges in the nuclear sector as part of efforts to achieve net zero emissions by mid-century.

One of these side events saw the Netherlands announce its commitment to expanding its nuclear reactor fleet alongside renewable energy sources. Martijn Schut, Director for Nuclear Energy at the Ministry of Economic Affairs and Climate Policy in the Netherlands, emphasized his country’s dedication to environmental sustainability and economic viability through a comprehensive approach to nuclear and renewable energy development.