BUILDING INDUSTRY TO TRIPLE CAPACITY | SUPPLY CHAIN global supply chain Mobilising the


The widely supported goal of tripling nuclear capacity by 2050 wholly depends on a massive ramp up in the global nuclear supply chain. With building capability and capacity a fundamental requirement, a new forum aims to help the industry realise the opportunities.


By King Lee, Head of Policy and Industry Engagement and Nathan Paterson, Senior Programme Lead – Supply Chain, World Nuclear Association


THE NUCLEAR INDUSTRY IS EXPERIENCING significant growth – governments and the private industries around the world are seeking clean, reliable, and economical energy solutions to meet climate and security goals alongside the ever-increasing demand for energy. The goal to triple global nuclear energy capacity by 2050, is supported by 31 countries, along with than 140 nuclear industry companies through an accompanying industry pledge. In New York Climate week 2024, fourteen of the world’s largest financial institutions supported this goal, and in 2025 at the CERAWeek conference, major companies including Google, Amazon, Meta, and Dow signed a large energy users pledge endorsing the same goal. Today there are 65 reactors under construction around the world. And there are well over 400 proposed reactor units at various degrees of project maturity and planning, totalling some 500 GWe, making a major contribution to achieving the tripling goal. Expansion of global nuclear capacity is being driven by


extensions to operating lifetimes and restarts of existing plants, increasing deployment of new reactors in many regions and accelerating development of new technologies,


including small modular reactors (SMRs) by governments and private companies. The utilisation of nuclear power for new applications is moving forward with innovation in the nuclear sector too. From big tech to manufacturing to aviation and maritime – energy users are looking for clean and reliable power sources to meet climate and energy security goals. However, to achieve a tripling of global nuclear capacity, a significant increase in the global nuclear supply chain capability and capacity is paramount. It cannot be emphasised enough that a well-functioning international nuclear supply chain will be required. The future of nuclear energy offers vast potential, with multiple avenues for growth. This growth presents unprecedented opportunities for the entire nuclear value chain. It is no surprise that some leading nuclear suppliers are already announcing their plans to expand their manufacturing facilities to be ready for the wave of projects that are on the horizon. There are examples of this with BWXT in Canada, announcing expansion of manufacturing plants to support global nuclear power market, while Holtec International in collaboration with Hyundai E&C are targeting 10 GW SMR fleet in the US.


North America Under construction: 2 Prospective: 48 Prospective investment: $202bn


Right: Reactor unit development prospects and investment to 2040 ($ billion), The World Nuclear Supply Chain 2023 Edition


Europe Under construction: 3 Prospective: 71 Prospective investment: $358bn


Central & South America Under construction: 2 Prospective: 9 Prospective investment: $61bn


Total


Under construction: 56 Prospective: 358 Prospective investment: $1807bn


Middle East Under construction: 4 Prospective: 15 Prospective investment: $131bn


Africa Under construction: 2 Prospective: 14 Prospective investment: $72bn


Asia Pacific Under construction: 36 Prospective: 172 Prospective investment: $799bn


Eurasia Under construction: 7 Prospective: 29 Prospective investment: $185bn


www.neimagazine.com | April 2025 | 41


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