DEAL MARKET ANALYSIS | SPECIAL REPORT
Nuclear deals revealed
A new analysis of global financial deals reveals a growing market for nuclear technology with a strong undercurrent of drivers pushing the industry forward.
NUCLEAR POWER IS PROJECTED TO reach 494 GW of capacity and generate 3,410 TWh of electricity by 2035, reflecting strong growth in advanced reactor deployment and new market entrants. This is the conclusion of a new analysis from NEI parent group GlobalData Ltd in its latest nuclear deals report. Their research notes that while nuclear remains a cornerstone of global electricity generation, supporting energy security, decarbonisation, and emerging energy demands from data centres and AI infrastructure, global nuclear capacity grew by just 1.8% in 2024, reaching 395 GW. Nonetheless, nuclear generated approximately 2,616 TWh of electricity, a 3.2% rise compared with 2023. The increase was driven by new reactor deployments, life extensions, and investments in next-generation nuclear technologies. While the report points out that the US remains the
world’s largest producer of nuclear power, with 97 GW of installed capacity generating 787.6 TWh in 2024, China, with the youngest and fastest-growing nuclear fleet, has already surpassed France in terms of nuclear generation having expanded its capacity to 56 GW and producing 386.1 TWh. At 61.4 GW, France has a larger nuclear installed capacity then China but generated slightly less at 333.3 TWh over 2024. Furthermore, with over 20 reactors under construction, China is expected to further solidify its position as a global leader in the nuclear sector. Collectively, some 100 nuclear reactors are planned or under construction across key
markets with China responsible for a fifth, but also India, the UK and others executing nuclear expansion plans. Meanwhile, other nations with substantial nuclear fleets, including France and Canada, are actively pursuing reactor life extension programmes. There is also a strong focus on small modular reactors
(SMRs) and new hydrogen production. Indeed, the report authors argue that the decade
ahead will see rapid advancements in reactor technology, greater reliance on HALEU-fuelled designs, and increased government and private-sector commitments to nuclear energy. In particular, the analysis identifies energy security, climate commitments, and technological advancements as drivers behind a nuclear resurgence. The role of nuclear energy is also expanding beyond electricity production, with increasing applications in hydrogen production, industrial decarbonization, and process heat supply. Highlighting several national nuclear power programmes
from existing and established nuclear players, the report also identifies several nuclear newcomers as well as a resurgence in some nations which had previously indicated a retreat from atomic energy. The report highlights France, for example, which has reversed previous plans to scale down its nuclear sector and is instead investing in extending reactor lifespans and building new EPR2 reactors. Meanwhile, newcomers Turkey and Bangladesh are set to enter the nuclear fold. Nuclear energy is also gaining
Above: The resurgence of interest in nuclear is increasingly being reflected in the growth of companies and governments actively securing funding
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