IEA: Global Nuclear Power Capacity Must Double By 2050 To Reach Net-Zero Emissions

Global nuclear power capacity needs to double by the mid-century to reach net-zero emissions targets. This will help ensure energy security as governments try to reduce their reliance on imported fossil fuels, the International Energy Agency (IEA) said on Thursday. Euronews reports: Achieving net-zero emissions by 2050 would give the world a chance of capping temperature rises at 1.5 degrees Celsius above pre-industrial levels. To reach net-zero emissions, nuclear power capacity needs to double to 812 gigawatts (GW) by 2050 from 413 GW early this year, the IEA report specifies. In the 2030s, annual nuclear power capacity will have to reach 27 GW, it added.

As around 260 GW, or 63 percent, of nuclear plants in the world are currently over 30 years old and nearing the end of their initial operation licenses. Although there have been moves in the past three years to extend the lifetimes of plants representing around 10 per cent of the global fleet, nuclear plants in advanced economies could shrink by a third by 2030, the report said. Advanced economies have nearly 70 per cent of global nuclear capacity -- but the problem is the fleet is aging. Investment has stalled and the latest new projects have run far over budget and behind schedule, the report said.

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