Mr. Grossi highlighted the technology sector as a potential new market for advanced nuclear technologies during a session discussing the need for increased investments and challenges in financing nuclear newbuild projects. The International Energy Agency predicts that electricity consumption from data centers, artificial intelligence, and cryptocurrencies currently accounts for 2% of global electricity consumption, but this may double by 2026.
The nuclear industry and the IAEA are exploring the future of nuclear energy by engaging with AI and data center companies that are interested in nuclear as a tailored solution for their clean firm electricity supply needs. This approach aims to make nuclear energy fit for purpose in the evolving energy landscape.
The IAEA actively participated in side events at the World Energy Congress, collaborating with organizations like the Asian Development Bank and the 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 to help achieve net zero emissions by mid-century.
In one of the side events, the Netherlands highlighted 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 the country’s dedication to environmental sustainability and economic viability through a comprehensive approach to nuclear and renewable energy development.