Trillions needed for global nuclear capacity expansion: Bain

This is the funding needed to increase capacity to 1,200GW.

Trillions of dollars worth of investment are needed to increase global nuclear capacity to 1,200 gigawatts (GW), Bain & Company estimated.

This is triple the current installed capacity of more than 400GW from existing nuclear plants.

“Advocates see nuclear energy as a crucial part of solving the global energy crisis, achieving net-zero emissions worldwide, and enabling the replacement of aging fleets of baseload and dispatchable power sources such as coal, gas, and older generations of nuclear technology,” the report read in part.

At present, the nuclear plants generate about 10% of global electricity. However, nuclear power facilities are aging, particularly in advanced economies.

Europe, North America, and other OECD countries account for almost 70% of nuclear energy capacity. These countries also happen to have the oldest fleets.