IAEA projects global nuclear capacity could triple by 2060

The International Atomic Energy Agency (IAEA) has significantly increased its long-term nuclear energy projections for the first time in years. The agency now predicts that global nuclear capacity could triple by 2060, potentially reaching over 1,100 gigawatts from a current baseline of approximately 370 gigawatts.

This projected growth is expected to be driven by small modular reactors (SMRs) rather than the large-scale, third-generation reactors that have historically faced significant cost overruns and decade-long construction timelines. SMRs, which produce up to 300 megawatts per module, offer the promise of shorter construction periods and scalable investment.

IAEA Director General Rafael Mariano Grossi expressed optimism regarding the peaceful uses of nuclear energy, noting a shift in global sentiment. He highlighted that both established nuclear powers and developing nations are increasingly looking toward nuclear power to meet growing electricity demands, particularly those driven by the expansion of artificial intelligence.