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Nuclear projects seen slowing after record 2024 output, report says

By Forrest Crellin, September 23, 2025, https://www.reuters.com/business/energy/nuclear-projects-seen-slowing-after-record-2024-output-report-says-2025-09-22/

PARIS, Sept 22 (Reuters) – A record level of global nuclear power production seen in 2024 will be hard to maintain in the coming years due to a lack of required investment, aging plants and project disruptions, the World Nuclear Industry Status Report said on Monday.

Nuclear power has experienced a revival in interest from various countries trying to phase out fossil fuels, with the United States recently pushing hard to make nuclear energy a policy focus and securing several, opens new tabagreements with other countries to boost production.

Global nuclear power generation reached a record in 2024 of 2,677 terawatt-hours after declining for two years, largely due to growth in China, data from the report showed.

However, to keep global nuclear output steady through 2030 the world would need 44 additional startups beyond those already scheduled, lifting annual startups to roughly two and a half times the past decade’s pace, the report said.

Risks around aging fleets, sluggish construction, accelerating system disruption from renewable energy, and China-centred development are expected to impact growth and lead to declines in regional electricity production shares, according to the report. It is an annual publication produced in collaboration by various research groups.

Competition from cheaper non-hydro renewables and battery storage is expected to have a broad impact, as investment in the renewables was 21 times that of nuclear last year, while added capacity was more than 100 times net nuclear additions, it said.

Battery costs are also falling, down about 40% in 2024, while nuclear plant costs continue to rise, the report said.

“Together these new technologies are evolving towards a highly flexible fully electrified energy system… outcompeting traditional centralized fossil and nuclear systems,” the report said.

Nuclear power projects around the world are being beset by delays. From 2020 to mid-2025, 44 of 45 global construction starts were by Chinese or Russian state firms in countries such as Egypt and Turkey.

There is no evidence of a vigorous global nuclear buildout and nuclear’s share of global power generation is likely to erode further from 9% in 2024 unless project delivery and economics improve markedly, the report said.

Small modular reactors also remain largely aspirational, as despite rising public and private funding, no Western SMR construction has begun. China is the exception, with two SMR designs in operation or build, though limited operational data are available.

September 24, 2025 - Posted by Christina Macpherson | Uncategorized