Global Nuclear Power Surges as Renewables Dominate Investment
The global nuclear power landscape has seen significant activity in recent years, with a surge in new reactor construction and increased generation. Meanwhile, renewable energy investments have soared, outpacing nuclear spending by a considerable margin.
As of now, there are 63 reactors totaling 60 GW under construction across 11 countries, with China leading the pack at 32 reactors. Notably, Sweden has initiated construction of new nuclear power plants with a €20 billion investment program. Russia is also actively building new reactors, planning 38 new units to boost its nuclear power share from 18% to 25%, including exports. Kazakhstan began a new nuclear power plant project with Rosatom and CNNC, aiming for 2.4 GWe capacity by 2035. In the USA, new large reactors and small modular reactors (SMRs) have started construction or planning, such as the Fermi America project in Texas.
In 2024, total investment in non-hydro renewable electricity capacity reached a record $728 billion, a staggering 21 times the reported global investment in nuclear news. Solar and wind power capacities grew by 32% and 11% respectively, adding 565 GW of combined new capacity. Between January 2024 and June 2025, eight reactors were activated and four were closed worldwide.
Despite the growth in renewables, nuclear power maintained a 9% share in the global electricity mix in 2024, its lowest value in four decades. However, global nuclear power generation increased by 2.9% year-on-year to 2,677 TWh, the highest output ever achieved by the world's nuclear power plant fleet. The operating age of nuclear plants increased to 32.4 years, with two-thirds operating for over 31 years. Only 23 of the 218 closed nuclear power plants have been fully decommissioned.
The nuclear power sector continues to evolve, with new reactors coming online and increased generation. However, the significant investment in renewable energy suggests a shift in the global energy landscape. As the world's nuclear fleet ages, the balance between nuclear and renewable news will be an ongoing topic of discussion.
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