Nuclear Energy Gets Jump In Funding

Wendelin Jacober Pexels

The World Bank will resume funding nuclear power expansion after a decades-long moratorium, according to Semafor. To some extent, it is a reaction to the new expansion in the US and UK, as well as the existing rapid expansion in China.

Nuclear has also become critical to solving energy need problems that have emerged, in part due to a rise in demand from air conditioning and AI server farms. Wind and solar energy are unlikely to fill this gap and may not be able to do so for decades.

Among the things that have made nuclear energy more popular is the rise of small modular reactors. The IAEA says, “Small modular reactors (SMRs) are advanced nuclear reactors that have a power capacity of up to 300 MW(e) per unit, which is about one-third of the generating capacity of traditional nuclear power reactors.” Some parts can be manufactured in one part of the country and then transported to another for assembly and integration.

The World Bank has also acknowledged the challenges posed by both environmental concerns and advanced technologies to the reality of electricity demand. As the world gets hotter, air conditioning needs have risen and will continue to do so. 

AI server farms may use more electricity than any other sector in the world. The current level of demand could be dwarfed by the end of the decade.

World Bank funding could increase the number of nuclear energy facilities, particularly in regions other than China, the US, and the EU, which currently lack access to capital.

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