The World Nuclear Exhibition (WNE), currently underway in Paris, is poised to be a pivotal event, showcasing a global resurgence in nuclear energy. According to Samyak Munot, Vice-President of the Indian Youth Nuclear Society (IYNS), this year's exhibition will highlight a "global nuclear renaissance," a firm commitment to fusion energy as a long-term solution, and the development of an integrated global supply chain for both fusion and nuclear energy.
The IYNS, a private youth forum, is representing India's nuclear advancements at the three-day WNE for the second consecutive time. The forum, which is not an official governmental body, has been instrumental in raising awareness among Indian youth about the country's nuclear program since its establishment in 2014. This year's presentation is expected to be more detailed than in 2023, with a focus on India's capabilities in advanced reactor technology, including its first micro nuclear reactor, SUK-M, developed in collaboration with Indian industries. A VIP event is also planned in conjunction with the Embassy of France in India, further strengthening Indo-French collaboration in nuclear and fusion start-ups, an area IYNS has been actively contributing to for the past two years.
The renewed interest in nuclear energy stems from several factors. The increasing global energy demand, coupled with growing concerns about climate change and dependence on fossil fuels, has led many countries to reconsider nuclear power as a viable option. Nuclear energy offers a carbon-free baseload power source, providing consistent electricity regardless of weather conditions, making it a crucial component of clean energy strategies. Climate scientists and environmental advocates are increasingly recognizing nuclear energy's essential role in combating climate change, particularly as many countries discover that renewable sources alone cannot provide sufficient reliable power to replace coal and natural gas completely.
This "nuclear renaissance" is reflected in policy shifts and investments worldwide. More than 60 reactors are currently under construction globally, with hundreds more in the planning stages. Governments are making significant commitments to expand nuclear capacity as part of their decarbonization strategies. Morgan Stanley Research estimates that global nuclear capacity could more than double to 860 gigawatts (GW) by 2050, from 398 GW currently, potentially driving investments in the nuclear value chain to $2.2 trillion in the next 25 years.
Several factors are driving this unprecedented growth in electricity consumption and, consequently, the demand for nuclear energy. The rise of Artificial Intelligence (AI) and data centers requires enormous amounts of reliable electricity, with major tech companies increasingly supporting nuclear power to meet these demands sustainably. The electrification of transportation is also creating substantial new electricity requirements that must be met with clean sources.
Furthermore, advances in nuclear technology are enhancing safety and efficiency. Digital twin technology, advanced materials, artificial intelligence, and modular construction techniques are optimizing reactor performance, extending lifespans, and reducing build times and costs. Small Modular Reactors (SMRs) are also gaining traction, offering enhanced safety, flexibility, and reduced construction risk.
China is currently leading the charge in this nuclear revival, with nearly 60 reactors in operation and another 29 under construction. The United States is also seeking to reinvigorate its nuclear sector, with ambitious targets to at least triple capacity. The World Bank has also lifted its long-standing ban on funding nuclear projects, joining forces with the International Atomic Energy Agency to help more countries integrate nuclear into their development strategies.
The World Nuclear Exhibition serves as a platform to connect suppliers and service providers across the nuclear sector, fostering collaboration and innovation in energy, medicine, agriculture, and space. As the global community gathers in Paris, the WNE is expected to be a catalyst for further advancements and partnerships, solidifying nuclear energy's role in a sustainable future.
