The International Atomic Energy Agency (IAEA) forecasts a significant increase in global nuclear power capacity by 2050, with capacity potentially growing by 2.5 times current levels, according to its Energy, Electricity and Nuclear Power Estimates for The Period Up To 2050 report released on Monday (16 September).

The report found two scenarios for nuclear power growth. In the high case, global nuclear capacity is projected to rise from 372 GW in 2023 to 950 GW by 2050 (2.5 times), largely driven by expanding climate goals and energy security demands. In the low case, capacity would increase more modestly by 40% to 514 GW over the same period.

Small modular reactors (SMRs) are expected to play a role in future capacity expansion, potentially accounting for up to 24% of new nuclear capacity by 2050, the IAEA report said.