Tripling nuclear energy capacity by 2050, which would also help Europe reduce its dependence on Russia oil and gas, would require significant investment.
In advanced economies, which have nearly 70 percent of global nuclear capacity, investments has stalled as construction costs have soared, projects have run over budget and faced delays.
On top of cost, another hurdle to expanding nuclear capacity is that plants are slower to build than many other forms of power.
President Emmanuel Macron of France said nuclear energy, including small modular reactors, was an “indispensable solution” to efforts to curb climate change.
France, Europe’s biggest producer of nuclear power, gets about 70 percent of its own electricity from nuclear stations.
Persons:
John Kerry, Biden’s, ”, Emmanuel Macron, Macron, Ulf Kristersson, Kristersson
Organizations:
International Energy Agency, World Bank
Locations:
Russia, France, Sweden