Call it a Comeback: Nuclear Capacity Poised for Global Growth

Core Insights - The International Energy Agency's (IEA) World Energy Outlook (WEO) indicates a global resurgence of nuclear power, with significant growth projected in the coming years [2][12]. Nuclear Capacity Growth - Over 40 countries are incorporating nuclear power into their energy strategies, with 31 countries committing to triple their nuclear capacity by 2050 [3][11]. - More than 70 gigawatts (GW) of new nuclear capacity is currently under construction, with approximately half of this capacity being developed in China, marking one of the highest levels of activity in three decades [4][11]. - The IEA forecasts a minimum increase of one-third in nuclear capacity by 2035, a notable shift after 25 years of relatively flat operable nuclear reactors globally [5][11]. Small Modular Reactors (SMRs) - The IEA reports that technology companies have expressed interest in developing 30 GW of SMRs, primarily for data centers, with over 120 SMRs currently under development worldwide [6][11]. - GE Vernova is constructing the first SMR in North America, with four units of the GE Vernova Hitachi BWRX-300 being built at the Darlington site, on schedule and within budget [7][11]. - The Tennessee Valley Authority (TVA) has received a $400 million grant for its Clinch River project, which will utilize the BWRX-300 technology [8]. Investment Opportunities - The WEO suggests that nuclear power could be a valuable addition to investment portfolios, given the multi-year growth outlook [9][12]. - The Range Nuclear Renaissance Index (NUKZX) offers diversified exposure to nuclear energy across various categories, minimizing exposure to the historically volatile uranium mining sector [10].