Nuclear power hits record highs as industry eyes ambitious 2050 targets

Global nuclear generation reached unprecedented levels in 2024, whilst mounting pressure from data centres and climate commitments drives accelerated expansion plans

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THE global nuclear industry achieved a historic milestone in 2024, generating 2,667 terawatt-hours (TWh) of electricity, the highest annual output ever recorded and surpassing the previous 2006 record of 2,660 TWh.

This achievement comes as the sector confronts an unprecedented challenge of meeting surging electricity demand from artificial intelligence (AI), data centres, and electrification whilst simultaneously delivering on climate commitments to triple nuclear capacity by 2050.

The 66 TWh increase from 2023's generation marked a significant recovery, with France's return of reactors following extended outages contributing 40 TWh to the global total.

By year's end, 440 operable nuclear reactors worldwide commanded a total capacity of 398 gigawatt-electric (GWe), representing a 6 GWe increase over 2023.

GLOBAL CAPACITY & CONSTRUCTION ACTIVITY

Construction commenced on nine large pressurised water reactors during 2024, with China dominating new builds by initiating six projects.

Egypt, Pakistan, and Russia each started construction on one reactor, bringing the year-end total of units under construction to 62.

Seven reactors achieved grid connection in 2024, including units in China, France, India, the UAE, and the US.

Construction times varied dramatically, from China's Zhangzhou 1 Hualong One completing in just 61 months to France's Flamanville 3 EPR requiring 204 months from first concrete to grid connection.

The fleet maintained robust operational performance, achieving an average capacity factor of 83 per cent in 2024, up from 82 per cent in 2023.

Units are operating for 40 years and beyond demonstrating no overall age-related decline in capacity factors, a promising indicator for extended operation potential.

Asia drove regional generation growth, hosting five of the seven reactors connected during the year.