In a session that touched on the need for increased investments and the challenges in financing nuclear newbuild projects, Mr Grossi cited the technology sector as a potential new market for advanced nuclear technologies. According to the International Energy Agency, electricity consumption from data centres, artificial intelligence (AI) and cryptocurrencies account for 2% of global electricity consumption, but may double by 2026.  

“The nuclear industry and the IAEA are taking a prospective look at the future of nuclear energy, for example talking to AI and data centre companies that are considering nuclear as a tailor-made solution for their clean firm electricity supply needs,” Mr Grossi said. “Nuclear fit for purpose, in other words.” 

The IAEA also took an active role in side events at the World Energy Congress. This included a session organized by the Asian Development Bank that examined the role of integrated energy planning and financing approaches for clean energy projects Asia and the Pacific, and an event on advanced reactor developments organized by the China National Nuclear Corporation. 

The IAEA also organized a side event with speakers from the Directorate for Nuclear Energy in the Ministry of Economic Affairs and Climate Policy of the Netherlands, the Electric Power Research Institute, the United Nations Economic Commission for Europe and the World Nuclear Association. The event focused on the opportunities and challenges that the sector will face in the coming years as the push to reach net zero by mid-century accelerates. 

Amid emerging energy challenges, the Netherlands intends to expand its existing nuclear reactor fleet. “Our commitment to advancing both nuclear and renewable energy highlights our comprehensive approach to achieving environmental sustainability and economic viability,” said Martijn Schut, Director for Nuclear Energy at the Netherlands’ Ministry of Economic Affairs and Climate Policy, at the event.