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Asia to lead nuclear boom with 103 new reactors by 2025

Around 103 new nuclear reactors will be built in the Asia-Pacific by 2025, which will cement the region’s dominace in the global nuclear market, according to a report published today.

The study from research firm GlobalData identifies China and India as the nuclear powerhouses in the region, stating that between them they will account for more than 60 per cent of the reactors planned to come online worldwide by 2025.

GlobalData calculated that the nuclear installed capacity in the Asia-Pacific rose from 67 GW in 2000 to 88 GW last year, and it predicts that it will rise to 187 GW by 2025.

Among the emerging nuclear countries, the report finds that Turkey is expected to install the greatest nuclear power capacity by 2025, with six large reactors planned. Vietnam also intends to build six reactors, although these will be smaller than those in Turkey.

The study states that other regions will also see an increase in installations, with 88 reactors in Europe, 24 in North America, eight in the Middle East and Africa, and three in South and Central America by 2025.

Pranay Srivastava, GlobalData’s associate power analyst, said the key global drivers of nuclear energy are “burgeoning power demand, increasing fossil fuel prices, the need to mitigate greenhouse gas emissions and the low cost of electricity generation that is associated with nuclear”.

“However, the global nuclear power industry is facing a major challenge in funding. New government policy changes, which are backed by a fear of radiation and anti-nuclear public opinion, have caused uncertain market conditions, whereby investment in nuclear projects is deemed increasingly risky.”