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Global nuclear capacity forecast to expand 280GW by 2050, Wood Mackenzie

A new report from Wood Mackenzie forecasts the world’s nuclear capacity will need to triple to 280GW by 2050, to meet global pledges consistent with a 2 °C warming pathway.

The challenge will be cost, but voters and legislation are increasingly supportive.

There are four key aspects that need specific focus according to Wood MacKenzie:

governments must lay the groundwork
the uranium supply chain must be expanded
developers need to refine their skillsets
strong offtake agreements

Wood Mackenzie global nuclear capacity base case and datasets - The Oregon Group - Critical Minerals and Energy Intelligence

“Nuclear should play a central role in decarbonization for many countries. Under our base case, nuclear capacity expands 280 GW by 2050. Under our Global Pledges Scenario, consistent with a 2 °C warming pathway, a tripling of nuclear capacity is required”
— Wood MacKenzie, The nuclear option: Making new nuclear power viable in the energy transition

Our own report believes we are entering a ten year bull market for uranium, essential to fuel the rapidly expanding global nuclear fleet. Find out more:

Uranium market at start of 10-year bull run

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