into the sector over the coming decade, and private investment in nuclear energy is surging.
This change in sentiment coincides with rapid technological advances. The development of smaller and safer reactors has made nuclear power. Whereas the construction of traditional nuclear power plants has historically been a major national undertaking, with costs frequently running into the dozens of billions of dollars, so-called small modular reactors allow for a more tailored approach and more manageable financing packages.
This is particularly important for developing countries, which must figure out how to expand their power supply while curtailing greenhouse-gas emissions as they become increasingly industrialised and urbanised. The International Energy Agency estimates that demand for energy in Africa willby the end of the decade, owing to population and income growth, as well as improved access.
While increased MDB support for renewable energy has helped put developing economies on the path toward carbon neutrality, most countries still rely on coal-fired power plants and natural gas for baseload electricity production. To complete the shift away from fossil fuels, governments must complement wind and solar energy with low-carbon sources that are not dependent on weather conditions.But without nuclear power , governments will find it difficult to replace their fossil-fuel baseload.