Amazon, Meta and Google to help triple global nuclear capacity by 2050

A consortium of major energy consumers, including Amazon, Meta✴ and Google, has set a goal of tripling the world’s nuclear capacity by 2050. Or at least helping it along. The signatories also include 14 of the world’s largest banks and other financial institutions, energy companies and heavy industry, The Register reports. There are currently 439 reactors in operation worldwide, with dozens more under construction.

The program was initiated by the World Nuclear Association (WNA). It is believed that this is the first time that companies outside the nuclear energy sector have publicly supported the scaling of nuclear power plants to meet their needs. The document emphasizes that significant energy demand is expected in many industries in the coming years, despite efforts to improve business efficiency. Just a few months ago, the situation was the opposite: IT giants were not averse to using nuclear power plants, but they were not going to invest in the construction of reactors.

It has been previously reported that global energy consumption is growing rapidly. This is due to the growing interest in resource-intensive AI systems, although electric vehicles, for example, also contribute. Not long ago, Goldman Sachs predicted that by the end of the decade, energy consumption in the data center sector is likely to more than double. The participants in the agreement note that it is nuclear energy that can provide stable round-the-clock supplies of carbon-free electricity. It is also emphasized that the strategy for sustainable economic growth should provide for an increase in the share of energy obtained from nuclear power plants. Governments are called upon to facilitate the deployment of nuclear capacity.

Image source: Lukáš Lehotský/unsplash.com

The new program aims to bring together governments, financial institutions and industrial consumers to triple nuclear generating capacity, a representative of the World Nuclear Association said. Public support is key to ensuring long-term solutions are implemented, he said. However, the longevity of such projects is in many ways a problem. Some IT giants, including Google and AWS, are already investing in small modular reactors (SMRs) to power their data centers. But they are not expected to be operational until after 2030.

The World Nuclear Association acknowledges that it usually takes at least five years to build a nuclear power plant, while natural gas power plants can be built in just two years. In fact, it takes even longer from the start of construction to the commissioning of a nuclear power plant. At the same time, nuclear energy is not entirely safe – just remember the disasters from Chernobyl to Three Mile Island and Fukushima. In addition, nuclear waste, including spent fuel, also poses a danger in the long term.

In any case, in the near term, electricity needs will likely be met primarily by a combination of renewable energy sources and fossil fuel plants. Last year, Schneider Electric concluded that data center operators would have to make up the energy deficit with on-site gas generators. In January, Siemens said there would still not be enough green power for all data centers, so electricity would have to come from other sources.