China and Russia Lead Global Nuclear Power Expansion

Global nuclear power capacity has reached a record high. China and Russia spearheaded the increase, with 436 reactors and 416 gigawatts of power. China constructed 39 reactors over the past decade, quadrupling its capacity. Russia has now matched Japan's reactor count and has plans for further expansion.

Nuclear power is gaining momentum as a zero-emission energy source. At COP28, 22 countries set a goal to achieve 1,200 GW of nuclear capacity by 2050. However, challenges persist in supply chains and technology.

China and Russia have made significant advancements in nuclear technology post-Fukushima. China launched the world's first commercial small modular reactor (SMR). Russia leads in uranium enrichment and has pioneered a floating nuclear plant.

Western governments are now supporting nuclear development, reversing previous private sector emphasis. France has renationalized EDF to focus on reactor construction. The U.S. provides tax credits and funding to prevent plant closures.

The resurgence of nuclear power underscores its stability and necessity in a carbon-conscious world. Nonetheless, supply chain issues and high costs continue to pose challenges, necessitating government intervention and innovation.