Small modular nuclear reactors (SMRs) could play an important role in generating clean, affordable power. They promise faster construction than conventional nuclear plants at much lower cost, to provide electricity, heat and fresh water for cities and industries.
With global demand for electricity set to double by 2040, and climate change high on every government’s agenda, nuclear power is increasingly seen as a viable, low-carbon option to traditional fossil fuels.
Nuclear reactors currently provide approximately one-tenth of the world’s electricity, but, like gas- and coal-powered facilities, many are approaching the end of their lives. The overwhelming majority of current nuclear plants will need to be replaced by 2035-40, which presents governments with a huge financing challenge.
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