Ingredients for a Nuclear Power Renaissance with Brookfield All-Star Panel

The Decarbonization Race

Nuclear energy is facing a marked uptick in private investment over the next five years, spurred by the escalating demand for clean energy and energy security. Both governments’ and the private sector's net-zero ambitions are driving significant interest in high-growth energy areas like nuclear energy. Further, according to the International Energy Agency, existing nuclear plants make up a large part of global energy production today - representing nearly 10% of global energy production and nearly 20% in advanced countries. The further growth of nuclear power is becoming critical to the decarbonization of the electricity grid and the growing market for emissions-free energy.

In this episode, host Lincoln Payton brings together a panel from investment giant Brookfield Corporation to explore the transformative role that nuclear energy plays in the pursuit of a net-zero future, particularly in the private sector investment landscape. Joining Lincoln for this episode are Pramod Shukla, Managing Director in Brookfield’s Private Equity Group; Sam Meyers, Senior Vice President at Brookfield Asset Management; and Mike Daschle, SVP of Sustainability for Brookfield Properties.

The discussion spans the intricate considerations around nuclear power investments, the ability of nuclear power to meet the world’s growing energy demands, and the role of companies like Westinghouse within the broader nuclear industry. A projected and insightful outlook on nuclear energy, Lincoln and the panel acknowledge its significance and the expected evolution of investments and deployments over the next five years.

Key Takeaways:

1. Clean power is on the rise: the world is turning to nuclear energy as a critical tool for decarbonization, as this clean energy source offers a vital solution for achieving net-zero emissions goals.

2. Gigawatt-scale giants lead the way: while smaller modular reactors (SMRs) hold immense potential for future deployments, their development remains in its early stages, meaning that larger, gigawatt-scale plants will likely dominate the energy landscape for the next decade.

3. Public sentiment shifting in favor: public opinion toward nuclear power is undergoing a positive shift with growth in bipartisan support in the USA coupled with the urgency of climate action and the need for clean energy solutions, all of which paint a promising picture for the future of nuclear power.

Resources:

• IAEA's revisions up of projected nuclear buildout by 2050: https://www.iaea.org/newscenter/pressreleases/iaea-annual-projections-rise-again-as-countries-turn-to-nuclear-for-energy-security-and-climate-action

• Energy Monitor on SMRs: https://www.energymonitor.ai/sectors/power/small-modular-reactors-smrs-what-is-taking-so-long/?cf-view

• Bipartisan support in the U.S. is up significantly compared to polling in 2020: https://www.pewresearch.org/short-reads/2023/08/18/growing-share-of-americans-favor-more-nuclear-power/sr_23-08-18_nuclear-energy_1/