Nigerian Tribune
Summary
On Wednesday, the New Nuclear Watch Institute (NNWI) in London released a report on the Small Modular Reactor (SMR) market. Titled “Scaling Success: Navigating the Future of Small Modular Reactors in Competitive Global Low Carbon Energy Markets,” it positions SMRs as essential for mid-century net-zero goals. The report underscores the critical role of SMR deployment speed in enhancing the nuclear sector’s global competitiveness and achieving net-zero targets.
To meet the 1.5°C global warming limit, it’s estimated that nuclear capacity needs to triple from the current 370 GWe to around 1,000 GWe by 2050, replacing fossil fuel-fired plants as a source of dispatchable power generation. While large nuclear plants with conventional gigawatt-size reactors will account for the bulk of capacity additions, SMRs (Small Modular Reactors) are uniquely suited for smaller, decentralized grids, remote areas with limited renewable energy potential, and applications like district heating, seawater desalination, and industrial heat supply, offering, at least at present,the only practically viable decarbonisation solution.
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