Nuclear power is back in vogue. Government targets on net zero along with a desire for greater energy security after Russia’s invasion of Ukraine have led to a surge in new projects around the world in recent years.
But increasing nuclear energy capacity is not easy. Projects across the globe have been fraught with delays and budget overruns, with the Financial Times revealing last week that France is pressing the UK to help fill budget shortfalls at the Hinkley Point C project in England, being built by EDF.
The International Energy Agency (IEA) says nuclear projects starting between 2010 and 2020 are on average three years late, even as it forecasts nuclear power generation will hit a record high next year and will need to more than double by 2050.