Last week several major companies including tech giants Amazon, Google, and Meta, gave their support to a new pledge to triple nuclear capacity by 2050. Announced at S&P Global’s annual energy conference CERAWeek, which was held in Houston, Texas[i], the pledge marks the first time that major businesses beyond the nuclear sector have come together to publicly back such a target.
In a press release, the World Nuclear Association said that founding signatories of the Large Energy Users Pledge at CERAWeek also include Dow, Occidental, Allseas, OSGE, and IHI, they state that the commitment is expected to gain more support over the coming months.
Sama Bilbao y Leon, Director General of World Nuclear Association, wrote: "The unprecedented support announced today by some of the world's most influential companies to at least triple global nuclear capacity by 2050 sends a clear signal to accelerate policy, finance and regulatory changes that enable the rapid expansion of nuclear power. The global shift towards more nuclear highlights this is the only way we'll deliver the abundant firm clean energy required to power growth and innovation in technology, a host of other industries and the entire economy."[ii]
The announcement is another sign that Big Tech is switching towards nuclear, as it grapples with soaring energy demands driven by AI and data centre usage, alongside growing fears over water use, with many data centres using fresh water to keep servers and equipment cool. Data from BloombergNEF suggests that the amount of renewable electricity sold to companies under long-term power purchase agreements rose 35% last year, with the biggest increases stemming from the US[iii]. Here the tech industry was found to be the largest buyer as it grapples with rising power demand for data centres.
On the CERAWeek Pledge, Lucia Tian, Head of Clean Energy & Decarbonization Technologies at Google, said: "We are proud to sign a pledge in support of tripling nuclear capacity by 2050, as nuclear power will be pivotal in building a reliable, secure, and sustainable energy future”[iv]. She added that Google will continue to work with their partners to accelerate the commercialisation of advanced nuclear technologies which can provide the around-the-clock clean energy necessary to meet growing electricity demand globally.
Brandon Oyer, Head of Americas Energy and Water for Amazon Web Services stated that: "Accelerating nuclear energy development will be critical to strengthening our nation's security, meeting future energy demands, and addressing climate change. Amazon supports the World Nuclear Association's pledge and is proud to have invested more than $1 billion over the last year in nuclear energy projects and technologies, which is part of our broader Climate Pledge commitment to be net-zero carbon by 2040”[v]. Notably, in 2024 Amazon purchased a data centre site next to the Susquehanna nuclear power plant in Pennsylvania, with the aim of using part of the plants energy generation to meet its electricity requirements.
Whilst key AI developer and tech giant Microsoft was not a signatory of the CERAWeek Pledge, the organisation has been a notable advocate for nuclear. Last year the company announced a major new deal to reopen a closed reactor at the Three Mile Island nuclear plant. The facility situated in Londonderry, Pennsylvania is currently owned by Constellation, who announced a 20-year Power Purchase Agreement (PPA) with Microsoft. The reactor, known as TMI Unit 1, was shuttered in 2019 for ‘economic reasons’ and the planned restart could see 835 megawatts of carbon-free energy added to the grid, as well as the creation of 3,400 direct and indirect jobs, alongside generation of an estimated $3 billion in state and federal taxes[vi]. Should Microsoft’s plans see approval, the plant will generate enough electricity to power more than 800,000 homes annually. At the time, Bobby Hollis, vice president of energy at Microsoft, said: “This agreement is a major milestone in Microsoft’s efforts to help decarbonize the grid in support of our commitment to become carbon negative.”[vii] The restart remains subject to approval by the Nuclear Regulatory Commission.
Not only do these changes highlight the soaring demand for energy but also raise the argument that the economics (and environmental debates) have shifted. Three Mile Island previously operated at both high efficiency and at low cost, but was effectively driven out of business by record low prices for natural gas and the introduction of relatively cheap, subsidised renewable energy to the grid[viii]. Now however, nuclear is being looked at again, where it is viewed as a “firm power source” delivering consistent levels of energy, compared with wind and solar which are intermittent.
The nuclear revival has led several countries to change their policies, including Japan, which said last month that it wanted the share of nuclear power in its mix to rise from 8.5% in 2023, to roughly 20% by 2040. During the CERAWeek conference Takehiko Matsuo, Japan’s vice-minister for international affairs at the economy, trade and industry ministry said: “We are not only regenerating existing plants, we are also building new generation”[ix]. he went on to explain that Japan’s decision to increase nuclear power was mainly driven by growing demand for electricity.
Similarly, the UK recently announced plans to ‘rip up rules to fire-up nuclear power’ by lifting planning restrictions relating to the construction of new nuclear power stations[x]. The UK government is making a particular drive for the deployment of Small Modular Reactors (SMRs) which can be used in locations unsuitable for large power plants. The proposals form a wider part of the UK’s push to decarbonise the power network, with the Government aiming for 95% of the UK’s electricity mix to come from renewables, nuclear, and gas with carbon capture by 2030. In their entirety, the reforms aim to boost energy security, create jobs and facilitate the transition to cleaner energy sources, as well as encourage investment in the nuclear sector and accelerate timelines for nuclear projects.
[i] CERAWeek by S&P Global | The World's Premier Energy Conference | CERAWeek
[ii] Major Global Companies Pledge Historic Support to Triple Nuclear Energy
[iv] ibid
[v] ibid
[vii] Ibid
[viii] Why Microsoft made a deal to help restart Three Mile Island | MIT Technology Review
[ix] Amazon, Google and Meta support tripling of nuclear capacity by 2050
Lauren has extensive experience as an analyst and market researcher in the digital technology and travel sectors. She has a background in researching and forecasting emerging technologies, with a particular passion for the Videogames and eSports industries. She joined the Critical Information Group as Head of Reports and Market Research at GRC World Forums, and leads the content and data research team at the Zero Carbon Academy. “What drew me to the academy is the opportunity to add content and commentary around sustainability across a wealth of industries and sectors.”
