Decommissioning

IAEA / New Industry Emerging ‘Worth Several Hundred Billion Dollars’

By David Dalton
26 July 2023

Agency calls for urgency on development of skilled workforce

New Industry Emerging ‘Worth Several Hundred Billion Dollars’
The IAEA predicts that ‘several hundred billion dollars’ will be spent on decommissioning in the next 25 years.

A new industry worth several hundred billion dollars is emerging as many nuclear power plants around the world near the end of their life cycle, the International Atomic Energy Agency said.

But the agency warned that the development of a skilled workforce with competencies specifically aligned with the unique requirements of nuclear decommissioning is a prerequisite for growth of the industry.

The Vienna-based UN body predicts that “several hundred billion dollars” will be spent on decommissioning in the next 25 years.

About half of the world’s 420 active nuclear power reactors will reach the of their planned productive cycles and be scheduled for decommissioning by 2050.

The IAEA said the decommissioning of nuclear facilities is expected to attract significant investment due to the lengthy and complex process of shutting down a nuclear plant, which can take more than 20 years.

It said the long-term viability of firms that specialise in decommissioning is improved because dozens of new reactors are in various stages of development at any given time.

The IAEA helps countries in the planning and implementation of decommissioning by providing safety, legal and technical advice, and through training courses and workshops.

The agency’s international decommissioning network serves as a platform for the exchange of experiences and good practices.

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