Existing financing mechanisms for nuclear energy are tailor-made and not reliable enough to enable a global expansion of nuclear power capacities. In a relatively short period of time, massive amounts of capital will be required for the multiple hundreds of gigawatts of nuclear power capacity globally to meet the world’s ambitious net-zero and sustainability goals, according to a team of international experts calling for the creation of a new multilateral bank to support nuclear new-build.
A proposed International Bank for Nuclear Infrastructure (IBNI) would serve as a multilateral bank that would facilitate the mobilisation of the trillions of dollars of private and public capital into the nuclear sector over the next decades, providing financing, support and expertise to help scale up nuclear power at “a rapid and unprecedented pace”, said Daniel Dean, former investment banker and chairman of the advisory board preparing the project, based in Vienna.