NRI Annual Review 2026 - Flipbook - Page 11
Flexible nuclear power for a changing energy system
SUPPORTING A CLEAN
AND RELIABLE GRID
POWERING INDUSTRY AND
SUPPORTING COMMUNITIES
Providing dispatchable
power when wind and
solar outputs dip
Manufacturing
Low-carbon heat and
power for production
Ideal for regions where
grid infrastructure or
local demand doesn’t
justify a full GW reactor
Data Centres
24/7 Clean power for
the digital future
SMRs and AMRs
Flexible and Scalable
Accelerates
net-zero
transition
Supports local
economies and
communities
For the NRI, supporting the development
of SMRs and AMRs already forms part of
our work across construction, operation
underwriting and engineering risk
assessment.
Globally, the market is beginning to shift
from development into construction.
China already has AMRs in operation,
while projects are progressing across
North America and Europe. Through the
international pool system, the NRI has
already been contributing to the assessment
and coverage of advanced reactors and is
supporting major projects now entering
construction, including Ontario Power
Generation’s Darlington SMR project in
Canada and a TerraPower’s Natrium Reactor
project, which recently broke ground in
Wisconsin, USA.
Advanced nuclear use cases
The growing commercial momentum
has been reflected in policy and funding
statements from governments across our
Unlocks growth
in hard-to-abate
sectors
Enhances energy
security and
resilience
core markets. Alongside decarbonisation
targets, energy security has become a
central driver of investment in nuclear power.
Governments are very focussed on
ensuring their energy systems are stable
and sufficient to meet future demand,
something nuclear energy is well positioned
to do, particularly in energy systems with
heavy reliance on fossil fuels to provide
baseload security. The NRI expects SMRs
and AMRs to develop alongside the growth
of GW reactors as part of a broader energy
mix – with the scale of large nuclear being a
particular draw for energy security.
Where the appeal of SMRs and AMRs truly
lies is in their flexibility. Smaller reactors,
some with co-located energy storage
systems can support grids with growing
levels of renewable generation, providing
dispatchable power when wind and solar
outputs dip. There is also great appeal for
SMRs and AMRs to be located in regions
where grid infrastructure or local demand
does not justify a full GW reactor.
11
