By: Elle Caruso Fitzgerald
Global nuclear power generation reached 2,702 terawatt-hours (TWh) in 2025, setting a new annual record for the second consecutive year, according to the World Nuclear Association’s World Nuclear Outlook Report 2026.¹
Global Nuclear Generation Extends Historic Growth Momentum
The report identifies 423 gigawatts-electric (GWe) of gross nuclear capacity currently in operation worldwide. Global nuclear capacity could reach 1,457 GWe by 2050 if national targets and planned projects are delivered and existing reactors continue operating as assumed. That would exceed the global goal of tripling nuclear capacity from 2020 levels by more than 200 GWe.¹
Three reactors connected to electricity grids in 2025, while construction began on 11 reactors. The global fleet also recorded an average capacity factor of 83.7%, continuing its strong operational performance.¹
Capacity factor compares actual electricity generation with the maximum a plant could produce by operating continuously at full capacity. The global nuclear fleet’s 83.7% capacity factor means it generated approximately 84% of that theoretical maximum in 2025. For context, the U.S. Department of Energy reports that U.S. wind and solar capacity factors averaged 34.3% and 23.4%, respectively, in 2024.¹ ²
Positioning Portfolios Across the Nuclear Value Chain
This operational milestone may underscore a broader fundamental shift across the global energy landscape. Investors seeking targeted exposure to this multidecade nuclear buildout may consider looking beyond simple spot commodity or single-stock plays.
The Range Nuclear Renaissance Index ETF (NUKZ) seeks to deliver targeted access to the full nuclear value chain. Rather than focusing purely on raw material extraction, the fund aims to capture the broader ecosystem. It holds companies involved in reactor construction, maintenance, and nuclear facility management.
As governments and hyperscaler data centers demand continuous carbon-free power, diversified nuclear ETFs may be positioned to benefit from the growing industry.
This article was originally published at ETF Database.
Sources
World Nuclear Association. World Nuclear Outlook Report 2026. Accessed October 15, 2026.
Mueller, Mike. “What Is Generation Capacity?” U.S. Department of Energy, Office of Nuclear Energy. March 30, 2025.
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Investments in the energy industry are subject to significant volatility due to changes in commodity prices. Additional risks include changes in exchange rates, government regulation, world events, economic and political conditions in the countries where energy companies are located or do business, and risks for environmental damage claims.
The Fund is non-diversified. Its concentration in an industry or sector can increase the impact of, and potential losses associated with, the risks from investing in those industries/sectors.
Nuclear companies may be subject to substantial government regulation and contractual fixed pricing, which may increase the cost of doing business and limit the earnings of these companies. A significant portion of revenues of nuclear companies depends on a relatively small number of customers, including governmental entities and utilities. As a result, governmental budget constraints may have a material adverse effect on the stock prices of companies in this sub-industry.
International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume. Investments in smaller companies typically exhibit higher volatility.
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Diversification may not protect against market risk.
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