Two conflicts, one lesson. Tensions around the Strait of Hormuz, through which a considerable share of the world's oil flows, serve as a reminder that global energy routes are fragile, and that a single point of friction is enough to destabilize markets. The war in Ukraine has brutally exposed Europe's dependence on Russian fossil fuels. In a durably unstable geopolitical environment, controlling one's own energy production has become a strategic imperative. It is in this context that nuclear power, long pushed to the sidelines, is reasserting itself with renewed force: dispatchable, low-carbon, and independent of both climate variability and maritime routes, it addresses the sovereignty imperative better than any other decarbonized energy source.
To this geopolitical logic is added rapidly accelerating electricity demand, driven by the rise of artificial intelligence and the proliferation of data centers. Nuclear power's return to favor is part of a converging global political momentum:
- In the United States, the Inflation Reduction Act has paved the way for massive support for the sector.
- In Europe, the green taxonomy has recognized nuclear as a transition energy source.
- At COP28, for the first time, more than twenty states committed to tripling their nuclear capacities by 2050.
At the same time, technological innovation is opening new horizons with SMRs, small modular reactors that promise shorter deployment timelines, more predictable costs, and greater flexibility of installation.
It is against this backdrop that, in partnership with Kepler Cheuvreux Solutions, Renalco has chosen to integrate targeted exposure to the nuclear revival theme within its new investment strategy. Kepler Cheuvreux's research teams have identified the best-positioned players across the entire value chain to ride this long-term trajectory.
For more information on this opportunity, please contact Renalco SA directly (info@renalco.ch).
