Starting this year, record generation from renewables and nuclear will cover rising power demand from growth in emerging markets, AI and data centres, the agency says
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Global demand for electricity is set to grow at a faster rate over the next three years, but with record power generation from renewables and nuclear expected to cover the surge, emissions will likely go into structural decline, according to the International Energy Agency.
Electricity demand is on track to rise by an average of 3.4% a year through 2026, driven by robust growth in emerging economies, AI, cryptocurrencies and data centres, according to the Paris-based organization’s latest report. However, global carbon-dioxide emissions from power generation are expected to fall, as low-emission energy sources—wind, solar, hydro and nuclear, among others—are likely to account for almost half of the world’s electricity generation by 2026, up from just under 40% last year.
“It’s encouraging that the rapid growth of renewables and a steady expansion of nuclear power are together on course to match all the increase in global electricity demand over the next three years,” IEA’s executive director Fatih Birol said on Wednesday.
“This is largely thanks to the huge momentum behind renewables, with ever cheaper solar leading the way, and support from the important comeback of nuclear power, whose generation is set to reach a historic high by 2025.”
In 2023, global CO emissions from electricity generation increased by 1%, but the IEA predicts a fall of more than 2% this year and smaller decreases in the next two years. Generation from cleaner energy sources is expected to rise at twice the annual growth rate seen between 2018 and 2023, while coal-fired generation is forecast to fall by an average of 1.7% annually through 2026, the IEA said.
Rapid growth of renewables will be supported by nuclear power. According to the report, nuclear generation is set to rise by roughly 3% a year on average to the end of 2026, despite a number of countries phasing out nuclear power or closing plants early.
France and Japan will restart several plants while new reactors begin operating in Europe, China, India and Korea. Asia will likely remain the main driver of growth, reaching a 30% share of global nuclear generation in 2026, the IEA said.
For years, nuclear power has been at the centre of the clean-energy debate. Proponents including France argue that it is a reliable, low-carbon alternative to fossil fuels, while opponents such as Germany say costs and risks from reactor accidents and waste are too high.
At the United Nations’ COP28 climate summit last year, the U.S. and 21 other nations pledged to triple nuclear power capacity by the middle of the century.
Most of the increase in electricity demand forecast by the IEA is set to come from emerging markets. China is expected to be the largest contributor to growth—with consumption boosted by the production of solar PV modules, electric vehicles and the processing of raw materials—while India is forecast to grow the fastest among major economies.
Rapid expansion of artificial intelligence, data centres and cryptocurrencies will also be a driver of growth, according to the agency, which predicts their power demand could double to roughly the equivalent of electricity consumption in Japan.
Last year, electricity demand growth slowed to 2.2% from 2.4% in 2022, as advanced economies suffered the impact of high inflation and lower industrial output, the IEA said.
Demand in the U.S. decreased by 1.6% after rising 2.6% in 2022, mainly because milder weather reduced the use of heaters and coolers, but demand is expected to recover this year to 2026. European Union power demand declined for the second consecutive year in 2023—despite a fall in energy prices—and isn’t expected to return to high levels until 2026 at the earliest, the IEA said.
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A&K Sanctuary’s newest Nile vessel, Nile Seray, will launch in October 2026 as Egypt enters a new era of global tourism
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A new luxury riverboat set to sail the Nile from late 2026 has opened for bookings, as Egypt experiences its biggest surge in international tourism in more than a decade following the opening of the Grand Egyptian Museum.
Nile Seray, the latest vessel from A&K Sanctuary, will launch in October and operate four-night voyages between Aswan and Luxor.
The boat will accommodate just 64 guests across 32 suites, placing it firmly at the premium end of the fast-expanding Nile cruising market.
The launch coincides with the opening of the Grand Egyptian Museum in November 2025, a project more than 20 years in the making.
Located near the Giza pyramids, the museum spans more than 480,000 square metres and is now the largest archaeological museum in the world.
It houses more than 100,000 artefacts, including, for the first time ever, the complete collection of King Tutankhamun’s treasures displayed together in one place.
The museum’s opening has been widely credited with transforming global interest in Egypt, driving record visitor numbers and sparking a wave of new hotel openings, aviation capacity and high-end travel investment across the country.
Interior renderings released this week show Nile Seray adopting a contemporary design approach that blends modern lines with heritage references.
The 32 suites feature floor-to-ceiling windows overlooking the Nile, with natural materials and colour palettes drawing from Egypt’s desert landscape.
Two onboard restaurants open onto deck spaces, while the top deck includes a swimming pool and shaded daybeds designed for daytime cruising and sunset views.
Each voyage will include guided access to key archaeological sites on the West Bank, including the tombs of Seti I and Ramses VI, along with private openings of the tombs of King Tutankhamun and Amenhotep III. Excursions are led by specialist Egyptologists, with daily touring built into the itinerary.
With only 64 guests onboard, the vessel is aimed at travellers seeking a more intimate alternative to the larger Nile cruise ships that dominate the route during peak season.
Luxury hotel availability across Egypt remains tight during busy periods, particularly following the museum’s opening.
Nile Seray becomes the fifth vessel in A&K Sanctuary’s Nile fleet, joining the Nile Adventurer, Sun Boat III, Sun Boat IV and Zein Nile Chateau. A sister ship is also scheduled for launch in 2028.
Voyages include visits to the temples of Luxor, Karnak and Aswan, felucca sailing around Elephantine Island, Egyptian cooking demonstrations and traditional entertainment. All meals, excursions and onboard activities are included.
Each sailing will also contribute to A&K Philanthropy programs in Egypt, including long-running partnerships in Luxor and Aswan focused on youth education and cardiac care.
