A significant milestone has been reached in the UK's nuclear power sector as Rolls-Royce SMR has been selected as the preferred bidder to build the country's first small modular reactors. This decision follows a rigorous two-year competition to determine the best nuclear technology for deployment in the UK, aiming to provide clean power through a publicly-owned company.
The project has the potential to create up to 3,000 jobs during peak construction and generate enough power to supply approximately 3 million homes, aligning with the government's Plan for Change to establish the UK as a clean energy superpower.
Rolls-Royce SMR has been chosen to collaborate with Great British Energy - Nuclear to develop small modular reactors, pending final government approvals and contract signing. This partnership signals a new era for nuclear power in the UK.
Key Points:
- The government is committing over £2.5 billion to the small modular reactor programme in the current Spending Review period.
- The project could support up to 3,000 new skilled jobs and power around 3 million homes with clean, secure energy.
- Great British Energy - Nuclear plans to sign contracts with Rolls-Royce SMR later this year and establish a development company.
Small modular reactors (SMRs) are more compact and quicker to construct compared to traditional nuclear plants, with the potential for reduced costs as more units are deployed. This decision marks the initial step towards cost reduction and attracting private investments, enabling the UK to achieve its goal of deploying one of Europe's first small modular reactor fleets.
The government's recent announcement to streamline planning regulations for nuclear projects, including small modular reactors, further supports this initiative.
Energy Secretary Ed Miliband expressed that the UK is entering a new era of nuclear power with the largest building programme in a generation. Chancellor of the Exchequer, Rachel Reeves, emphasized the importance of British leadership in cutting-edge technologies.
Great British Energy - Nuclear Chairman, Simon Bowen, highlighted the significance of this decision in shaping the UK's energy and industrial landscape, while CEO Gwen Parry-Jones underscored the national importance of accelerating nuclear deployment.
The global SMR market is projected to grow substantially in the coming years, with Britain poised to lead in nuclear technology development.
Rolls-Royce SMR Ltd is currently undergoing the final stages of assessment by the UK nuclear industry's independent regulators, with plans for a strategic technology partnership with Great British Energy - Nuclear.
This selection process has been transparent and thorough, spanning over two years and positioning the UK as a frontrunner in the global race to advance nuclear technology.
