The United Kingdom launches a competition for SMRs. The announcement, made by UK Finance Minister Jeremy Hunt, is intended to boost investment in the country’s nuclear energy. This measure is part of the policy to replace aging nuclear power plants, which will have to be closed by 2030.
The British government hopes that this new strategy will help attract investment in the nuclear energy sector. In particular, by focusing on smaller, less expensive reactors than large-scale projects.
United Kingdom launches competition for viable and sustainable SMRs
In 2015, the government had already announced the competition for RSMs. The latter had not been pursued beyond the first stage of information gathering. Today, Minister Hunt said the government will complete the competition by the end of this year and co-fund the technology if it is shown to be viable.
Minister Hunt also announced that he would consult on classifying nuclear power as “environmentally sustainable”, with the aim of encouraging more private investment in the sector.
Rolls-Royce’s SMRs on the front line to benefit from the competition’s investment
Rolls-Royce SMRs are in the front line to benefit from this investment. The government had already allocated £210 million to the company for its £500 million SMR program. This would allow the company to open plants to build the reactors in Britain. Rolls-Royce SMR CEO Tom Samson welcomed the announcement. He calls for rapid progress from the government.
This initiative aims to modernize the UK’s nuclear fleet while stimulating investment in the nuclear power sector. The hope is to produce more efficient and environmentally friendly energy.
